AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week: 257,000
Last Week: 276,500
Year Ago: 201,100
Compared to last week, steers and heifers sold 1.00 to 4.00 higher. Demand was good to very good again this week especially early week sales that did not get to take full advantage of the price increases the previous week.
Cost of gains in the feedyard took front and center this week when the WASDE report was released on Wednesday mid-day. Corn and soybean futures immediately locked limit up and closed there.
Planting intentions were released with 91.144 million acres of corn projected to be planted, while soybeans were estimated at 87.600 million acres and both less than industry guesses.
As the major feedstocks for cattle were sharply higher, buyers wanted to procure more thinner fleshed cattle that will have compensatory gain instead of a fleshier one that will not feed very efficiently.
On Wednesday, the CME Feeder Cattle contracts were rocked by the higher grain prices and closed from 2.100 to 3.025 lower on all CY 2021 contracts. Negotiated live cash cattle in the Southern Plains sold at 117.00 this week, 2.00 higher than the previous week and Nebraska dressed sales were quoted at 188.00 to 190.00, 3.00 to 5.00 higher.
Wholesale beef demand by retailers and foodservice is sending wholesale prices soaring for this time of year.
Grilling season is right around the corner and grocery stores are gearing up as warmer April and May weather will bring out the grills that have been under a tarp for the winter.
Choice boxed beef values closed the week 15.19 higher at 252.85, while Select was 19.20 higher at 246.97. The Choice-Select spread was nearly half of last week and was published at 5.88. Cattle Slaughter under federal inspection estimated at 609K for the week, 40K less than last week, and 22K less than a year ago.
Around Easter every year, beef and hog slaughter facilities take some time to give the workers an extra day on either side of the holiday.
Auction volume this week included 54 percent weighing over 600 lbs and 46 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last year
1430 1074 65
Compared to last week: Feeder steers steady to 4.00 higher. Not enough comparable Heifers to test trend. Demand moderate. Supply included: 100% Feeder Cattle (35.8% Steers, 64.2% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 2-3% shrink or equivalent, with a 4-8 cent slide > 600 lbs. Livestock reported this week originated from ID, UT.
Steers — Medium and Large 1
113 Head: 850 lbs, 127.12 Current FOB
25 Head: 700 lbs, 145.00 Current DEL
77 Head: 750 lbs, 141.00 Current DEL
109 Head: 800-825 lbs, 138.81 Current DEL
188 Head: 850 lbs, 139.00 Current DEL
Heifers — Medium and Large 1
50 Head: 725 lbs, 135.00 Current DEL
115 Head: 775 lbs, 133.00 Current DEL
563 Head: 800 lbs, 131.23 Current DEL
190 Head: 850 lbs, 130.63 Current DEL