NATIONAL FEEDER AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week Last year
401,300 Head 357,600 Head 326,600 Head
Compared to Oct. 27: Steers and heifers sold 2.00 to 6.00 higher with some markets being up to 9.00 higher on some individual weight ranges. Cattle feeders are anxious to refill pens after selling cattle at 125.00 this week; 14.00 higher than just two short weeks ago.
Old timers will recall fed cattle moving by leaps and bounds back in the fall of 2003 and they all remember that what goes up usually comes down.
Some feedyards are reporting that pens are filling up with those freshly weaned calves from auctions, however there have been some yearlings still out there in the marketplace.
In McCook, Neb., on Monday, three loads of 869 lb steers with all the bells and whistles sold at 181.25.
Then on Wednesday in Aberdeen. S.D., at Hub City Livestock, a little over two large loads of 932 lb steers sold at a whopping 170.40.
Both of those transactions dollared up to just shy of $1600/head and optimism is abounding with cheaper feed than in recent years in feedyards.
Some reports of difficulty finding cattle trucks have crept into conversations this week as calf marketings are in full swing now. After last week’s sharp drop in temperatures in the mid-section of the country, high winds were being talked about over the weekend and early this week. Reports of down corn in Nebraska and Iowa are a concern to farmers that still need to get harvest completed.
Producers are pondering their next move to get the grain harvested; bale it, windrow and combine it, or just simply graze it.
Boxed beef prices continue to rise going into fall and analysts are suggesting that out front meat sales are at higher prices. Choice boxed beef closed today at 208.74, 5.44 higher than last Friday and 20.04 higher than a year ago.
On this report, over 400K total receipts were reported this week; the first time since Jan. 13, 2017. That particular week 73.5 percent of the total was attributed to auctions; however, this week 82.7 percent can be attributed to auctions.
For the past three weeks, auction receipts averaged 316K; compared to 289K for the previous three year average. Producers continue to find ways to market cattle at higher prices this fall; a welcome sight for the checkbook.
The December and February CME Live Cattle futures continue to make new contract highs this week as the Dec was 6.48 higher than last Friday to close at 127.30 and the Feb closed 6.00 higher at 131.75.
CME Feeder Cattle futures also continue to push to contract highs as the November closed 4.92 higher than last week at 160.87 while the January contract was 8.52 higher at 161.52.
Auction volume this week included 38 percent weighing over 600 lbs and 39 percent heifers.
(USDA Market News)
Slaughter cattle on a live basis in all major major feeding regions traded 6.00-8.00 higher. Dressed trade was 12.00-15.00 higher in Nebraska. Boxed Beef prices as of Friday afternoon averaged 200.09 up 3.02 from last Friday. The Choice/Select spread is 15.66.
Slaughter cattle on a national basis for negotiated cash trades through Friday afternoon totaled about 116,562 head. Last week’s total head count was 14,504 head.
Midwest Direct Markets:
Live Basis: Steers and Heifers: 124.00-125.00.
Dressed Basis: Steers and Heifers 192.00-195.00
South Plains Direct Markets:
Live Basis: Steers and Heifers 120.50-125.00.
Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls sold mostly 1.00-2.00 lower, with exception of The Southeast being steady to 2.00 higher.
Cutter Cow Carcass Cut-Out Value Friday was 169.85 up 0.79 from last Friday.