AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
240,400 305,200 237,200
Compared to last week, steers and heifers sold steady to 2.00 higher in the North Central region, while the South Central and Southeast were steady to 4.00 lower. Demand was moderate to good as buyers were watching how futures were reacting to outside sources and the short supply of feeder cattle in the Northern Plains this week.
On Thursday at Mitchell (SD) Livestock Auction’s Bar-B-Que special, a large load of 811 lb thin fleshed steers sold at 140.75.
This week’s receipts on this report are near 50K less than last week, but around 25K more than a year ago. Ranchers have held on to calves and yearlings a little longer than in previous years.
Dry conditions in parts of the Plains states have made the rancher evaluate if they want to keep an open cow or older cow with udder or disposition issues for rebreeding this year.
Year-to-Date Beef Cow slaughter has increased this year as ground beef has been a commodity that has been in demand this spring/early summer as consumers continue to try to find the most economical way to feed their families.
Preliminary totals of YTD Beef cow slaughter through May 31 is 1.5 percent more than a year ago and around 15 percent more than the previous five-year average.
In converse, YTD fed cattle slaughter is 7.4 percent behind a year ago and near 2 percent behind the five-year average. Typical daily cattle slaughter under federal inspection in January and February was around 120K plus or minus.
This week’s business day average was 116.4K and a testament to the industry’s resolve to supply the country with a nutritious protein. Estimated slaughter under federal inspection this week was reported at a 658K, 22K more than last week, and only 11K less than last year.
Fed cattle trade in the Southern Plains sold 5.00 to 9.00 lower from mostly 104.00 to 108.00. Dressed sales in Nebraska sold 10.00 to 15.00 lower at 165.00 to 172.00.
This week’s monthly Supply and Demand report did not reflect any changes from last months’ report.
Corn planting is basically done for the year with only North Dakota lagging behind due to their waterlogged soils from last fall through this spring. Boxed beef has decreased in value over the last couple of weeks and this morning’s Choice boxed beef value was 31.52 lower than last Friday’s close, while Select cuts were 26.77 lower.
The Restaurant Performance Index published last week for the month of April stood at 94.9 which is a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry.
Auction volume this week included 54 percent weighing over 600 lbs and 42 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
Compared to June 5: Feeder steers and heifers lightly tested and not enough sales to establish a trend. Supply consisted of 100 percent over 600 lbs and 38 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
35 Head: 875 lbs; 120.00 Current Del Split Load
155 Head: 950 lbs; 109.42 Current Del
45 Head: 950 lbs; 110.00 Current Del Split Load
Feeder Heifers Medium and Large 1
55 Head: 850 lbs; 110.09 Current Del Split Load
90 Head: 900 lbs; 103.00 Current Del