(Federal-State Market News)

St. Joseph, Mo.

Feb. 22

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week       208,200      57,700             48,600     314,500  
Last Week       223,800      78,200            3,600     305,600  
Last Year       222,100      44,900             39,000     306,000
Compared to last week, steers and heifers sold uneven; 1.00 lower to 2.00
higher in the North and South Central areas while the demand for steers and
heifers waned in the Southeast for a steady to 4.00 lower price trend.
Even though auction receipts just barely topped the 200K mark for this report,
feedlots and grazers were ready to procure cattle this week if producers could 
get them to town.  Many auction locations are still reeling from a winter
storm last Friday and earlier this week as many locations received more snow
than anticipated, making feeding stock the main priority when daybreak comes.
Calving season has started in many areas now and producers are somewhat
concerned with the abundance of moisture received in recent weeks.  Some early
born calves are coming into this world seeing snow and anecdotes of rancher 
neighbors having either bad or good luck this year is abundant.  One issue
that some are happy about is the above normal snowfall.  After last year's 
drought that encompassed much of the grassland regions, ranchers like to see
the snow as previous generations remind the newer stewards of the land that
"snow makes grass". In Nebraska, our USDA Market Reporter Thomas Walthers
notes that hay "buyer inquiry and demand picked up this week from local and
out of state buyers.  This year has been a typical Nebraska winter with
February dealing us the most snow we have had in several years. This cold,
snowy weather is giving ranchers many sleepless nights while calving first
calf heifers and aiding in burning through hay piles faster than one would
like. A lot of hay has been fed in the last 30 plus days."  After winter held
on last year into the middle of April, hay supplies in large cow states are
getting low and inventories have not been replenished yet after lower yields
in 2018.  Last Friday at Lexington (NE) Livestock Market, two loads of 812 lb
steers sold at 156.50.  On Monday at Russell (IA) Livestock Auction a short
half load of 600 lbs steers sold at 177.00, while on Wednesday at Kist 
Livestock Auction in Mandan, ND a load of 600 lb steers sold at 177.00 and a 
package of 606 lb steers sold at 178.50.  On Wednesday at Hub City Livestock 
Auction in Aberdeen, SD a load of 721 and 736 lb steers sold at 161.25 and 
160.50 respectively.  On Thursday at Ogallala (NE) Livestock Auction, a load 
of 601 lbs steer calves sold at 179.00.  Also on Thursday at Appanoose County
Livestock in Centerville, IA a package of 707 lb steers sold at 163.50 and 
another package of 719 lbs steers at New Cambria (MO) Livestock sold at
161.00.  Today at Burwell (NE) Livestock Market, two loads of 619 lb steers
headed to the feedyard at 174.25.  Outselling many 7 weight steers nationwide 
on Wednesday at Sheridan Livestock Auction in Rushville, NE a load of 712 lbs
replacement quality heifers sold at 160.25.  Today, the February Live Cattle 
contract has been trading at its highest level since the contract came on the
Board in September 2017.  The steady rise in the Feb contract is evident with
a few corrections since November 2018.  The April and June contracts have all
followed that trendline as well.  The Cattle-on-Feed for January 1 released
today were mostly within industry guesses and would be viewed as a neutral
report for On feed and Marketings, while Placements would be somewhat bullish.
On Feed reported at 102 percent of a year ago; Placements at 98 percent and 
Marketings at 99 percent.  Auction volume this week included 62 percent 
weighing over 600 lbs and 44 percent heifers.
Auctions Receipts:  208,200    Last Week 223,800    Last Year 222,100
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
Feb. 22
Receipts:  1,938     Last Week:  3,700    Year Ago:  1,500
Compared to last week:  Feeder cattle prices mostly steady.  Trade slowed 
some for the week as winter weather moved across the Northwest dumping heavy 
snows.  Feedlots supply included 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
  423    700-715     705    148.75-150.00     149.54   Current Del   
  130      825       825       139.00         139.00   Current Del   
   45      825       825       140.00         140.00   Current Del  Split Loads
  260      860       860       141.00         141.00   Current Del   
  365      840       840       142.00         142.00   Mar     Del   
   60      900       900       138.00         138.00   Mar     Del  Split Loads
Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  535    685-690     689    138.50-141.32     140.53   Current FOB   
   75      700       700       139.00         139.00   Current Del   
   25      725       725       138.00         138.00   Current Del  Split Loads
   20      850       850       132.00         132.00   Mar     Del  Split Loads

Recommended for you