(Federal-State Market News)

St. Joseph, Mo.

Jan. 11

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  

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