AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week 2017 (Hd)
233,600 336,400 287,700
Compared to Oct. 5: Steers and heifers sold 1.00 to 5.00 lower, except for the North Central area sold weak to 2.00 higher. Demand was reported as mostly moderate to good nationwide this week as buyers were willing to take on inventory.
Consignment sheets were curtailed this week as moisture fell nationwide with some areas of Missouri receiving 8-10 inches of rain. Poor travel conditions in Nebraska and South Dakota after rain and snow in some areas left back country roads impassable.
Significant flooding has occurred in the Midwest and the swollen Mississippi River north of St Louis are making grain shipments difficult as well.
Limited receipts from the Carolinas and Florida this week due to Hurricane Michael’s path from the Gulf to the Northeast.
Health concerns are the biggest factor with the big temperature swings this time of year. Last week, temperatures were in the 80s, while lows in the 30s and 40s followed just a few days later. These big fall temperature swings coupled with wet weather and mud can create health issues in a hurry for new owners of feeders.
Extensive preweaning and vaccination programs enacted by producers are sought after by buyers.
A special yearling sale on Monday in Valentine, Neb., saw almost 5K head on hand to sell. A load of 901 lb steers sold at 164.85 or $1,485.00 per head without any trucking on them to the feedyard.
Also, a short load of 900 lb heifers sold at 152.50 on the same day. Their calf special at that location on Thursday sold two loads of steers averaging 575 lbs at 200.50.
The CME Cattle complex struggled this week to move the market higher and the Live Cattle contracts were 1.48 to 2.12 lower on the week.
Weakness in the Feeder Cattle futures realm was pronounced on Friday as the daily trend was 1.57 to 2.12 lower. For the week, the front 5 months of Feeder Cattle futures were 3.07 to 4.62 lower.
Compared to last week, live sales in the Southern Plains sold steady again at 111.00. Dressed sales in Nebraska sold at mostly 174.00, 1.00 lower than last week. This is the fifth consecutive week that live sales in the Southern Plains sold at mostly 111.00.
Feedyard managers were anticipating an early fall bounce they typically experience; they are just waiting on when.
Fed Cattle prices normally have upside potential this time of year, however muddy pen conditions in all major feeding regions have left many fed cattle owners willing sellers at steady money recently.
Dressed steer weights hit the 900 lb mark for week ending Sept. 29; four weeks sooner than last year and three weeks later than 2016. Actual cattle slaughter the first three full weeks after Labor Day averaged almost 647K; over 7 percent more than the previous 3-year average.
For the week, Choice cutout closed 0.54 lower at 202.71, while Select was 0.54 higher at 192.28. Auction volume this week included 38 percent weighing over 600 lbs and 41 percent heifers.
Slaughter cattle trade mostly steady for live trades and 1.00 lower dressed from last week’s limited early test.
Boxed Beef prices as of Friday afternoon averaged 197.50 unchanged from last Friday. The Choice/Select spread is 10.43. Slaughter cattle on a national basis for negotiated cash trades through Friday afternoon totaled 97,979. Last week’s total head count was 129,613.
Midwest Direct Markets:
Live Basis: Steers and Heifers: 111.00.
Dressed Basis: Steers and Heifers: 174.00.
South Plains Direct Markets:
Live Basis: Steers and Heifers: 111.00.
Slaughter Cows and Bulls (Average Yielding Prices):
Slaughter cows and bulls traded mostly steady to 2.00 lower. Packer Demand moderate. Cutter Cow Carcass Cut-out Value on Friday was 155.99 down 0.44 from last Friday.
Direct Feeder Cattle
This week Last week 2017(Hd)
245 1,708 352
Compared to Oct. 5: Feeder cattle and calves not well tested this week. Cattle futures traded mostly to the lower side and many feedyards in the middle of the country not interested in receiving cattle as mud has become a major problem following heavy rains. Demand light to moderate.
Supply included 100 percent over 600 lbs and 86 percent heifers. Unless otherwise stated prices are FOB weighting points with 2-3 percent shrink or equivalent and a 5-10 cent slide on calves and a 4-12 cent slide on yearlings from base weights. Current sales are up to 14 days delivery.
Feeder Steers Medium and Large 1
35 Head: Avg Wt 670 lbs; Avg Price 160.00; Current Del Split Loads
Feeder Heifers Medium and Large 1
30 Head: Avg Wt 630 lbs; Avg Price 153.00; Current Del Split Loads
180 Head: Avg Wt 825 lbs; Avg Price 142.00; Nov Del