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

Nov. 9

Compared to Nov. 2: Slaughter cattle very lightly tested. Few sales trading $1 lower. Dressed sales in Nebraska not well tested. Feedyards and Packers both pulling on the rope to make ends meet. Boxed beef prices declining again despite slaughter rates slowing down. Feedyards watching a declining cattle futures and looking at a very small corn crop that could mean higher feed costs.

Boxed beef prices Nov. 9 averaged $183.14 down $1 from Nov. 2. The Choice/Select spread is at $17.13. Slaughter cattle on a national basis for negotiated cash trades through Nov. 9 totaled about 14,000. Nov. 2 total head count was 84,884.

Midwest Direct Markets: Live Basis: Steers and Heifers 35-80 Percent Choice, 1200-1400 lbs. $125-127 Dressed Basis: Steers and Heifers: few $195.

South Plains Direct Markets: Live Basis: Steers and Heifers 35-65 percent Choice, 1100-1400 lbs. $125-126.

Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls unevenly steady.

USDA's Cutter cow carcass cut-out value Nov. 9 was $159.96 down $.18 from Nov. 2.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

Nov. 9

This week Last week Last year

360,200 307,600 416,800

Compared to Nov. 2, feeder calves over 600 lbs. sold unevenly steady to weak with trends ranging from $2 higher to $3 lower. Stocker calves under 600 lbs. traded steady to $3 lower with the full decline on 550-600 lb. heifers and the best demand noted for steer calves under 500 lbs. which had instances of higher trends at several markets throughout the U.S. There are currently not enough true yearling feeders available for a good market test, and the few that are being offered for sale have received heavy amounts of supplemental feed which distorts their market value. Persistently dry conditions over the last two years throughout the central portions of the country have caused unprecedented; liquidation of breeding stock, movement of stocker cattle into confined feeding operations, and early marketing of home-raised calves in an effort to preserve cow herds. Virtually no "green" or strictly grass feeders are available and the majority of the new-crop calves on offer are right off the cow.

Normally, producers are still making use of stockpiled grass to put cheap pounds on feeders or to help background calves during weaning. The current shortage of pasture and hay (not to mention $7-8 corn) is drastically affecting the condition of available feeders and the demand for these cattle. Traditional winter backgrounders have been slow to enter the market, despite the smallest calf crop in 60 years. Most believe there is still plenty of demand out there but prospective buyers are conserving their feed, water, and medicine until later in the season. But, nationwide auction receipts for the year are running more than 5 percent less than 2011 and 10 percent less than the five-year average, and most market watchers expect offerings to tighten even more from December through spring. In most major marketing areas this week (especially south of I-70) the cost per head of a 475 lb. calf is within $50/hd of one weighing 625 lbs., and in many documented cases the light-weight calf actually costs more. It's not that bidders don't realize that each of those 150 lbs. should at least be worth the cost of the bigger calf per pound. Buyers simply want to grow that lighter calf on 2013 grass and fatten that calf on 2013 corn. Some form of moisture is badly needed in the Plains and the Midwest as a nor'easter dumped rain and snow on the eastern seaboard's concrete jungles that were already saturated by Superstorm Sandy. Southern Plain's wheat fields are thirsty for the chance of moisture in the weekend forecast, but sharply colder temperatures may cause the crop to crawl back in the ground and hibernate for the winter. Fed cattle sold $1 lower from $125-126 with the latter price reserved mostly for the Texas Panhandle. This week's reported auction volume included 36 percent over 600 lbs. and 41 percent heifers.

AUCTIONS

This week Last week Last year

291,500 265,200 325,200

WASHINGTON 3,300. 51 pct over 600 lbs. $51 pct heifers. Steers: Medium and Large 1-2 400-450 lbs. $173.48; 450-500 lbs. $166.75; 500-550 lbs. $144.80; 600-650 lbs. $136.24; 650-700 lbs. $136.16; 700-750 lbs. $128.85; 750-800 lbs. $129.19. Heifers: Medium and Large 1-2 400-450 lbs. $141.57; 450-500 lbs. $138; 500-550 lbs. $133.52; 550-600 lbs. $133.87; 650-700 lbs. $123.24; 700-750 lbs. $121.72; 750-800 lbs. $119.45.

DIRECT

This week Last week Last year

35,500 35,800 48,600

SOUTHWEST (Arizona-California-Nevada) 3,300. No cattle over 600 lbs. No heifers. Holsteins: Large 3 February 275 lb. calves 153 del.; 300 lbs. $143-149 del.

NORTHWEST (Washington-Oregon-Idaho) 1,900. 74 pct over 600 lbs. 26 pct heifers. Steers: Medium and Large 1-2 Current FOB 800 lbs. $141-142 Idaho; 850 lbs. $135 Washington. Holsteins: Large 2-3 Current FOB 300 lbs. $140 Idaho. Heifers: Medium and Large 1-2 Current FOB 800 lbs. $130 Washington.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

Nov. 9

This week Last week Last year

1,900 2,600 3,600

Compared to Nov. 2, Stocker cattle not tested this week. Feeder cattle $1-2 higher. Trade slow with good demand. The feeder supply included 74 percent steers and 26 percent heifers. Near 74 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 FOB Price: 800 lbs. $141-142 Idaho; 850 lbs. $135 Washington.

Holstein Steers: Large 2-3: Current FOB Price: 300 lbs. $140 Idaho.

Heifers: Medium and Large 1-2: Current FOB Price: 800 lbs. $130 Washington.