(Federal-State Market News)

St. Joseph, Mo.

July 19

RECEIPTS:      Auctions      Direct    Video/Internet       Total
This Week      149,400       59,200           217,200       425,800
Last Week      135,700       77,700           121,100       335,500
Year Ago       158,300       78,700             5,400       242,400

   Compared to last week, steers and heifers sold uneven; 3.00 lower to 3.00 
higher.  Receipts this week were somewhat curtailed as summer returned to the heart 
of the country.  Dangerous heat indexes spread from the Southwest to the Northeast 
and everywhere in between mid to late week, making it difficult for both man and 
beast in its aftermath.  The worst problem is the humidity that was brought to the 
midsection of the country after the popup showers and Hurricane Barry moved 
through.  Some rains moved through the Northern Plains with some ranchers in South 
Dakota still trying to get their first cutting of hay done.  Farmers and ranchers 
have been very focused on moisture needed after last year’s momentous drought that 
encompassed a vast area of grazing acres.  Even though this spring has been extremely 
wet in places, some areas do need a drink now as heat indexes rise into triple 
digits.  Feedyards were sure hoping that last week’s uptick in futures would follow 
through this week, however negotiated cash fed cattle showed weakness.  The CME 
Cattle Complex gave back most of the gains of a week ago amid fundamental pressure 
and the yo-yo of grain futures this time of year.  Negotiated cash fed cattle live 
trade in the Southern Plains this week was steady to 1.00 lower at 111.00, while 
Nebraska sales were unevenly steady at 113.00 to 113.50.  Dressed sales in Nebraska 
were steady at 182.00 to 185.00.  For the week, the Choice cutout closed 0.62 higher 
lower at 213.42, while Select was 0.09 lower at 189.51.  Cattle Slaughter under 
federal inspection estimated at 651K for the week, 4K less than last week and 16K 
more than a year ago.  The July 1 Cattle on Feed released today reported On Feed at 
102 percent; Placements at 98 percent and Marketings at 97 percent.  This makes the 
third month in a row that the On Feed number is the largest since the data series 
started in 1996.  The inventory included 7.01 million steers and steer calves, down 2 
percent from the previous year. This group accounted for 61 percent of the total 
inventory. Heifers and heifer calves accounted for 4.47 million head, up 8 percent 
from 2018.  All cattle and calves in the United States on July 1, 2019 totaled 103 
million head, unchanged from the 103 million head on July 1, 2018.  The 2019 calf 
crop in the United States is expected to be 36.3 million head, down slightly from 
last year's calf crop. Calves born during the first half of 2019 are estimated at 
26.5 million head, down slightly from the first half of 2018.  Auction volume this 
week included 57 percent weighing over 600 lbs and 42 percent heifers. 
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
July 19
Receipts:  1,706      Last Week:  592    Year Ago:  5,910

   Compared to last week:  Feeder steers steady to 2.00 higher, feeder 
heifers mostly 3.00 higher on few sales to compare to from last week. 
Demand good.  Fat cattle trade picking up this week causing feedyards to 
fill up open pen space.  Supply consisted of 100 percent over 600 lbs. 
and 34 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
  240    850-875     862    129.00-136.00     132.45   Current Del   
  180      910       910       133.50         133.50   Current Del   
  190      950       950       134.00         134.00   Current Del   
  275     1025      1025       126.50         126.50   Current Del   
  245    750-775     764    141.00-150.50     145.00   Aug     Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
   90      665       665       145.50         145.50   Current Del   
  181      800       800       130.50         130.50   Current Del   
  135      850       850       125.00         125.00   Current Del   
   30      650       650       145.50         145.50   Aug     Del   
  140      740       740       134.00         134.00   Aug     Del     

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