National slaughter, feeder and stocker report

There was significant volatility throughout the two-week stint with many yearling specials posting new lofty all-time record highs but sharply lower CME futures pressuring the cash market late this last week.

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

July 10

Compared to July 3: Direct live cattle trade in the South Plains $2-3 lower. Nebraska dressed sales $1-4 lower. Boxed beef prices Friday morning averaged $247.98 that is $3.36 higher than July 3. The Choice/Select spread is $6.63. Slaughter cattle on a national basis for negotiated cash trades through July 10 totaled about 44,600 head. The previous week’s total head count was 113,391 head.

Midwest Direct Markets: Live Basis: Steers and Heifers 35-80 Percent Choice, 1200-1400 lbs. $155-156; Dressed Basis: Steers and Heifers $246-249.

South Plains Direct Markets: Live Basis: Steers and Heifers 35-65 percent Choice, 1100-1400 lbs. $155-156.

Slaughter Cows and Bulls (Average Yielding Prices): Due to summer scheduling the western market will temporarily be Wyoming. Slaughter cows and bulls $6-8 lower in the West; $7-9 higher in Oklahoma and steady to firm in the East. Packer demand remains good. USDA’s Cutter cow carcass cut-out value Friday morning was $228.61 up $11.22 from July 3.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

July 10This week Last week Last year

325,800 280,300 499,900

Compared to June 27: Feeder and stocker cattle prices ended the holiday interrupted trading session from steady to $5 higher, mostly $8-10 higher on those 800-900 lbs. However, there was significant volatility throughout the two week stint with many yearling specials posting new lofty all-time record highs but sharply lower CME futures pressuring the cash market late this last week. August contracts have lost over $7 since the 4th of July with the only bright spot being the fact that Friday’s session rebounded to near unchanged after trading near limit losses for most of the day.

There’s no doubt that recent pressure on the Board is more than just minor profit taking and many analysts are blaming the drop on technical negativity.

Somebody must have forgotten to tell the charts just how short cattle numbers are or that we are facing one of the best corn crops in recent memory and the largest in history.

Spot corn price from the CBOT is now below $4/bu. and the cash corn price in Omaha is $3.65/bu. Cash feeder markets remain very strong (especially on heavy yearlings) with renewed interest from farmer-feeders who travel Corn Belt blacktops that seem more like trails through the Redwood Forest. Many of these independent feeders hope to reach profit through the added value of all-natural beef products with Bassett, Neb., selling two loads of 800 lb. drug free yearling steers at $240.

Superior Video’s Week in the Rockies featured 260 head of all-natural Buffalo, S.D., steers to weigh 1050 lb. in October at $205.50. The key to the all-natural premium on feeders is for the heavier yearlings, as drug free calves are no big deal and rarely yield an advantage despite the extra paperwork. Making it through the weaning period without the help of antibiotics is the hard part and most producers don’t segregate treated calves from the rest of the herd. Lightweight calves received top billing in the Southern Plains with light 3-weight steer calves at the Winter Livestock Auction in Dodge City, Kan., averaging 323 lbs. at $357.40. Many of us suspected that we were nearing the top of this feeder cattle market, but it’s still unclear whether this was a peak or a plateau that we’ve been climbing. Fed cattle drifted lower this past week, after setting a new record prior to the holiday, just short of $160. Fats sold $2-3 lower on a live basis from $155-156 and $1-4 lower in the beef from $246-249. The week’s reported auction volume included 50 percent over 600 lbs. and 40 percent heifers.

AUCTIONS

This week Last week Last year

190,700 151,000 164,700

WASHINGTON 3,000. 61 pct over 600 lbs. 58 pct heifers. Medium and Large 1-2 pkg 430 lbs. $298.75; pkg 540 lbs. $255; 750-800 lbs. $192.12; 900-950 lbs. $191.23. Heifers: Medium and Large 1-2 half load 500 lbs. $247.50; 750-800 lbs. $185.10; 800-850 lbs. $185.26.

DIRECT

This week Last week Last year

86,200 52,900 152,000

SOUTHWEST (Arizona-California-Nevada) 15,000. No cattle over 600 lbs. No heifers. Holsteins: Large 3 November 275 lbs. $296 Del; October-February 300 lbs. $280 Del; December 300 lbs. $277 Del; September 325 lbs. $261 Del; October 325 lbs. $266 Del; November 325 lbs. $276-267; December 325 lbs. $277 Del. Week ending July 4:. Holsteins: Large 3 Current 450 lbs. $226.40 Del; September 325 lbs. $258.10 Del; October 325 lbs. $270 Del; November 325 lbs. $266-270 Del; November/December 300 lbs. $263 Del.

NORTHWEST (Washington-Oregon-Idaho) 11,300. 89 pct over 600 lbs. 24 pct heifers. Steers: Medium and large 1-2: Current Delivery FOB Price: 800 lbs. $210 Washington; 800-850 lbs. $182.73 fleshy Washington. Current Delivery Delivered Price: 900 lbs. $206 Idaho. Future Delivery FOB Price: 600-700 lbs. $225-235.50 calves for November Idaho; 850-900 lbs. $203.95-208.50 for August-October Idaho. Medium and Large 1: Future delivery FOB price: 850 lbs. $220 value added for September Washington. Future Delivery Delivered Price: 850-900 lbs. $216.10 for September-October Idaho; 900-1000 lbs. $213-216 for August-October Idaho. Holstein Steers: Large 2-3: Future Delivery FOB Price: 650 lbs. $185 for July-August. Heifers: Medium and Large 1-2: Current Delivery FOB Price: 850 lbs. $189.78 Idaho. Medium and Large 1: Future Delivery FOB Price: 700-750 lbs. $215 value added for September Washington. Future Delivery Delivered Price: 900 lbs. $211.10 for September-October Idaho. Medium and Large 1-2: Future Delivery FOB Price: 650 lbs. $215-225.31 calves for October-November Idaho; 800-850 lbs. $203-203.50 for September-November Idaho.600 lbs. $215 calves for November Idaho. Replacement Heifers: Medium and Large 1-2: Future Delivery FOB Price: 550-600 lbs. $215-225, few 235 for November Idaho. Week ending July 4: Steers: Medium and Large 1 Current Delivery FOB Price 850-900 lbs. $205-206 Washington. Medium and large 1-2 Current Delivery FOB Price 700-750 lbs. $207.04 Idaho; 850-900 lbs. $184-186.24 fleshy Idaho. Future Delivery FOB Price 500-550 lbs. $240 for October-November Idaho; 650 lbs. $228.02 calves for October-November Idaho; 750-800 lbs. $210 for Jan Washington; 800-900 lbs. $206.44-207.73 Idaho. Medium and Large 1 Future delivery delivered price 950 lbs. $192 for September-October Idaho. Heifers: Medium and Large 1-2 Current Delivery FOB Price 850 lbs. $185 Idaho. Medium and Large 1 Medium and Large 1-2 Future Delivery FOB Price 500-550 lbs. $220-232 for October-November Idaho-Oregon; 750-800 lbs. $199.21 for September-October Idaho; 800 lbs. $196.73 for October-November 196.73 Idaho. Medium and Large 1 Current Delivery Delivered Price 850 lbs. $187 fleshy Idaho.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

July 10

This week Last week Last year

7,950 3,250 8,450

Compared to July 3: Feeder cattle $5-10 higher, due in part to lower corn prices. Trade moderate to active. Demand remains very good. The supply included 76 percent steers and 24 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. Delivered prices include freight, commissions and other expenses.

Steers: Medium and large 1-2: Current Delivery FOB Price: 800 lbs. $210 Washington; 800-850 lbs. $182.73 fleshy Washington. Current Delivery Delivered Price: 900 lbs. $206 Idaho. Future Delivery FOB Price: 600-700 lbs. $225-235.50 calves for November Idaho; 850-900 lbs. $203.95-208.50 for August-October Idaho. Medium and Large 1: Future delivery FOB price: 850 lbs. $220 value added for September Washington. Future Delivery Delivered Price: 850-900 lbs. $216.10 for September-October Idaho; 900-1000 lbs. $213-216 for August-October Idaho.

Holstein Steers: Large 2-3: Future FOB Price: 650 lbs. $185 for July-August.

Heifers: Medium and Large 1-2: Current Delivery FOB Price: 850 lbs. $189.78 Idaho. Medium and Large 1: Future Delivery FOB Price: 700-750 lbs. $215 value added for September Washington. Future Delivery Delivered Price: 900 lbs. $211.10 for September-October Idaho. Medium and Large 1-2: Future Delivery FOB Price: 650 lbs. $215-225.31 calves for October-November Idaho; 800-850 lbs. $203-203.50 for September-November Idaho.600 lbs. $215 calves for November Idaho.

Replacement Heifers: Medium and Large 1-2: Future Delivery FOB Price: 550-600 lbs. $215-225, few $235 for November Idaho.



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