(Federal-State Market News)

St. Joseph, Mo.

Feb. 1

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   

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