(Federal-State Market News)

St. Joseph, Mo.

June 21


Last Week: 289,400

This Week: 282,300

Year Ago: 240,400

Compared to last week, steers and heifers sold steady to 5.00 higher; with the largest gains coming in the North Central region. Order buyers are willing to take on early weaned calves or yearlings off short grass in the drought stricken areas up north.

The main driver for the higher cattle prices this week was the falling grain prices. For the week, nearby July corn lost near 30 cents on the week after a limit down day on Thursday. Likewise, soybeans were not fortunate either, with the July Contract down 1.1250 for the week after being near 1.20 lower on Thursday and over 66 cents higher on Friday. The grains complex changes were very much in the red on Thursday only to bounce back somewhat on Friday as many analysts were thinking that the downturn was overdone.

The Cattle Complex was mostly higher on the week with only the back 4 months being lower on the week. June LC contract was 2.35 higher on the week and front 6 months of feeder cattle contracts were over 3.00 higher for the week. Boxed beef values have cooled dramatically this week with Choice boxed beef closing the week 14.28 lower at 323.28, while Select was 21.60 lower at 283.61 for the same time period. On Friday afternoon, the Choice-Select spread was reported at 39.67, the largest on record.

Negotiated live trading of fed cattle in the Southern Plains sold at 122.00, while dressed sales in Nebraska sold at mostly 195.00. Weekly Cattle Slaughter under federal inspection estimated at 663K for the week, 2K less than last week, and 174K more than a year ago. Auction volume this week included 58 percent weighing over 600 lbs and 45 percent heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

June 18


This Week Last Week Last Year

2148 805 1570

Compared to last week's light test: Feeder steers not tested for Current FOB delivery. Feeder heifers lightly tested and 2.00 higher. Demand good. Supply included: 100% Feeder Cattle (42.6% Steers, 57.4% Heifers). Feeder cattle supply over 600 lbs was 74%. 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. and 8-12 cent slide < 600 lbs. Livestock reported this week originated from AZ, ID, OR, UT.

Steers — Medium and Large 1

300 Head: 925 lbs, 137.00 Jul DEL

65 Head: 925 lbs, 137.00 Aug DEL

Steers - Medium and Large 2

550 Head: 550 lbs, 152.00 Current DEL Mexican origin

Heifers — Medium and Large 1

550 Head: 780 lbs, 128.86 Current FOB

178 Head: 828 lbs, 125.41 Current FOB

180 Head: 900 lbs, 126.00 Current DEL

810 Head: 900 lbs, 143.00 Sep DEL