AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
RECEIPTS: Auctions Direct Video/Internet Total This Week 210,700 53,900 3,500 268,100 Last Week 186,800 35,500 32,100 254,400 Last Year 282,200 43,700 1,000 326,900 Compared to last week, steers and heifers sold mostly 1.00 to 4.00 higher with instances 6.00 higher. Many auctions saw diminished receipts for the second week in a row. Buyers were willing to purchase calves for grazing this week and those calves could see some health problems in the coming weeks if they weren't weaned and vaccinated. Large swings in temperatures from mid-week to the weekend are being forecast and can wreak havoc on a calves' immune systems if the vaccination protocols aren't followed. The big story this week has been the Polar Vortex that encompassed 70% of the United States population seeing freezing temperatures or below. Regular temperatures in many areas of the Northern Plains and Midwest saw the mercury stay in the little bulb at the bottom of the thermometer. Travel mid-week was brutal on both man and beast and some auctions either rescheduled due to the cold or cancelled this week altogether. Those in the North took a pause in marketing somewhat to make sure animals were tended to and tried not to overwork as the temperatures took a toll mentally and physically. This week is being reported on major news networks as the coldest temperatures in the US in a generation. Chicago on Wednesday was greeted with Antarctica weather and that isn't supposed to happen in the middle of the U.S. The CME Cattle Complex hovered around steady Monday through Wednesday this week and then saw a technical correction on Thursday. For the week, the front six months of Live cattle contracts were 0.40 to 0.60 lower and the front six Feeder Cattle contracts were 0.47 to 1.10 lower. Fundamentals have been trying to push the market higher. Negotiated cash fed cattle need a boost and traders were anticipating a stronger market this week, however as of this writing, cash trading has not been established yet. Actual slaughter data for weeks ending December 15 and 22, 2018 were released this week and the weekly difference between the cattle estimate and actuals were only 287 head for w/e December 15 and only 1,079 head for w/e December 22. The statement on the top of the Actual Slaughter reports expresses that reports will be published in chronological order until the data gets up to date. NASS will release the January 1 Cattle on Feed report on February 22 (originally scheduled for January 25). In addition, the February 1 Cattle on Feed report will be published on March 8 (originally scheduled for February 22). For the week, the Choice cutout closed 2.75 lower at 214.26, while Select was 1.12 higher at 213.15. This is the closest Choice-Select spread (1.11) since the values were inverted (Select valued 0.07 higher than Choice) on September 12, 2017. Cattle Slaughter under federal inspection estimated at 593K for the week, 17K lower than last week and 20K less than a year ago. Auction volume this week included 52 percent weighing over 600 lbs and 43 percent heifers. Auctions Receipts: 210,700 Last Week 186,800 Last Year 282,200 (52 pct over 600 lbs, 43 pct heifers)
Northwest Weighted Average Direct Feeder Cattle Weekly Summary WA-OR-ID-UT Feb. 1 Receipts: 2,369 Last Week: 1,927 Year Ago: 180 Compared to last week: On current delivery basis, feeder steers and heifers steady to 2.00 higher. Feeder cattle demand in a lull with winter weather slowing things down and adding to large inventories but fat cattle trade is starting to pick up and large packer harvests have evened the playing field a bit. Feedlots Supply included 100 percent over 600 lbs and 38 percent heifers. Unless otherwise stated prices are FOB weighting points with 2-3 percent shrink or equivalent and a 5-10 cent slide on calves and a 4-12 cent slide on yearlings from base weights. Current sales are up to 14 days delivery. Feeder Steers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 160 725 725 147.00 147.00 Current Del 666 750-775 770 144.00-148.00 146.47 Current Del 383 800 800 141.00-142.00 141.39 Current Del 260 850 850 140.00 140.00 Current Del Feeder Heifers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 165 675 675 142.00 142.00 Current Del 341 725-740 737 139.00-140.00 139.16 Current Del 70 750 750 135.00 135.00 Current Del 324 750 750 135.00 135.00 Feb-Mar Del