NATIONAL FEEDER

AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

April 12

RECEIPTS:

This Week: 343,600

Last Week: 257,000

Year Ago: 181,100

Compared to last week, steers and heifers sold steady to 4.00 higher.

Order buyers came to auctions ready to procure all types of feeder cattle again this week. Grazing calves and feedlot ready cattle were in demand in spite of rising feed costs.

Nearby May corn futures closed the week near 5.80 and December new crop corn closed the week only 3.5 cents shy of 5.00 after being 17.5 cents and 12 cents higher on the week, respectively.

After the fed cattle prices got over their seven week Groundhog Day, fed cattle in the Southern Plains have now traded 1.00 higher, 2.00 higher and 3.00 higher in consecutive weeks.

This week's trading in the Southern Plains were reported at 120.00, while Nebraska dressed sales were reported at 195.00. With the trade at 117.00 last week, first tender notice date on the CME Live Cattle April contract was Monday.

There was a flurry of activity this week (mostly early to mid-week) in Southern Plains delivery locations. Cash has been under futures in those locations and short positions were hoping on convergence but prepared to utilize the live delivery process in case that didn't happen.

There were 119 loads tendered for delivery from Monday to Wednesday this week. Demand for beef has increased domestically as spring is upon us with the increased temperatures and the ability to grill outdoors becomes a more viable option for meals.

Choice boxed beef values closed the week 19.32 higher at 272.17, while Select was 17.10 higher at 264.07. The Choice-Select spread was published at 8.10. Choice boxed beef prices have risen 46.30 in the last four weeks while Select cutouts were 43.80 higher in the same time period.

Cattle Slaughter under federal inspection estimated at 641K for the week, 32K more than last week, and 112K more than a year ago. Auction volume this week included 54 percent weighing over 600 lbs and 42 percent heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

April 9

RECEIPTS

This Week Last Week Last year

866 1430 1116

Compared to last week: Not enough trades this week for a trend. Demand moderate to good. Supply included: 100% Feeder Cattle (49.2% Steers, 50.8% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 2-3% shrink or equivalent, with a 4-8 cent slide >600 lbs. Livestock reported this week originated from ID, UT.

Steers — Medium and Large 1

152 Head: 825 lbs, 139.00 Current DEL

182 Head: 870 lbs, 137.30 Current DEL

74 Head: 900 lbs, 137.00 Current DEL

18 Head: 800 lbs, 144.00 May DEL

Heifers — Medium and Large 1

65 Head: 725 lbs, 138.00 Current DEL

212 Head: 822 lbs, 130.00 Current DEL

140 Head: 910 lbs, 133.00 Current DEL

190 Head: 850 lbs, 130.63 Current DEL

Heifers — Medium and Large 1-2

23 Head: 850 lbs, 128.00 Current DEL