(Federal-State Market News)

St. Joseph, Mo.

May 24

RECEIPTS:      Auctions      Direct    Video/Internet       Total
This Week      130,300       45,300             1,000       176,600  
Last Week      148,900       29,100            16,500       194,500  
Year Ago       184,200       47,500            10,600       242,300

   Compared to last week, steers and heifers sold uneven; 3.00 lower to 4.00 
higher.  The lower trends occurring earlier in the week while the higher trends 
happening later in the week.  The story this week was spring storms and heavy rains 
that created massive flooding across a vast area. OKC West moved their Tuesday calf 
sale to Wednesday as many roads in the area were closed due to flooding after seven 
to eight inches of rain fell in the El Reno area.  Kansas and Missouri were not 
spared either as up to 10 inches fell from Northeast Oklahoma through central 
Missouri where a tornado moved through the capital of Jefferson City.  Soggy, 
waterlogged soils are prevalent throughout much of the country and is a far cry from 
a year ago when the drought monitor had over 25 percent of the country in a D1 
moderate drought designation or worse.  Swollen rivers have made transportation of 
goods up the Mississippi, Ohio and Missouri Rivers almost non-existent.  On Thursday 
this week, MO-Kan Livestock (MO) in Butler held their M-Kan Classic sale with four 
World Livestock Auctioneer Contest winners selling 13 loads of light 7-weight steers 
from 160.50 to 165.00 and a weighted average of 162.98.  Also, on Thursday at 
Clarinda (IA) Livestock Auction a load of 912 lb steers sold at 140.85.  The May 1 
Cattle on Feed released today reported On Feed at 102 percent; Marketings at 107 
percent and Placements at 109 percent.  The May 1 on feed number was reported at 
11.818 million head making it the largest since the data series started in 1996.  At 
1.842 million head, placements were reported to be the third largest April placement 
number since 1996.  Cold Storage Report for April was released on Wednesday with 
total red meat supplies in freezers up slightly from previous month and down 5 
percent from last year.  Total lbs of beef in freezers were at 430.3 million lbs, 
down 5 percent from previous month and down 9 percent from last year.  Frozen pork 
supplies were at 621.9, up 2 percent from last month, and down 2 percent from last 
year.  For the week, the Choice cutout closed 1.33 higher at 221.64, while Select was 
0.19 higher at 208.47.  Cattle Slaughter under federal inspection estimated at 641K 
for the week, 19K less than last week and 10K more than a year ago.  Auction volume 
this week included 48 percent weighing over 600 lbs and 43 percent heifers.
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
May 24
Receipts:  525     Last Week:  1,216    Year Ago:  2,054

   Compared to last week:  Feeder steers and heifers lightly tested and no good 
comparisons. Demand good. Cattle on feed report coming out today expected to be quite 
bearish.  Supply consisted of 100 percent over 600 lbs. and 0 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
  525      925       925       129.00         129.00   Current Del  

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