AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
RECEIPTS: Auctions Direct Video/Internet Total This Week 87,400 64,900 65,900 218,200 Last Week 104,800 27,900 70,100 202,800 Year Ago 163,700 60,400 249,600 473,700 Compared to last week, steers and heifers sold 1.00 to 5.00 higher. Not as many calves were seen at auctions this week as yearlings. Typically, backgrounders like to get their stock sold prior to the Labor Day holiday. However, there was a kink thrown into the plans of some just a couple weeks ago, but most areas (exception being the Southern Plains) have plentiful grass around them, so holding on for a couple extra weeks didn’t add much cost to the bottom-line. The supply of feeders was light this week with receipts much lower than normal. Coupling this week’s receipts with last week, a new two-week non holiday low was set by only having 192,900 head sold at weekly auctions. During the week, the CME Cattle Complex was showing some resilience and moving higher Monday through Thursday. As negotiated fed cattle trading slowly started at a lackluster live price of 106.00 in the Southern Plains, both Live and Feeder Cattle moved sharply lower on Friday. For the week, soon-to-be expiring August Live Cattle was 4.70 higher to close at 104.62. The next four months were 0.60 to 1.35 higher on the week. The August and September Feeder Cattle contracts were 2.78 and 0.88 higher on the week respectively. The October to March contracts were 0.08 to 0.50 lower on the week. With the uptick in early to mid-week futures, Wednesday and Thursday cattle auctions were met with good to very good demand. On Wednesday at Winter Livestock in Pratt, Kansas a load of 961 lb steers sold at 142.75. On Thursday at Valentine (NE) Livestock Auction, a load of 900 lb red white face steers sold at 146.00. For the week, the Choice cutout closed 1.17 lower at 237.52, while Select was 0.55 lower at 212.71. Beef markets reacted sharply higher last week as fears of reduced product availability initially led to the sharp rises in prices for Choice boxed beef, up 12 percent from the August 9 close to the peak on August 21. Much of this rise was attributed to buying for the coming Labor Day holiday (September 2) as retailers competed to acquire sufficient product to cover planned holiday promotions. Prices have since begun to decline as buyer cover their needs and retreat from the market. Cattle Slaughter under federal inspection estimated at 654K for the week, 3K more than last week and 12K more than a year ago. The August 1 Cattle on Feed released today reported On Feed at 100 percent; Placements at 98 percent and Marketings at 107 percent. This makes the fourth month in a row that the On Feed number is the largest since the data series started in 1996. Cold Storage Report for July was released Thursday with Total red meat supplies in freezers were up 3 percent from the previous month and up 1 percent from last year. Total pounds of beef in freezers were up 12 percent from the previous month but down 6 percent from last year. Frozen pork supplies were down 3 percent from the previous month but up 9 percent from last year. Auction volume this week included 45 percent weighing over 600 lbs and 42 percent heifers. Auctions Receipts: 87,400 Last Week 104,800 Last Year 163,700
Northwest Weighted Average Direct Feeder Cattle Weekly Summary WA-OR-ID-UT
Receipts: 900 Last Week: 855 Year Ago: 965 Compared to last week: Feeder steers and heifers not well tested this week. Supply consisted of 100 percent over 600 lbs. and 100 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 No Test Feeder Heifers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 900 850 850 134.60 134.60 Sep-Oct FOB