(Federal-State Market News)

St. Joseph, Mo.

July 26

RECEIPTS:      Auctions      Direct    Video/Internet       Total
This Week      131,200       62,500           113,800       307,500
Last Week      149,400       59,200           217,200       425,800
Year Ago       141,600       67,700           100,700       310,000

   Compared to last week, steers and heifers sold steady to 3.00 higher with some 
Northern Plains auctions reported 4.00 to 8.00 higher.  Demand was good to very good 
this week as calves and yearlings were sought after.  Most of the offerings were 
coming off summer grass and were heavier than normal given the abundance of rainfall 
this spring and early summer.  On Wednesday at Bassett (NE) Livestock Auction, a 
string of fancy 526 lb steers sold from 208.50 to 210.00, while a load of 702 lb 
steers sold at 172.50.  On Thursday at Valentine (NE) Livestock Auction a load of 
1067 lb steers sold at 140.00 while a load of 1142 lb steers sold at 130.60.  Grazing 
conditions may be elongated somewhat this year due to that abundance of grass with 
the runs of yearlings that happen ahead of the Labor Day holiday.  Ranchers have been 
ecstatic to see greener pastures this week compared to last year at this time when 
several producers were feeding hay to keep their cow herd together.  This week, the 
drought monitor is showing near 11 percent in drought status with the largest piece 
of that being in the upper Northwest part of the country.  Around 3 percent is listed 
in the Moderate drought category.  This is in a drastic contrast to a year ago, when 
near 54 percent of the country showed in drought status and 32 percent in Moderate 
drought or worse.  Forage harvest has continued right along this year after a lengthy 
period of wetter weather at the beginning of the season.  For those along the major 
river ways the desire for more moisture sounds irrational as the Mississippi River 
along the banks of St. Louis just this week finally fell below flood stage for the 
first time since March.  Weekly auction receipts (131,200) on this report is the 
smallest non-holiday week since August 2017.  This week’s weather was a complete 180 
from the previous one.  A cold front moved across the midsection of the country 
bringing cooler temperatures after a week that was tough for man and beast when heat 
indexes settled north of 100.  Boxed-beef values have pretty much held their ground 
during the dog days of summer as excellent beef demand, continuing large kill levels 
and good margins remain for packers.  For the week, the Choice cutout closed 1.25 
lower at 212.17, while Select was 1.17 lower at 188.34.  Negotiated cash fed cattle 
in the Southern Plains reported at 1.00 higher than last week at 112.00.  Cattle 
Slaughter under federal inspection estimated at 651K for the week, 3K less than last 
week and 11K more than a year ago.  Auction volume this week included 56 percent 
weighing over 600 lbs and 40 percent heifers.
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
July 26
Receipts:  1,901      Last Week:  1,706    Year Ago:  3,004

   Compared to last week:  Feeder steers 2.00-3.00 higher, feeder 
heifers mostly steady on few sales. Demand good.  Direct trade picking up this week 
with feedyards needing to fill up pen space.  Carcass weights remain lower indicating 
front end currentness.  Supply consisted of 100 percent over 600 lbs. and 22 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
  150      800       800    141.00-142.00     141.40   Current Del   
   15      850       850       134.00         134.00   Current Del  Split Loads
  101    900-925     914    134.00-137.50     135.96   Current Del   
 1215      925       925       136.50         136.50   Aug     Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  160      750       750       134.00         134.00   Current Del   
  195    850-875     860    124.00-126.00     125.22   Current Del   
   65      850       850       128.00         128.00   Current Del  Split Loads

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