AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
RECEIPTS: Auctions Direct Video/Internet Total This Week 366,900 65,000 154,400 586,300 Last Week 79,300 23,200 7,400 109,900 Last Year 372,300 39,800 118,200 530,300 Compared to last week, steers and heifers sold uneven, from 4.00 lower to 1.00 higher. This week's total receipts on this report is the largest since July 2018 and is 50,000 head larger than the first marketing week of 2018. Cattle futures continue to move higher this week as the CME Cattle Complex put on more than 1.00 this week with in most contracts with the February Live contract being 3.05 higher on the week. Weather scares started mid-week when Winter Storm Gia was named and projected to move through the heart of the country late week and into the weekend. Rain, snow and freezing rain are going to be seen in the breadbasket of the country and the East Coast is not going to be spared from this storm either. Feedyards that were already wet will see more moisture fall from the sky, dashing any hopes that they will dry out anytime soon. Here's to hoping that the ground underneath will be frozen when the storm moves in, otherwise the mud will just get deeper. Calendar wise January 11 is a long way from the end of winter. Muddy feedyards in Kansas, Nebraska and Iowa want to get cattle moved out of the poor pen conditions as cattle performance has been seriously impeded due to above average moisture recently. News of beef demand rising in recent years is a welcome sight to beef producers as ground beef and loin cuts have driven that demand due to their popularity in retail outlets. For the week, the Choice cutout closed 2.05 lower at 212.46, while Select was 1.39 lower at 206.27. On the week, boxed beef cutout values lower on light demand and moderate offerings. Select and Choice rib, chuck, and loin cuts steady to weak while round cuts weak to lower. Cattle Slaughter under federal inspection estimated at 626K for the week, 14K above a year ago and a little above industry expectations this week. Packer margins have no doubt shrunk in the last few months and carcass weights coupled with lower yields will have an impact moving forward with product tonnage being available in the marketplace. A smattering of negotiated cash fed cattle trade has started in the Northern Plains 2.00 higher at 197.00 dressed. Live sales have not been established yet in the North and South Plains as of this writing, however a steady to stronger weather market is anticipated. Auction volume this week included 55 percent weighing over 600 lbs and 40 percent heifers. Auctions Receipts: 366,900 Last Week 79,300 Last Year 372,300 (55 pct over 600 lbs, 40 pct heifers)
Northwest Weighted Average Direct Feeder Cattle Weekly Summary WA-OR-ID-UT Jan. 11 Receipts: 2,032 Last Week: 0 Year Ago: 1,519 Compared to last week: Feeder steers and heifers not established last week. Feedlots starting to sell, some from muddy conditions and some due to slightly better packer bids. Supply included 70 percent over 600 lbs and 44 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 281 525 525 178.00 178.00 Current FOB 38 592 592 156.00 156.00 Current Del 230 700 700 153.00-156.00 155.09 Current Del 202 750-775 764 146.00-149.00 147.56 Current Del 200 800-825 816 141.00-142.00 141.34 Current Del 195 875 875 143.00 143.00 Jan-Feb Del Feeder Heifers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 295 515 515 168.00 168.00 Current FOB 76 680 680 145.00 145.00 Current Del 175 725-735 729 137.50-141.50 139.77 Current Del 165 750 750 137.00-140.00 138.42 Current Del 45 800 800 130.00 130.00 Current Del 130 825 825 138.00 138.00 Jan-Feb Del