(Federal-State Market News)

St. Joseph, Mo.

Aug. 9

This Week: 450,100
Last Week: 249,100
Year Ago: 462,900
   Compared to last week, feeder steers prices were uneven, ranging from 2.00 lower 
in South-Central region to 3.50 higher in the North-Central region.  Feeder heifers 
in both the South-Central and North-Central regions trended mostly steady to 1.00 
lower.  Southeastern feeder steers and heifers traded 1.00-2.00 lower on light 
offerings.  Extremely hot weather has gripped most of the southern trading areas this 
week.  Pasture conditions are deteriorating, causing for concern for the remainder of 
grazing season. Producers are weighing their options between decreased forage and the 
thought of hauling cattle to the auction barn in these extreme conditions.   
Temperatures topped 100 in the southern plains, with heat indices 110 plus all week.  
On the bright side, some northern areas felt a little relief as thunderstorms and 
rain moved across some regions.  CME feeder cattle positions traded lower throughout 
last week and spent much of this week trying to gain back some of their losses.  
However, on Friday all contract months trended lower.  With August closing at 138.90, 
September contract closed at 138.45 and the October contract closed at 138.25.  Grain 
traders spent most of the day repositioning themselves ahead of the highly 
anticipated Monday report.  There is a wide range of estimates for corn, 83.5-89.8 
million acres planted.  Down from 91.7 that was first reported for corn in June. 
Soybean estimates range from 78-83.5 million acres planted. The June report had 
soybean acres at 80 million. The WASDE report plus the Re-survey of June Acres report 
is set to be released at 11 am central time.  Negotiated cash trade followed a 
similar trend compared to recent weeks with early dressed purchases in the north 
ranging from 183.00-185.00.  Dressed purchases late in the week traded mostly at 
180.00. In the Western Cornbelt early live purchases traded from 114.00-115.00, with 
early live purchases in Nebraska at 113.00.  Trade in the Southern Plains remains 
slow to develop as producers continue to pass current 109.00 bids on limited packer 
interest.  Cattle slaughter for the week was estimated at 645,000 compared to 626,000 
the previous week.  Actual slaughter weights for week ending July 27th showed steer 
carcass weights 3 pounds higher than last week at 806 pounds. Heifers were 5 pounds 
heavier compared to last week at 795 pounds.  August CME contracts for the week were 
up .40 to settle at 108.05 with October contracts down 1.07 settling at 106.75. For 
the week, the Choice cutout closed 1.64 lower at 216.37, while Select was 3.18 lower 
at 193.81.  Auction volume this week included 53 percent weighing over 600 lbs. and 
38 percent heifers.
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
Aug. 9
Receipts:  3,360      Last Week:  4,130    Year Ago:  1,054

   Compared to last week:  Feeder steers lightly tested, few sold steady.
No comparisons of current delivery heifers for a comparison.  Demand
moderate to good.  Cattle futures traded mostly on the positive side
this week.  Slaughter cattle trade has yet to develop for the week
at the time of this report.  Supply consisted of 100 percent over 
600 lbs. and 76 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
  120      850       850       135.00         135.00   Current Del   
   90      915       915       136.00         136.00   Current Del   
  600      925       925       137.00         137.00   Sep     Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
   65      800       800       131.00         131.00   Current Del   
  300      860       860       131.00         131.00   Current Del   
  200      920       920       130.00         130.00   Current Del   
  900      850       850       138.00         138.00   Aug-Sep Del   
 1085      850       850       138.00         138.00   Sep     Del   

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