(Federal-State Market News)

St. Joseph, Mo.

Aug. 7


This Week: 499,600

Last Week: 185,000

Year Ago: 454,100

Compared to last week, steers and heifers sold steady to 3.00 higher. Order buyers and farmer feeders were front and center ready to procure cattle throughout this week.

Drought continues to persist this week with 54 percent of the country being in some sort of drought designation. This marks the fourth consecutive week over 50 percent.

One region of note would be in Wyoming and creeping into Northwest Nebraska. Some producers in those areas are contemplating early weaning of calves currently.

This week’s CME Cattle complex was a mixed bag as the week was a yo-yo, but did not make any big swings one way or another. This sideways action at the CME could be viewed as a friendly; as the largest single day move this week on any of the 6 front Cattle contracts was 1.33 lower. Compared to last Friday’s closes, both Live and Feeder Cattle contracts were slightly higher to around 1.50 lower.

Every year, producers are trying to get long or short yearling cattle marketed before the Labor Day holiday and this year has been no exception. The first full week in August brought around 11 percent more cattle to the sale barns than a year ago.

Cash cattle trade this week reported 3.00 higher in the Southern Plains at 100.00 while dressed sales in Nebraska were also 3.00 higher at 163.00. Readily available fed slaughter cattle numbers remain tighter in the Northern Plains and the Southern Plains continue to see supplies outnumber slaughter capacity. Boxed beef cutout values have been trading around the 204.00 level as export business continues to keep the market current, however, domestic consumer demand remains sluggish as food service business and restaurant traffic remains sluggish.

This morning’s Choice boxed beef was reported at 204.99, 1.73 higher than last Friday’s close. Select cutout was reported at 192.79, 2.90 higher than last Friday’s close. Estimated slaughter under federal inspection this week was reported at a 633K, 5k less than last week, and 14K less than last year.

Year-to-Date Estimated Cattle Slaughter Under Federal Inspection is reportedly 5.2 percent lower than last year, while beef production is 2.5 percent behind a year ago. Auction volume this week included 57 percent weighing over 600 lbs and 38 percent heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

Aug. 7

Receipts: 1,155 Last Week: 438 Year Ago: 3,360

Compared to last week: Feeder steers and heifers not tested for Current FOB delivery. Demand moderate to good. Supply consisted of 80 percent over 600 lbs and 32 percent heifers. Unless otherwise stated prices are FOB weighing 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

65 Head: 950 lbs, 131.00 Current Del

80 Head: 800 lbs, 144.00 Sep Del

140 Head: 560 lbs, 156.00 Oct Del

80 Head: 730 lbs, 146.00 Oct Del

Feeder Heifers Medium and Large 1

65 Head: 850 lbs, 126.00 Current Del

120 Head: 925 lbs, 117.00 Current Del

100 Head: 750 lbs, 142.00 Sep Del

85 Head: 520 lbs, 146.00 Oct Del

420 Head: 875 lbs, 130.00 Oct Del

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