Cattle markets

Cattle markets

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

Jan. 31

Compared to Jan. 24: No direct trade reported at time of report. Boxed beef prices Jan. 31 averaged $228.28 down $8.48. Slaughter cattle on a national basis for negotiated cash trades through Jan. 31 totaled about 11,425 head. The previous week’s total head count was 108,395 head.

Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls sold $3-5 higher.

USDA’s Cutter cow carcass cut-out value Jan. 31 was $176.05 down $1.70 from Jan. 24.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

Jan. 31

This week Last week Last year

352,300 393,000 322,100

Compared to Jan. 24: feeder cattle and calves sold unevenly steady to $3 lower. The full decline was noted in the Northern Plains where prices have been the highest, while Kansas feeders continued as much as $3-4 higher. Price levels are still perched at or near record-highs with no buying segment ready to step forward and push the market any higher, but crowds anxiously waiting for the chance to cheapen recent purchases.

Many market watchers feel that prices are top-heavy — perhaps an understatement — but demand remains good for all classes with buyers very concerned about the size of available offerings over the next several months. Midwestern farmer-feeders still fought over Nebraska Sandhill feeders this week in Bassett where near 400 head of fancy 6 weight steers averaged 649 lbs. at $207.17. This happened on a market that was a much as $10 lower than two weeks ago on the bulk of sales.

Every rocket eventually reaches its optimum elevation and then it either levels out or explodes. The former is most likely with fundamental indicators fully supportive of the ongoing rally in cattle and beef demand. The much anticipated USDA cattle inventory report lent additional support to the market with total cattle and calves as of Jan. 1 at 87.7 million head, nearly 2 percent less than last year’s 89.3 million and the smallest since 1951.

The report also quoted calves weighing under 500 lbs. at 4 percent fewer than last year, with beef replacement heifers up 2 percent. The only class of beef cattle that did not reach all-time record highs during January was slaughter cows, but this past week packers pushed many cows well over $1 per lb. with competition from local investors looking to either harvest another calf from the old girl or put some cheap weight on her.

Fed cattle trading never developed this past week with the last established market at more than an $8 premium to February CME Live Cattle futures. The industry depends on the board and cash coming together at maturation of the contract. Meanwhile, boxed beef cut-out values for the week were about $16 lower than last week. This week’s reported auction volume included 60 percent over 600 lbs. and 40 percent heifers.

AUCTIONS

This week Last week Last year

253,000 328,100 207,600

WASHINGTON 1,900. 67 pct over 600 lbs. 37 pct heifers. Steers: Medium and Large 1-2 450-500 lbs. $194.64; 600-650 lbs. $180.08; 700-750 lbs. $169.59. Heifers Medium and Large 1-2 450-500 lbs. $174.73; 550-600 lbs. $162.77; 600-650 lbs. $168.10; 650-700 lbs. $160.95; 700-750 lbs. $160.09.

DIRECT

This week Last week Last year

47,900 57,300 80,100

SOUTHWEST (Arizona-California-Nevada) There were no direct sales reported.

NORTHWEST (Washington-Oregon-Idaho) 4,100. 80 pct over 600 lbs. 27 pct heifers. Steers: Medium and Large 1-2 Current Delivery FOB Price 450 lbs. $220 Idaho; 650-700 lbs. $170-175 Washington; 750 lbs. $164 Idaho; 800-900 lbs. $158-160 Washington; 950-1000 lbs. $155 Washington. Future Delivery FOB Price 500-550 lbs. $198 for November Idaho; 600-650 lbs. $180-185 calves for October-December Idaho; 850-900 lbs. $160 for October Idaho. Heifers: Medium and Large 1-2 Current Delivery FOB Price: 450 lbs. $198 Idaho; 650-700 lbs. $164 Oregon; 850-900 lbs. $156-158 Washington. Future Delivery FOB Price 450-500 lbs. $188 for November Idaho; 600 lbs. $177 calves for December Idaho; 800-850 lbs. $156 for October Idaho.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

Jan. 31

This week Last week Last year

4,100 2,150 1300

Compared to Jan. 24: Stocker and feeder cattle steady. Trade moderate this week as most cattle are coming out of grow yards and some are being contracted for next fall. Demand remains good. The feeder supply included 73 percent steers and 27 percent heifers. Near 80 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 3-6 cent slide on yearlings.

Steers: Medium and Large 1-2: Current Delivery FOB Price: 450 lbs. $220 Idaho; 650-700 lbs. $170-175 Washington; 750 lbs. $164 Idaho; 800-900 lbs. $158-160 Washington; 950-1000 lbs. $155 Washington. Future Delivery FOB Price: 500-550 lbs. $198 for November Idaho; 600-650 lbs. $180-185 calves for October-December Idaho; 850-900 lbs. $160 for October Idaho.

Heifers: Medium and Large 1-2: Current Delivery FOB Price: 450 lbs. $198 Idaho; 650-700 lbs. $164 Oregon; 850-900 lbs. $156-158 Washington. Future Delivery FOB Price: 450-500 lbs. $188 for November Idaho; 600 lbs. $177 calves for December Idaho; 800-850 lbs. $156 for October Idaho.



User Comments