(Federal-State Market News)

St. Joseph, Mo.

June 28

RECEIPTS:      Auctions      Direct    Video/Internet       Total
This Week      156,200       35,700            46,100       238,000
Last Week      155,900       41,600            15,000       212,500
Year Ago       182,800       47,400            66,800       297,000

   Compared to last week, steers and heifers sold uneven; 3.00 lower to 3.00 
higher.  There were instances of auctions in the North Central area calling their 
markets up to 8.00 to 10.00 higher on some in demand weight groups.  Many loads of 
yearlings were in the supply this week as several barns held pre-Fourth of July 
special sales.  Joplin Regional Stockyards sold in excess of seventeen thousand head 
over two auctions with another video sale scheduled for next week.  Most cattle this 
week on hand at auctions were very high quality and found good demand.  Cattle 
feeders had the opportunity to make like-kind purchases this week and they were 
willing to step in this week and own them, especially after the CME Cattle Complex 
moved sharply higher on Wednesday.  The front 5 months of Feeder Cattle contracts 
were limit higher at one point during that trading session.   Support waned somewhat 
on Thursday, however FC futures were just incrementally lower on the day.  The 
expiring front month June Live Cattle contract ended its contract life at 
110.50.  After the close, packers started buying cattle in the Southern Plains at 
109.00.  Pastures and crop land nationwide are 180-degree difference from last year 
when near 50 percent of the country was in drought status.  This week, sunshine and 
warmer temperatures allowed for a lot of seat time on the tractor as ranchers finally 
have the weather to get forage baled.  The Grain Stocks and Acreage reports were 
released today with corn acreage estimated at 91.7 million acres and soybean acres at 
80.04 million acres as of June 1.  In addition, during July the USDA’s NASS will 
collect updated information on 2019 acres planted to corn, cotton, sorghum and 
soybeans in 14 states.  NASS previously collected planted acreage information during 
the first two weeks of June, with the results published in the June 28 Acreage 
report. Excessive rainfall had prevented planting at the time of the survey, leaving 
a portion of acres still to be planted for corn in Illinois, Indiana, Iowa, Kansas, 
Michigan, Minnesota, Missouri, Nebraska, New York, North Dakota, Ohio, South Dakota, 
and Wisconsin; cotton in Arkansas; sorghum in Kansas; and soybeans in Arkansas, 
Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, New York, 
North Dakota, Ohio, South Dakota, and Wisconsin. If the newly collected data justify 
any changes, NASS will publish updated acreage estimates in the Crop Production 
report to be released at noon ET on Monday, Aug. 12.   For the week, the Choice 
cutout closed 0.16 lower at 219.66, while Select was 3.99 lower at 
195.56.  Cattle Slaughter under federal inspection estimated at 665K for the 
week, 3K more than last week and 16K more than a year ago.   Auction volume this 
week included 53 percent weighing over 600 lbs and 42 percent heifers. 
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
June 28
Receipts:  419      Last Week:  1,889    Year Ago:  0

   Compared to last week:  No good comparison of steers or heifers
for an accurate market trend.  Cattle futures finally rebounded this week 
and still waiting to see if cash slaughter cattle will do the same.
Demand for feeder cattle moderate as buyers taking a wait and see 
attitude.  Supply consisted of 88 percent over 600 lbs. and 43 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
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
   50      650       650       149.00         149.00   Current Del   
   64      732       732       137.45         137.45   Current Del   
   65      750       750       141.00         141.00   Current Del   
   60      900       900       127.00         127.00   Current Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
   50      600       600       140.00         140.00   Current Del   
   65      690       690       146.00         146.00   Current Del   
   65      800       800       120.00         120.00   Current Del   

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