AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
405,800 0 531,700
No recent price comparison nationwide for week ending Jan. 9 due to two full weeks of auctions being on limited scheduling or completely closed in observance of the Christmas and New Years holiday.
Demand was reported as good throughout the nation the first full marketing week of 2021.
The first full week of the year is typically the largest volume week of the year and this has been no exception with a heavy supply of cattle covering the entire weight spectrum. Many producers hold their calf crop until the first week of the year to sell and this year was no different.
There will undoubtedly be another Overall, weather conditions were favorable for transporting cattle and auctions ran longer than normal at most locations. There are some areas where ranchers are dealing with some mud, as temperatures were not cold enough to keep the ground frozen.
Wheat grazing areas have recently received significant amounts of moisture and are looking forward to a few sunny days to get more calves turned out when the wheat growth can outpace forage consumption by the bovine.
Light weight grazing type calves with many more days left before heading to a feedyard found the best demand as there is a lot more time for them to offer opportunities for profit.
The CME Cattle Complex started the year out with a bang and not to the positive side. On Monday, Feeder Cattle contracts bumped up against closing lower limit, but held to close 3.725 to 4.20 lower on the front three months.
Live Cattle contracts were pulled along and closed 2.125 to 3.00 lower for the front three months. This week in the fed cattle arena, the Northern Plains dressed sales sold at 176.00 to 177.00, while trades in the Southern Plains live sales sold at 112.00.
Corn prices have soared recently and are at a six-year high near the 5.00 mark with the U.S. dollar index at its lowest level since 2018.
Choice Boxed-beef values continue to see some erosion, trading near their lows as January is not noted as a consumer beef month with loins and ribs down considerably since the holidays.
On the week, Choice cutout closed 3.15 lower at 206.80, while Select was 1.04 higher at 196.69; as the Choice-Select spread has narrowed to 10.11. Cattle Slaughter under federal inspection for week ending Jan. 9, 2021 was estimated at 651K for the week, 136K more than last week(holiday) and 8K more than a year ago.
Auction volume this week included 59% weighing over 600 lbs and 39% heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
1680 2634 2941
Compared to Jan. 18: Feeder steers and heifers not well tested for Current FOB, however a lower undertone is noted. Demand moderate with good seller interest. Supply included 100% Feeder Cattle (61.9% Steers, 38.1% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 2-3% shrink or equivalent, with a 4-8 cent slide > 600 lbs. Livestock reported this week originated from ID, OR, UT.
Steers — Medium and Large 1
250 Head: 850 lbs, 128.37 Current FOB
50 Head: 650 lbs, 148.00 Current DEL
170 Head: 721 lbs, 142.71 Current DEL
340 Head: 750 lbs, 143.10 Current DEL
35 Head: 850 lbs, 135.00 Current DEL
130 Head: 900 lbs, 130.00 Current DEL
Steers — Medium and Large 1-2
65 Head: 820 lbs, 128.61 Current DEL
Heifers — Medium and Large 1
150 Head: 850 lbs, 121.37 Current FOB
40 Head: 625 lbs, 139.00 Current DEL
95 Head: 659 lbs, 137.11 Current DEL
250 Head: 700 lbs, 136.00 Current DEL
70 Head: 775 lbs, 128.00 Current DEL
35 Head: 800 lbs, 129.00 Current DEL