AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week: 257,800
Last Week: 280,800
Year Ago: 176,600
Compared to last week, steers and heifers sold steady to 4.00 higher. Demand was moderate to good this week with the larger auctions in the Southern Plains having many offerings weighing over 800 lbs coming off rye or wheat. Those calves and lighter yearlings that are suitable for grass were met with good to very good demand.
Seller interest has improved as feeder prices slowly start to rise and more buyers are coming out to the auction.
Auction receipts were heavy again in the wheat and rye grazing areas in the Southern Plains with the two OKC area auctions had over 24,000 on hand while Winter Livestock in Pratt, KS had over 6,000 on offer.
Current CME Feeder Cattle Index prices have been on the rise this week for feeder cattle with index volume varying greatly. The CME Live Cattle futures were incrementally lower on the week, while the front month May Feeder Cattle Futures was higher on the week, the deferred contracts were more than 2.00 lower.
This morning’s Choice boxed beef value was 33.45 lower than last Friday’s close, while Select cuts were 43.00 lower.
Estimated Cattle Slaughter under Federal Inspection continues to increase from a record non-holiday week low (439K) just a few weeks ago. Estimated slaughter under federal inspection this week was reported at a 555K, 56K more than last week, and 92K less than last year.
Weekly Hog slaughter was estimated at 2130K this week; 32K more than last week, and 180K less than a year ago.
Year-to-date Cattle Slaughter is 6.9 percent (around 900K head) less than the previous year and hog slaughter is 1.1 percent less (around 550K head).
National negotiated purchases the last couple weeks has been around 80,000 head; considerably larger confirmed head counts of less than 30K for three weeks in April 2020.
Corn planting progress was reported at 80 percent complete, 14 percent more than a week ago and 9 percent ahead of the five-year average.
Total red meat supplies in freezers were down 1 percent from the previous month but up 5 percent from last year. Total pounds of beef in freezers were down 2 percent from the previous month but up 14 percent from last year.
Cattle on Feed Report released today had On Feed at 95 percent; placements at 78 percent and Marketings at 76 percent. Placements were the second lowest for April since the series began in 1996. April Marketings are the lowest since the series began in 1996.
Auction volume this week included 58 percent weighing over 600 lbs and 41 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
Receipts: 720 Last Week: 2,651 Year Ago: 525
Compared to last week: Feeder steers and heifers lightly tested and few sales steady. Demand mostly moderate. Supply consisted of 100 percent over 600 lbs. and 56 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 Medium and Large 1
140 Head: 861 lbs, 118.85 Current Del
90 Head: 900 lbs, 111.00 Current Del
Feeder Steers Medium and Large 1-2
90 Head: 815 lbs, 118.00 Current Del
Feeder Heifers Medium and Large 1
180 Head: 775 lbs, 113.00 Current Del
220 Head: 850 lbs, 111.00 Current Del