(Federal-State Market News)

St. Joseph, Mo.

Feb. 8

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week       259,700      56,100            22,300     338,100  
Last Week       210,700      53,900             3,500     268,100  
Last Year       224,300      57,700            26,500     308,500
Compared to last week, steers and heifers sold uneven; from steady to 2.00 lower 
in the North Central area to steady to 4.00 higher in the Southeast and South Central 
areas.  Some auctions in the Southern areas reported spots up to as much as 10.00 
higher on what would be considered cattle suitable for grazing and demand for those 
kind is expected to be good in anticipation of grass.  Most grazing areas are not 
showing any signs of drought stress currently.  Another widespread area of colder 
weather along with precipitation hit the breadbasket of the country this week after 
last week's Polar Vortex that left many shaking their head and knowing that one thing 
they cannot change is Mother Nature.  The CME Cattle Complex was higher on the week 
with the largest increases bookending this week.  The front six Feeder Cattle 
contracts were 1.58 to 2.30 higher on the week while Live Cattle contracts were 1.35 
to 1.92 higher for the same timeframe.  For the first 4 days into the February Live 
Cattle contract, there have been 100 certificates tendered for delivery.  With the 
negotiated cash fed cattle trading stuck around the 123.00-124.00 level for the past 
6 weeks and delivery month February around 127.00 plus or minus, it has made for a 
hedger to consider delivering cattle on the contract with that 3.00 to 4.00 
difference.  Cash fed cattle trading has just started in NE as of this writing with 
dressed sales at 200.00, 2.00 higher than last week.  Lives sales in the South have 
not been established yet, however a higher market is expected as feedlots are 
currently passing higher bids than the previous week.  Cow Calf producers still have 
some optimism as some replacement quality heifers have fetched higher prices than 
their steer mates this week.  On Wednesday at Green City Livestock Auction in Green 
City, MO a short half load of yearling replacement heifers weighing 729 lbs sold at 
180.00 or just a tick over $1300.00 per head.  Also on Wednesday at Bassett Livestock 
Auction Market in Bassett, NE a half load of 717 lb heifers sold at 156.50.  For the 
week, the Choice cutout closed 1.09 higher at 215.35, while Select was 1.98 lower at 
211.17.  Cattle Slaughter under federal inspection estimated at 614K for the week, 
21K higher than last week and 25K more than a year ago.  Preliminary Yearly Federally 
Inspected Slaughter cattle numbers for 2018 showed a 2.6 percent increase over 2017 
and a 7.2 percent larger harvest over the previous five year average.  Steer 
slaughter posted a 0.8 percent decline while heifer slaughter was 6.4 percent larger 
year over year.   Steers arrived at 4.1 percent increase and heifers an 11.3 percent 
increase over their previous five year averages.  Total cow slaughter in 2018 was 7.0 
percent over year ago and 10.4 percent over the previous five year average.  Beef cow 
slaughter showed the way with an 8.6 percent larger number than a year ago and 14.1 
percent larger than the previous five year average.  Hog Slaughter for 2018 was 2.6 
percent larger than the previous year.  Auction volume this week included 54 percent 
weighing over 600 lbs and 41 percent heifers.

Auctions Receipts:  259,700    Last Week 210,700    Last Year 224,300
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
Feb. 8
Receipts:  1,025     Last Week:  2,369    Year Ago:  155

   Compared to last week:  Feeder steers and heifers unevenly steady on few comparable 
sales.  Winter weather continues to hamper livestock movement. Feedlots 
Supply included 100 percent over 600 lbs and 51 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
   75      700       700       151.00         151.00   Current Del   
   60      825       825       138.00         138.00   Current Del  Split Loads
  160      850       850       139.00         139.00   Current Del   
   90      850       850       139.00         139.00   Mar     Del   
  114      850       850       139.00         139.00   Mar     Del  Split Loads

Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  176      650       650       143.00         143.00   Current Del   
   60      825       825       132.00         132.00   Current Del  Split Loads
  155      825       825       133.00         133.00   Mar     Del   
  135      825       825       135.00         135.00   Mar     Del  Split Loads

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