AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
RECEIPTS: Auctions Direct Video/Internet Total This Week 192,700 60,600 4,300 257,600 Last Week 208,000 73,900 24,800 306,700 Year Ago 249,600 47,600 39,200 336,400 Compared to last week, steers and heifers sold uneven; 1.00 lower to 3.00 higher. Higher discounts than the normal trends noted on fleshy, unweaned calves at this time in the early fall. Demand was best for yearlings coming off grass in the Dakotas and Nebraska. On Thursday at Ogallala (NE) Livestock Auction, a load of 870 lb steers sold at 155.75. Buyers in Missouri are now focusing on purchasing calves with at least a 45-day weaning period as well as at least two rounds of shots. However, in Nebraska bawling calves were met with good demand. Most of the calves had pre-condition shots which buyers are looking for. Many buyers compile lots of cattle from various places and they feel like these shots help keep freshly weaned calves healthier than non-fall vaccinated animals. Cooler temps and rain across different sections of the Midwest has slowed harvest down. Many farmers are on the sidelines hoping sunny weather will prevail in this weekend and they can continue their harvest. After last week’s sharp uptick in the CME Cattle Complex, Live Cattle futures were nominally to 2.33 higher, with the largest increase coming on front delivery month October. In the past two weeks, the October Live Cattle was 8.00 higher. Feeder Cattle futures didn’t have the support this week like last week, but the two week gain of over 4.00 on the November, March and April was still encouraging. The red ink was all over the feeder board on Monday and Tuesday after a bullish Grain Stocks report. The Quarterly Stocks report on Monday arrived at a corn inventory of 2.114 billion bushels, 331 million bushels below the September WASDE report. Also, in that report, soybean inventory was reported at 913 million bushels, down 92 million from the September WASDE report. Harvest has been hampered by wet, cool conditions this week and with some forecast models projecting a surge of colder temperatures late next week in the Central US. If that happens, yields could be cut short on the later planted corn and soybeans provided that some maturing still needs to happen. Packers continue to chase the grading of fed cattle as they want more Choice product. This week in the Southern Plains, live sales are 3.00 to 4.00 higher at 107.00. Northern Plains sales are 5.00 higher on dressed sales at 170.00, while live sales aren’t totally established yet, but some have been confirmed in the 107.00 to 108.00 range. For the week, the Choice cutout closed 0.62 lower at 211.96, while Select was 2.94 lower at 186.92; putting the Choice-Select spread at 25.04. Cattle Slaughter under federal inspection estimated at 639K for the week, 9K less than last week and 1K less than a year ago. Auction volume this week included 51 percent weighing over 600 lbs and 43 percent heifers.
Northwest Weighted Average Direct Feeder Cattle Weekly Summary WA-OR-ID-UT
Receipts: 1,424 Last Week: 1,659 Year Ago: 1,708 Compared to last week: Feeder steers and heifers steady to 2.00 lower on limited comparable sales. Demand moderate. Supply consisted of 81 percent over 600 lbs. and 67 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 55 900 900 129.70 129.70 Current FOB 115 550 550 153.00 153.00 Current Del 65 825 825 140.00 140.00 Current Del 60 875 875 138.00 138.00 Current Del 39 635 635 150.00 150.00 Oct-Nov Del 135 675 675 150.00 150.00 Oct-Nov Del Feeder Heifers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 280 850 850 140.60 140.60 Oct-Nov FOB 95 700 700 145.00 145.00 Current Del 60 800 800 135.00 135.00 Current Del 110 875 875 133.00 133.00 Current Del 35 950 950 127.00 127.00 Current Del 50 600 600 143.00 143.00 Oct-Nov Del 115 650 650 142.00 142.00 Oct-Nov Del 110 825 825 134.00 134.00 Oct-Nov Del Feeder Heifers Medium and Large 1-2 Head Wt Range Avg Wt Price Range Avg Price Delivery 100 500 500 142.00 142.00 Current Del