(Federal-State Market News)

St. Joseph, Mo.

May 10


This Week Last Week Last Year

253,500 181,900 295,100

Compared to last week, steers and heifers sold 1.00 to 4.00 lower, with the exception of steers in the North Central region suitable for grass being 1.00 to 3.00 higher. Demand was good for grass cattle, moderate to instances good for feedlot placements.

Again this week, the rise in feedstuff prices is on the mind of every rancher from the Southern Plains to High Plains to the Southeast. The current drought map looks much different than that of a year ago. Last year, the map showed no area in the country being in the exceptional drought designation (D4); whereas this year, 9.4 percent of the country is in that category. The Extreme drought (D3) category currently is at 22.6 percent while last year was less than 1 percent. The large grain producing state of Iowa is currently showing over 78 percent in some type of drought designation.

With the runup in grain prices due to concerns over grain ending stock, substantial rainfall has been spotty this spring and the calendar hasn’t turned to summer yet. New Crop December corn futures were 0.7275 higher this week after being 0.6725 higher in the combined previous three weeks.

New crop November Soybean futures were 0.9375 higher for the week; 0.7650 higher for the previous three weeks.

August Feeder Cattle contract was 2.475 lower for the week while the September was 3.225 lower.Cumulatively for the past four weeks, the August FC Contract was 12.53 lower.

Negotiated cash fed cattle in the Southern Plains was lightly tested this week at mostly 119.00.

Dressed sales in Nebraska sold at 188.00 to 190.00. Demand for beef continues to push the cutout higher as the Memorial Day, Father’s Day and Independence Day buying is happening. Choice boxed beef values closed the week 9.38 higher at 305.88, while Select was 7.22 higher at 290.27.

The Choice-Select spread widened this week and was published at 15.61.

Steer dressed weight for week ending April 24, 2021 was reported at 896 lbs, 2 lbs less than the previous week and 5 lbs heavier than a year ago.

Cattle Slaughter under federal inspection estimated at 638K for the week, 11K less than last week, and 162K more than a year ago. Year-to-Date cattle slaughter is estimated at near 4.8 percent more than a year ago, currently.

Auction volume this week included 53 percent weighing over 600 lbs and 44 percent heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

May 7


This Week Last Week Last Year

330 1003 NA

Compared to last week: Feeder steers and heifers not well tested. Demand moderate. Supply included: 100% Feeder Cattle (54.5% Steers, 45.5% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 2% shrink or equivalent, with a 8 cent slide >600 lbs. Livestock reported this week originated from ID, OR.

Steers — Medium and Large 1

60 Head: 775 lbs, 140.00 Current DEL

120 Head: 900 lbs, 128.00 Current DEL

Heifers — Medium and Large 1

150 Head: 710 lbs, 132.40 Current DEL

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