AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
356,600 320,100 431,800
Compared to Oct. 18 yearling steers and heifers sold uneven; 3.00 lower to 1.00 higher. Steer and heifer calves sold 1.00-4.00 lower. Good demand remains for yearlings.
Colorado, Kansas, and the Texas Panhandle received an early snow late this week with widespread areas expecting temperatures next week to be 15-20 degrees below normal, leaving unweaned, non-conditioned calves in light demand. Potential health risks have kept most buyers at bay for calves.
However, preconditioned long-time weaned calves did attract much more of the buyers attention creating wide price spreads. Moreover, with harvest now in full swing, some farmer feeders are focusing on getting crops out rather than placing calves. With most feedlots at or near full capacity throughout most feeding regions, placing cattle has become challenging as empty pens are already spoken for or getting much needed maintenance work completed.
CME feed cattle contracts were generally 2.00 higher on the week with October and December live cattle contracts gaining 1.35-1.55. Negotiated cash fed trade in the Southern Plains provided a psychological victory for cattle feeders with the bulk of sales reported at 110.00, the highest since the early August plant fire. The trend of pursuing high grading cattle continued throughout all feeding regions with higher live prices reported as the week progressed. Several areas of the Northern Plains still have tightly held negotiated cattle on show lists priced in the 115.00-116.00 area, willing to trade on Saturday morning if needed, as the previous three weeks.
Cattle slaughter under federal inspection estimated 640,000 for the week, 1,000 higher than last week and 5,000 higher than a year ago. Steer carcass weights for week ending Oct. 12 were up 2 lbs at 901 lbs; 2 lbs above a year ago. That is also the highest thus far for 2019. The Sept. 1 Cattle on Feed released today reported On Feed at 99 percent; Placements at 102 percent and Marketings at 101 percent.
For the week the Choice cutout closed 7.40 higher at 225.44 with Select 6.40 higher at 199.84; placing the Choice-Select spread at 25.60. Cold Storage Report for September was released Tuesday with Total red meat supplies in freezers down 2 percent from the previous month and down 8 percent from last year. Total pounds of beef in freezers were down 1 percent from the previous month and down 8 percent from last year.
Frozen pork supplies were down 1 percent from the previous month and up 2 percent from last year. Auction volume this week included 51 percent weighing over 600 lbs and 38 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
965 1,360 214
Compared to last week: Feeder steers and heifers not well tested but few comparable sales were steady. Demand moderate. Supply consisted of 100 percent over 600 lbs. and 50 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
125 Head: 785 144.64 144.64 Current FOB
230 Head: 725 151.00 151.00 Current Del
40 Head: 800 146.00 146.00 Current Del Split Loads
90 Head: 650 159.00 159.00 Nov Del
Feeder Heifers Medium and Large 1
30 Head: 725; lbs; 137.00 Current Del Split Loads
180 Head: 850 lbs; 138.00 Current Del
Feeder Heifers Medium and Large 1-2
270 Head: 660 lbs; 141.55 Nov Del