National slaughter, feeder and stocker cattle report

Feeder and stocker cattle sold $1-6 higher — mostly $3-5 higher — with many auction markets that were closed during Memorial Day quoted a full $10 higher than two weeks ago.

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

June 6

Compared to May 30: Direct live cattle trade in the South Plains $2 higher. Nebraska dressed sales $1-2 higher.

Boxed beef prices Friday morning averaged $225.55 down $1.73 from May 30. The Choice/Select spread is $8.78. Slaughter cattle on a national basis for negotiated cash trades through June 6 totaled about 17,500. The previous week’s total head count was 128,290 head.

Midwest Direct Markets: Live Basis: Steers and Heifers 35-80 Percent Choice, 1200-1400 lbs. $146. Dressed Basis: Steers and Heifers: $232-233.

South Plains Direct Markets: Live Basis: Steers and Heifers 35-65 percent Choice, 1100-1400 lbs. $145.

Slaughter Cows and Bulls (Average Yielding Prices): Due to summer scheduling the western market will temporarily be Utah.

Slaughter cows and bulls mostly $1-2 higher. Packer demand remains good.

USDA’s Cutter cow carcass cut-out value June 6 was $195.88 down $.02 from May 30.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

June 6

This week Last week Last year

246,300 145,500 258,500

Compared to May 30: Feeder and stocker cattle sold $1-6 higher (mostly $3-5 higher) with many auction markets that were closed during Memorial Day quoted a full $10 higher than two weeks ago. The best demand varied as to where the sales occurred with the full advance of the market noted on lightweight calves in the southern regions and on yearling feeders in the Northern Plains.

Outdoor warning sirens were heard whaling across Nebraska this week to signify severe weather, like the storms that hit the Omaha area with baseball-sized hail. But cornhusker cattlemen farther west assumed the horns were blowing to alert rural producers that 800 lb. steers broke the $200 mark at the local salebarn. At the Ogallala, Neb., Livestock Market June 5, over 350 head of top quality steers quoted in the 800-850 lb. group averaged 811 lbs. at $208.14.

Top billing went to a load of one-iron home-raised black yearling steers off short grass weighing 803 lbs. at $211.50, but it’s perhaps more surprising that they sold to a corporate feeder. It hasn’t been too long ago that $2/lb. sounded strange on pee-wee steers and bulls weighing under 400 lbs.

In late January, we saw top sales of 6 weight steers break two bucks and then in early April we saw the dollar doubled-up on extreme sales of 700 lb. steers. Now, $2 has been broken for 800 lb. steers and will likely become the benchmark asking price for grass yearlings coming off summer and fall pastures throughout the country.

CME Feeder Cattle futures continue to ride drag on the cash market, but are closing in with all summer and fall contracts ending the week north of $200 (based on a 750 lb. steer).

Heavy rains fell across the Midwest this past week and, although some flooding was reported, the rain was much-needed and sent CBOT corn futures to briefly dip below $4.50/bu. The stars continue to line-up for a lasting record-high feeder cattle market with sound fundamental supply and demand data supporting the surge.

Farther down the line, strong Asian beef demand is helping support the price of dressed product and fed cattle. This past week, finished steers and heifers sold $1-2 higher from $145-146 live and $232-233 in the beef. The week’s reported auction volume included 46 percent over 600 lbs. and 40 percent heifers.

AUCTIONS

This week Last week Last year

170,700 111,800 148,900

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

42,500 24,500 74,700

SOUTHWEST (Arizona-California-Nevada) 6,900. No cattle over 600 lbs. No heifers. Holsteins: Large 3 October 275 lbs. $260 Del; 300 lbs. $242-250 Del; 325 lbs. $239-244 Del.

NORTHWEST (Washington-Oregon-Idaho) 5600. 93 pct over 600 lbs. 35 pct heifers. Steers: Medium and Large 1-2 Future FOB Price 800-850 lbs. $186; 550-600 lbs. $201; 550-600 lbs. $200, Calves; 650-700 lbs. $201-203, Calves. Current Delivered Price 800-850 lbs. $183.75; 850-900 lbs. $172.50-183.50. Future Delivered Price 850-900 lbs. $184; 850-900 lbs. $184; 750-800 lbs. $193.25; 650-700 lbs. $211.85; 850-900 lbs. $184; 900-950 lbs. $182. Heifers: Medium and Large 1-2 Future FOB Price 750-800 lbs. $186; 550-600 lbs. $194; 550-600 lbs. $190, Calves; 600-650 lbs. $193, Calves; 650-700 lbs. $194, Calves. Current Delivered Price 800-850 lbs. $163.96-183.50. Future Delivered Price 800-850 lbs. $178; 650-700 lbs. $185.25; 750-800 lbs. $188; 600-650 lbs. $204.85; 850-900 lbs. $177-178; 900-950 lbs. $173.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

June 6

This week Last week Last year

5,612 3,550 1,105

Compared to May 30: Feeder cattle generally steady to lower. Trade slow to moderate with light demand. Producers remain bullish for fall contracting of calves and yearlings. The feeder supply included 65 percent steers and 35 percent heifers. Near 93 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.

Feeder Steers: Medium and Large 1-2: Future FOB Price: 800-850 lbs. $186 for September, Idaho; 550-600 lbs. $201 for October, Washington; 550-600 lbs. $200 for October, Calves, Idaho; 650-700 lbs. $201-203 for November, Calves, Idaho. Current Delivered Price: 800-850 lbs. $183.75, Idaho; 850-900 lbs. $172.50-183.50 Idaho. Future Delivered Price: 850-900 lbs. $184 for Jul-August, Idaho; 850-900 lbs. $184 for August-September, Idaho; 750-800 lbs. $193.25 for September, Idaho; 650-700 lbs. $211.85 for October, Idaho; 850-900 lbs. $184 for October, Idaho; 900-950 lbs. $182 for October, Idaho.

Feeder Heifers: Medium and Large 1-2: Future FOB Price: 750-800 lbs. $186 for September, Idaho; 550-600 lbs. $194 for October, Washington; 550-600 lbs. $190 for October, Calves, Idaho; 600-650 lbs. $193 for November, Calves, Washington; 650-700 lbs. $194 for November, Calves, Washington. Current Delivered Price: 800-850 lbs. $163.96-183.50 Idaho. Future Delivered Price: 800-850 lbs. $178 for August-September, Idaho; 650-700 lbs. $185.25 for September, Idaho; 750-800 lbs. $188 for September, Idaho; 600-650 lbs. $204.85 for October, Idaho; 850-900 lbs. $177-178 for October, Idaho; 900-950 lbs. $173 for October, Idaho.



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