AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
RECEIPTS: Auctions Direct Video/Internet Total This Week 106,800 58,100 14,700 179,600 Last Week 150,400 58,600 211,800 420,800 Year Ago 122,200 47,800 57,200 227,200 Compared to last week, steers and heifers sold 3.00 lower to 2.00 higher, with the North Central region being on the positive side of neutral. Weakness in the Southern Plains and the Southeast regions this week were widespread at auctions as demand is waning ahead of the fall calf runs. Light receipts again with a few specials scheduled for this holiday shortened week. Year to date total receipts on this report tallied 10.066 million head, 4.4 percent below a year ago and 0.4 percent below the previous five-year average. Historically, fall runs would start gearing up in the next couple of weeks, however the feeder market is not in any position to challenge any highs presently with fat cattle trade being quite weak in the last month. With the front month of Live Cattle futures being under 100.00 and packers giving bids of 100.00, there isn’t much optimism surrounding cattle trade currently. Weak Live Cattle futures complex is hanging heavy on every cattle feeders’ mind as they want to buy these yearlings and get them placed on feed, but breakeven prices are much higher than where current futures prices are at. Outgoing fed cattle continue to lose money and the outlook going forward is very murky leaving cattle feeders very unsure of what they should do. The competition for feeder cattle is high despite the abundant negativity currently. Feeder cattle producers have been hesitant to offer yearlings for sale as they would like to see a higher market but with an abundance of grass, the need to pull cattle off and ship them to town has diminished. Feedlot backgrounders are just as hesitant to sell cattle but are also very concerned of where the market could go if the Live Cattle futures contracts would go lower yet. Another negative influencing factor to be rumored or fact would be devastating to the backgrounding and cattle feeding sectors. Harvesting hay in Nebraska has proven challenging this year with all the summer rain. Now it is time for the silage choppers to have their difficulties as they have fired up this week. Playing in the muddy fields has tested the patience of all equipment operators. Feedlots and/or custom choppers have not only utilized their front wheel assist tractors for packing, but also to aid in pushing or pulling trucks through the wet fields. There are still a few choppers have old time silage wagons available for use and some of them have been spotted this week. Cattle Slaughter under federal inspection estimated at 565K for the week, 79K less than last week and 6K less than a year ago. If realized, the estimated harvest on Saturday of 101K would be the third largest Saturday in 10 years! Packer margins are no doubt driving the number harvested, but packers realize that humans must have mental and physical downtime eventually. For the week, the Choice cutout closed 4.46 lower at 227.31, while Select was 10.33 lower at 201.94. Auction volume this week included 54 percent weighing over 600 lbs and 41 percent heifers
Northwest Weighted Average Direct Feeder Cattle Weekly Summary WA-OR-ID-UT
Receipts: 1,082 Last Week: 925 Year Ago: 90 Compared to last week: Feeder steers and heifers lightly tested with a higher undertone noted. Supply consisted of 100 percent over 600 lbs. and 88 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 30 750 750 138.00 138.00 Current Del 45 825 825 133.00 133.00 Current Del Split Loads 57 875 875 132.00 132.00 Current Del Feeder Heifers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 30 650 650 136.00 136.00 Current Del 40 725 725 130.00 130.00 Current Del Split Loads 30 750 750 131.00 131.00 Current Del 700 850 850 124.00 124.00 Current Del 30 950 950 118.00 118.00 Current Del Feeder Heifers Medium and Large 1-2 Head Wt Range Avg Wt Price Range Avg Price Delivery 120 850 850 116.00 116.00 Current Del