(Federal-State Market News)

St. Joseph, Mo.

Oct. 4

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
Oct. 4
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 

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