NATIONAL FEEDER AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week Last year
178,300 351,300 156,600 Compared to Sept. 1: Feeder steers and heifers were mostly steady to 5.00 higher, with instances 6.00 to 8.00 higher. The full incline was observed mid-week as futures provided support to auction sales. Demand was moderate to very good, with moderate to active trade. Early-week auctions were sparse this week, as many auction barns were closed in observance of Labor Day.
On Monday, Russell Livestock Market in Russell, Iowa, held their 10th Anniversary Labor Day Auction. There were 6,052 head on offer, with nearly 1,800 head of steers over 800 pounds.
Hub City Livestock in Aberdeen, South Dakota, had some notable sales on Wednesday, with nearly two loads of thin fleshed steers coming off grass averaging 910 pounds sold at 156.25.
A load of their bigger brothers weighing 1,001 pounds sold at 148.20.
CME live and feeder cattle futures started the week lower; however, this was followed by closes in positive territory Wednesday through Friday. Compared to last Friday, October live cattle futures closed 2.18 higher at 107.33 and December was 3.38 higher at 112.85.
Feeder cattle futures for September closed at 147.88, up 5.16 for the week and October was 4.88 higher at 148.43. As of this writing, there has been some trade in Nebraska, with live sales at 105.00 and early dressed sales at 166.00. Last week, live trades were mostly at 105.00 in Kansas and Nebraska and from 104.00-105.00 in the Texas Panhandle.
Adverse weather and conditions are affecting many throughout the U.S. Texas and Louisiana are dealing with the ramifications of Hurricane Harvey, while those in Florida and the surrounding states are preparing for Hurricane Irma, with Jose on its heels.
Florida holds more than 1.6 million cattle and calves and is 17th nationally for cattle production. Although less flooding is expected in Florida, ranchers are preparing fencing supplies to open fences in order to allow livestock access to higher ground.
In the West, nine states are facing wildfires. As of Aug. 28, nearly 1.5 million acres were actively burned or are burning, with Montana holding almost 545,000 of those acres.
Drought has played a major factor in many of the fires, with 25 percent of Montana experiencing exceptional drought.
On a positive note, the Midwest and Southern Plains are experiencing cooler weather and/or plenty of moisture for this time of year.
This has allowed farmers in the Southern Plains to begin working ground and planting wheat, which is 1 to 2 weeks earlier than previous years. A milestone was met on Sept. 1, with the first shipment of U.S. beef entering China by sea. This may signify a new chapter for bilateral trade and create a normalization of large-scale beef imports.
USDA’s Economic Research Service released monthly export data for July, with U.S. beef exports totaling 239.4 million pounds. This amount is slightly higher than the month of June and 10 percent higher than a year ago. Boxed-beef prices were firm this week, as packers were faced with a short work week due to the Labor Day holiday.
All primal cuts trended upward, with the exception of the rib primal, which was slightly lower.
Large supplies continue to be traded on the sport market for
50 percent beef trimmings pushing prices lower. Compared to last Friday, Choice boxed-beef closed at 191.88, up 53 cents and Select boxed-beef closed at 189.97, down 68 cents, bringing the Choice-Select spread to 1.91.
Auction volume this week included 56 percent weighing over 600 lbs and 40 percent heifers.
(USDA Market News)
Slaughter cattle on very limited offerings sold on a live basis sold steady to 3.00 lower, dressed sells mostly 2.00 lower.
Boxed Beef prices as of Friday afternoon averaged 190.93 down 0.07 from last Friday. The Choice/Select spread is 1.91. Slaughter cattle on a national basis for negotiated cash trades through Friday afternoon totaled about 14,887 head.
Last week’s total head count was 62,213 head.
Midwest Direct Markets: Live Basis: Steers and Heifers: 105.00. Dressed Basis: Steers and Heifers 163.00.
South Plains Direct Markets: Live Basis: Steers and Heifers 102.00-105.00.
Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls sold mostly 2.00 to lower with exception of the Southeast trading steady to 2.00 lower this week.
Cutter Cow Carcass Cut-Out Value Friday was 181.32 down 0.16 from last Friday.
Fri Sep 8, 2017 USDA Market News
NORTHWEST DIRECT CATTLE
(USDA Market News)
Moses Lake, Wash.
This Week Last Week Last Year
1600 4250 400
Compared to Sept. 1: Feeder steers not tested this week, heifers firm to 2.00 higher.
Trade slow this holiday shortened week. Demand remains very good.
The feeder supply included 100 percent heifers. Near 100 percent of the supply weighed over 600 lbs. Prices are FOB weighing point with a 1-4 percent shrink or equivalent and with a 3-8 cent slide on yearlings. Current sales are up to 14 days delivery.
Feeder Heifers Medium and Large 1: Current FOB Price: 800-900 lbs. 127.00-135.00 OR-ID. Large 1: Current Delivered Price: 900-950 lbs. 128.00-133.00 ID. Medium and Large 1: Future Delivery Delivered Price: 800-850 lbs. 800-850 lbs. 138.00 ID for Oct-Nov.