NATIONAL FEEDER AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week Last year
349,000 403,800 362,100
Compared to Nov. 10: Steers and heifers sold mostly steady to 5.00 lower; giving back all of last week’s advances. Fed cattle traded earlier than normal this week, mostly Wednesday at 119.00 in the Southern Plains and mostly 190.00 dressed in the Northern Plains; 5.00 lower and 2.00 to 4.00 lower respectively.
Tuesday and Friday of this week saw feeder cattle futures remarkably lower. The market is in need of some bullish news to sustain the current trading levels. Packers have still had an appetite to keep the chain speed ramped up for market ready steers and heifers.
Actual cattle slaughter for the week ending Nov. 4 was reported near 646K, around 13K more than the previous five-week average.
The dressed steer slaughter weight has now been reported over 900 lbs for the second week in a row, however, still 11 lbs under year ago’s published weight.
Retailers have been increasing beef specials even with Turkey Day upon us. This week, standing rib roasts were the most advertised items on the National Retail Beef Report with near one-third of all stores sampled having that item on their circular.
Middle meat volumes on that report are near 75 percent higher than a week ago as beef tries to move volume this week and consists of 36 percent of the total activity index this week.
The Restaurant Performance Index was pegged at 100.7 for the month of September, 0.5 percent higher than August.
After the last couple weeks of large auction volume on this report, total receipts were curtailed by more than 50K when compared to last week.
NASS Cattle on Feed report was released this afternoon, with cattle on feed Nov. 1 totaling 106 percent and cattle placed on feed in October totaling 110 percent, both above estimates.
Fed cattle marketed in October came in at 106 percent, in line with industry guesses. October is an important month when referencing placements as it is the largest month in regard to number of animals placed into feedyards. Auction volume this week included 38 percent weighing over 600 lbs and 40 percent heifers.
(USDA Market News)
Note: This report will not be released next week due to the Thanksgiving holiday.
Slaughter cattle trade in Texas and Kansas traded mostly 5.00 lower.
Nebraska live and dressed sales sold 3.00-4.00 lower. Boxed beef prices Moved sharply higher on the week, however cattle futures traded in the red for the majority of the week.
Boxed Beef prices as of Friday afternoon averaged 197.55 down 7.97 from last Friday.
The Choice/Select spread is 7.97. Slaughter cattle on a national basis for negotiated cash trades through Thursday afternoon totaled 126,118 head. Last week’s total head count was 85,134 head.
Midwest Direct Markets:
Live Basis: Steers and Heifers: 119.00-120.00.
Dressed Basis: Steers and Heifers 188.00-190.00
South Plains Direct Markets:
Live Basis: Steers and Heifers 119.00-120.00.
Slaughter Cows and Bulls (Average Yielding Prices):
Slaughter cows and bulls sold steady to 3.00 higher. Demand moderate to good in the South Central region as hunting season has begun and this takes precedence over sending cows to market.
Cutter Cow Carcass Cut-Out Value Thursday was 168.17 down 1.97 from last Friday.