National slaughter, feeder and stocker cattle report

The unofficial start to the summer grilling season was followed by continued good demand for all classes and still no signs of top-side pressure.

Cattle prices in dollars per hundredweight (cwt.) except some replacement animals per pair or head as indicated.

NATIONAL SLAUGHTER CATTLE

(Federal-State Market News)

Oklahoma City-Des Moines

May 30

Compared to May 23: Nebraska dressed sales $2 lower. Boxed beef prices May 30 averaged $228.03 up $1.76 from May 23. The Choice/Select spread is $10.58. Slaughter cattle on a national basis for negotiated cash trades through May 30 totaled about 112,990. The previous week’s total head count was 104,389 head.

Midwest Direct Markets: Live Basis: Steers and Heifers 35-80 Percent Choice, 1200-1400 lbs. $143; Dressed Basis: Steers and Heifers: $230-232.

Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls mostly steady to weak. Packer demand remains good.

USDA’s Cutter cow carcass cut-out value Friday morning was $196.42 up $1.05 from May 23.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

May 30

This week Last week Last year

135,500 250,100 153,700

Compared to May 23: A light holiday test of feeder cattle and calves sold $2-5 higher. The unofficial start to the summer grilling season was followed by continued good demand for all classes and still no signs of top-side pressure.

Many major early-week auctions were idle this week, including the Oklahoma National Stockyards and the Joplin Regional Stockyards, but buyers picked up where they left off at mid-week sales, showing little regard for quality or even shoring-up their loads.

Direct trading was slow during the holiday week with bids and asking prices far apart in most cases. However, negotiating on summer and fall delivery yearlings should come together soon as trading is currently in limbo between the sellers that contract early and the prices obtained on the first summer video auctions.

Northern buyers continue to drive the market and tip their hand as to how far they will go when local cattle come up for sale. At the Hub City Livestock Auction in Aberdeen, S.D., on May 28 with nearly 4,200 head on offer, a fancy load of 794 lb. steers brought $204.50 and another weighing 867 lbs sold for $191.75. If weight and price are extrapolated, there are several 800 lb. $200 steers included in these cattle and this is the point at which even the guys that are hardest to trade with would call the trucks and open the gates.

Both Live and Feeder CME cattle contracts posted sizable gains for the short holiday week while the corn market fell 20 cents per bushel.

As of Memorial Day, 88 percent of the crop had been planted and 60 percent of that had emerged. This start is right on par with five-year averages and much better than many feared early-on during the cool spring. Moisture levels have been adequate but not ample in most major production areas. Ample rain fell over the weekend in some of the driest places in the Southern Plains. West Texas and eastern New Mexico, both of which were mostly sitting on only traces so far for the year, saw 4-5 inches of widespread rain with some areas receiving much more. San Angelo recorded nearly 8 inches.

This was a ranch-saving rain for many across this dry country, for others their pastures have not sustained grazing for years and could result for even more demand for stockers and replacement females. Fed cattle prices fell another 1 this past week with live sales at 143 in Southern yards and $230-232 dressed in Northern lots.

This week’s reported auction volume included 49 percent over 600 lbs. and 41 percent heifers.

AUCTIONS

This week Last week Last year

101,800 172,200 114,900

WASHINGTON 1,400. 79 pct over 600 lbs. 53 pct heifers. There were not enough feeder cattle sales to report.

DIRECT

This week Last week Last year

24,500 39,900 36,600

SOUTHWEST (Arizona-California-Nevada) 1,600. No cattle over 600 lbs. No heifers. Holsteins: Large 3 October 275 lbs. $240-260 Del; Current 375 lbs. $203 FOB.

NORTHWEST (Washington-Oregon-Idaho) 3,600. 79 pct over 600 lbs. 26 pct heifers. Steers: Medium and Large 1-2 Current Delivery FOB Price 700-750 lbs. $188 Washington. Future Delivery FOB Price 600-700 lbs. $195-208 calves for October-December Oregon-Washington-Idaho; 650- 700 lbs. $188-191 fleshy calves for October Idaho-Washington. Holsteins: Large 2-3 Current Delivery FOB Price 350 lbs. $165 Washington. Heifers: Medium and Large 1-2 Current Delivery FOB Price 600 lbs. $190.50 Washington. Future Delivery FOB Price 550 lbs. $201 for November Washington; 600-650 lbs. $194 calves for October Oregon; 600-650 lbs. $177- 184 fleshy calves for October Idaho-Washington.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

May 30

This week Last week Last year

3,550 2,600 1,100

Compared to May 16: feeder cattle $5-6 higher. Trade slow to moderate with good demand. Producers remain bullish for fall contracting of calves and yearlings. The feeder supply included 74 percent steers and 26 percent heifers. Near 79 percent of the supply weighed over 600 lbs. Prices are FOB weighing point with a 1-4 percent shrink or equivalent and with a 5-10 cent slide on calves and a 3-7 cent slide on yearlings.

Steers: Medium and Large 1-2: Current Delivery FOB Price: 700-750 lbs. $188 Washington. Future Delivery FOB Price: 600-700 lbs. $195-208 calves for October-December Oregon-Washington-Idaho; 650-700 lbs. $188-191 fleshy calves for October Idaho-Washington.

Feeder Holstein Steers: Large 2-3: Current Delivery FOB Price: 350 lbs. $165 Washington.

Heifers: Medium and Large 1-2: Current Delivery FOB Price: 600 lbs. $190.50 Washington. Future Delivery FOB Price: 550 lbs. $201 for November Washington; 600-650 lbs. $194 calves for October Oregon; 600-650 lbs. $177-184 fleshy calves for October Idaho-Washington.



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