NATIONAL FEEDER

AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

May 24

RECEIPTS:

This Week Last Week Last Year

227,200 194,800 257,800

Compared to last week, steers and heifers sold steady to 2.00 higher. Lighter weight feeders saw good demand this week, while heavier weight feeders sold on moderate demand. Year-to-date Auction receipts on this report are around 350K more than a year ago as some auctions are already on two-week schedules prior to the Memorial Day holiday. The total receipts this week are around 32K larger than last week, with most of that coming from video and internet sales.

On Thursday, NASS reported their monthly slaughter and meat production numbers for April. Cattle slaughter totaled 2.85M head; up 27% from a year ago and beef production was pegged at 2.35 Billion pounds; up 29% year over year. Year-to-Date cattle slaughter is around 4.3% larger than the previous year and 4.1% over the previous 3-year average. Year-to-date through April steer carcass weights are at a record high of 907 lbs; 9 lbs more than last year which runs that race in second place.

On Friday, the Cattle On Feed number quoted for May 1, 2021 at 105% of a year ago; Placements at 127 percent and Marketings at 133%. This is the second highest May 1 inventory since the series began in 1996 and the second month in a row where the On Feed number was pegged at 105% of a year ago.

Crop Progress published corn planted at 80% which is 12% above the 5-year avg and soybeans planted 24 points above the 5 year avg at 61%. July corn futures were 0.1575 higher for the week closing on Friday at 6.5950 and September corn were 0.1025 higher with Fridays close at 5.7325.

July soybean futures were 0.6000 lower for the week with Fridays close at 15.2625 and August soybean were 0.5525 lower with Fridays close at 15.2625.

August Feeder Cattle contract was 2.55 higher for the week to close at 153.70, while the June Live Cattle was 2.375 higher at 117.675.

Negotiated live trading in the Southern Plains sold at 119.00 to 120.00, while dressed sales in Nebraska sold at 191.00. Choice boxed beef values closed this week 8.23 higher at 325.17, while Select was 9.12 higher at 302.31. The Choice-Select spread narrowed by 0.89 bringing it to 22.86 for the week. Producers continue to struggle with seeing boxed beef prices at very high levels, while they are facing feed costs that continue to rise.

Cattle Slaughter under federal inspection estimated at 669K for the week, 29K less than last week, and 97K more than a year ago. Auction volume this week included 55% weighing over 600 lbs and 43% heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

May 28

RECEIPTS

This Week Last Week Last Year

700 986 610

Compared to last week: Not enough FOB cattle traded this week for a trend. Demand good. Supply included: 100% Feeder Cattle (42.9% Steers, 57.1% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 0% shrink or equivalent, with a 0 cent slide > 600 lbs. Livestock reported this week originated from ID, UT.

Steers — Medium and Large 1

300 Head: 950 lbs, 129.00 Current DEL

Heifers — Medium and Large 1

80 Head: 750 lbs, 124.63 Current FOB

320 Head: 900 lbs, 118.00 Current DEL

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