(Federal-State Market News)

St. Joseph, Mo.

June 26


This Week Last Week Last Year

271,500 216,600 238,000

Compared to last week, steers and heifers sold steady to 4.00 higher, with the biggest advance being in the North Central region. Loads of yearlings continue to find the marketplace with good to very good demand for them at auctions this week, bringing some much-needed excitement to the auctions.

Receipts for this report will be curtailed next week due to the Independence Day holiday occurring late week.

Weather in the Midwest has proven to be better than the long-term forecasts released a couple months ago. Ranchers have had ample opportunity so far this summer to get their winter forage supply baled up in either round or square bales.

Pastures in the Southern Plains need a drink as severe and extreme drought conditions persist in the High Plains, with Colorado showing over 56% being D2 or higher; New Mexico over 41%; Kansas over 10%; and Texas over 9%.

Wheat harvest started in the Plains a few weeks ago in Texas and is slowly moving northward and is now in the heart of Kansas with yields Kansas reported from 50-90 bushels per acre (averaging in the 70s) with excellent test weight.

Boxed-beef cut-out prices have been pressured in recent weeks and continues to slide lower even though grilling season is upon the country. Boxed beef values need to find a support level on the retail side after prices were sharply higher at the consumer level a couple months ago.

The U.S. Quarterly Hogs and Pigs Report was released Thursday with all hogs and pigs totaling 79.6 million head up 5.2% from last year which would be considered bearish. Bottom line is that pork is protein and will be competing for consumer demand.

Industry analysts have been encouraged in recent weeks with the estimated slaughter under federal inspection volumes reported nationwide. The weekly estimate is at 680K head, an increase of 24K over last week and 10K more than a year ago. If realized, the 680K will be the largest since week ending March 28, 2020.

This morning’s boxed beef prices for Choice was reported at 207.58 and 199.76 for Select. Auction volume this week included 57%weighing over 600 lbs and 40% heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

June 26


This Week Last Week Last Year

665 1,570 0

Compared to last week: Feeder steers and heifers not fully established. Movement of cattle has slowed coming into the July 4th holiday. Demand moderate. Seller interest light to moderate. Supply consisted of 100% over 600 lbs and 36% heifers.

Unless otherwise stated prices are FOB weighting points with 2-3% 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

150 Head: 925 lbs; 118.00 Current Del

240 Head: 962 lbs; 115.00 Current Del

Feeder Steers Medium and Large 1-2

35 Head: 800 lbs; 123.32 Current FOB Split Load

Feeder Heifers Medium and Large 1

150 Head: 850 lbs; 113.00 Current Del

60 Head: 925 lbs; 108.00 Current Del

Feeder Heifers Medium and Large 1-2

30 Head: 800 lbs; 113.32 Current FOB Split Load

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