AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
200,700 312,200 325,600
Compared to last week, steers and heifer calves sold uneven, 3.00 lower to 2.00 higher. Limited amounts of yearlings sold steady to 3.00 higher. Receipts were light in the calf and yearling producing area of the Southern Plains this week as a winter storm rolled through, making transportation of livestock treacherous.
The Southern Plains had areas of flooding, freezing rain and snow; sometimes all of them in a short amount of time. Oklahoma City National Stockyards sold only 3100 head while Joplin Regional Stockyard sold 2700 head and Winter Livestock in Pratt, Kan., canceled their regular Thursday sale.
These auctions and others were the cause for the total auction receipts this week to be around 88K short of a year ago.
Direct trading was very limited this week as the total direct receipts are the lightest non-holiday week since March 20 this year.
Those wheat grazing areas were glad to get the precipitation but did not want it in the frozen form. The Northern Plains are used to those types of conditions and South Dakota moved near 37K feeder cattle this week after selling near 43K last week, while the state of Nebraska moved more this week (26K) than last (24K).
The situation in the North Plains made it better for yearlings heading to the feedyards. Cattle feeders are taking another look at best case risk management practices on the sets of cattle heading into the yards now.
The CME Cattle Complex shook off the bearishness of last week’s Cattle on Feed report. Expiring October Live Cattle contract was 2.63 higher on the week, while all the deferred contracts were 3.78 to 4.72 higher. The October Feeder Cattle contract was 2.92 at expiration on Thursday, while the most next 4 months of deferred contracts were 7.18 to 8.58 higher. Cash feeder cattle did not follow that trend.
Grain markets took a tumble this week December corn was around 20 cents lower on the week after a large down day on Wednesday this week.
Financial markets took a tumble with the Dow Jones being 1700 points lower on the week as of this writing.
Negotiated cash fed cattle trading has been limited this week so far with a few live sales steady with last week at 106.00. Not enough dressed sales in Nebraska to establish a market yet this week. Last week’s dressed sales were reported at 162.00-166.00.
Boxed beef values did find some footing this week after struggling for the last three weeks. This afternoon’s Choice boxed beef was reported at 208.10, 0.61 higher than last Friday’s close. Select cutout was reported at 191.24, 0.16 lower than last Friday’s close.
Estimated cattle slaughter under federal inspection this week was reported at a 638K, 5K less than last week, and 21K less than last year. Auction volume this week included 36 percent weighing over 600 lbs and 38 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
467 40 964
Compared to last week: No recent test for a comparison of trends. Demand moderate as numbers of feeder cattle remain light. Supply included: 100% Feeder Cattle (46% Steers, 54% Heifers). Feeder cattle supply over 600 lbs was 100%. 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. Livestock reported this week originated from ID, OR, UT.
Steers — Medium and Large 1
65 Head: 825 lbs, 128.00 Current DEL
120 Head: 850 lbs, 122.00 Current DEL
30 Head: 900 lbs, 124.00 Current DEL
Heifers — Medium and Large 1
140 Head: 740 lbs, 127.00 Current DEL
90 Head: 816 lbs, 119.00-122.00 Current DEL
22 Head: 925 lbs, 119.00 Current DEL