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

June 8

Compared to June 1: Slaughter cattle traded $1 higher in Texas and Kansas. Live trade in Nebraska $1-2 higher with dressed trades steady to $1 higher, instances $2 higher. Boxed beef prices June 8 averaged $189.98 down $1.60 from June 1. The Choice/Select spread is at $14.55. Slaughter cattle on a national basis for negotiated cash trades through June 8 totaled about 102,000 head. June 1 total head count was 123,180.

Midwest Direct Markets: Live Basis: Steers and Heifers 35-80 Percent Choice, 1200-1400 lbs. $123-123.50. Dressed Basis: Steers and Heifers: $195-196, few $197.

Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls unevenly steady with markets in Colorado closed for the holiday.

USDA's Cutter cow carcass cut-out value June 8 was $180.51 up $1.22 from June 1.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

June 8

This week Last week Last year

304,700 161,600 263,500

Compared to June 1, yearling feeders sold mostly steady with instances as much as $2 higher. Calf prices continued to trend unevenly, from $5 lower to $5 higher with the full declines posted in the drier areas of the Southeast. Receipts were fairly heavy following last week's holiday interrupted markets, with many of this week's higher yearling trends just now realizing last week's gains.

However a good portion of the heavier receipts were due to dry conditions forcing cattle to market in places like Missouri and Arkansas which sold 91 percent and 140 percent more cattle than the same week a year ago, respectively. At the Ozarks Regional Stockyard in the extreme south-central Missouri town of West Plains that regularly sells cattle from both states, they have sold 16,300 head of feeder cattle over the last three weeks compared to just over 4,500 during the same period in 2011.

Early corn is rooted down and much more attractive to the eye, but rainfall is needed soon or this year's grain production will fall well short of lofty expectations. Dry conditions are also keeping the demand for this spring and summer's yearling feeders under wraps. Many market participants believed grass yearling prices could get out of hand this year with tight numbers available. Although impressive, the market still lags well behind the all-time record highs posted in late February (CME cash feeder cattle index on Feb. 24 of $157.44 based on a 750 lb. steer, compared to the latest available of $155.14). Cattle feeders would like to see an impressive corn crop a little closer to the bin before breaking new ground on direct or video contract sales for late summer yearlings. That's not to say prices can't get impressive when buyers can see quality, flesh, and weighing condition standing in the ring in front of them as was the case in Ogallala, Neb., on Feb. 7 when more than 400 head of top quality 700-800 lb. steers sold with an average weight of 762 lbs. and an average price of $162.54. Fed cattle saw a surprising spark in the CME Live Cattle futures on June 7 and took advantage with live sales $1-1.50 higher from $122-123.50. Slaughter rates seasonally peak during June, which could help the fat market trudge through the next month or six weeks of heavier showlists that analysts have predicted. However, not everyone is convinced of heavier market-ready supplies and these stories can only be partially confirmed by eye witnesses on the ground. This week's reported auction volume included 51 percent over 600 lbs. and 43 percent heifers.

DIRECT

This week Last week Last year

37,300 36,400 30,100

SOUTHWEST (Arizona-California-Nevada) 1,900. No cattle over 600 lbs. No heifers. Holsteins: Large 3 Current 300 lbs. $180 del.; 350 lb. Holstein cross $150 del.; October 275 lbs. $200 del.

NORTHWEST (Washington-Oregon-Idaho) There were no direct sales reported.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

June 1

This week Last week Last year

None None N/A

Compared to June 1, stocker and feeder cattle trade slow with no confirmed sales. Trade remains slow as many grass-type cattle turned out on pastures and held in firm hands. 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.

Recommended for you