AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
352,400 300,200 254,200
Compared to last week, steers and heifers sold 1.00 to 4.00 lower.
Receipts were larger for the second week in a row as auction markets are getting back to normal after the severe winter weather that impacted much of the nation a couple weeks ago. Demand was moderate to good at auctions this week, just at lower price levels as more cattle were on offer.
As the first of March rolls around, it comes time for ranchers to remove cattle from grazing the wheat fields they had become accustomed to through the winter led to large receipts in the wheat growing areas of Oklahoma and Kansas. Cattle grazing on short wheat this year as moisture was not as prevalent this year, however the wheat was not near as “washy” this year.
Ranchers have been very happy to see gains of around 3 lbs per day and are happy to sell the extra pounds. The recent winter weather hardened these calves up and more attractive to feeder cattle buyers.
The calendar flipping to March also brings calving season to much of the nation. Some producers start calving in February to take advantage of bigger calves at weaning time and they are selling pounds at the auction markets.
The front two months of the CME Cattle futures were lower this week, while most of the deferred contracts showed slight to moderate gains.
April and June Live Cattle contracts were 0.975 and 0.425 lower, while the October to February contracts were 0.825 to 1.325 higher on the week. March and April Feeder Cattle contracts were 4.075 and 3.550 lower, respectively. The August to November contracts were 1.775 to 2.425 higher on the week. This week’s fed cattle market was at 114.00 live in the South Plains and dressed sales in Nebraska being traded at 180.00. Boxed beef values have weakened recently with the Choice cutout closing the week 9.20 lower at 231.33, while Select was 8.88 lower at 220.85. The Choice-Select spread has narrowed a little from the previous week and was published at 10.48.
Cattle Slaughter under federal inspection estimated at 665K for the week, 1K less than last week, and 16K more than a year ago.
Current situation indicators improved this last January as the Restaurant Performance Index (RPI) registered a moderate gain and was reported at 99.1 up 0.5 from the previous month.Auction volume this week included 61 percent weighing over 600 lbs and 42 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
4793 894 0
Compared to last week’s light test: Feeder steers and heifers sold mostly steady with last week’s light test. Demand is moderate to good despite cattle futures trading in the red for many days this week. Supply included: 100% Feeder Cattle (63.9% Steers, 36.1% 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, UT.
Steers — Medium and Large 1
435 Head: 804 lbs, 135.68 Current DEL
120 Head: 850 lbs, 134.00 Current DEL
21 Head: 925 lbs, 130.00 Current DEL
2320 Head: 850 lbs, 127.22 Apr FOB
168 Head: 775 lbs, 144.32 Apr DEL
Heifers — Medium and Large 1
570 Head: 758 lbs, 130.00 Current DEL
127 Head: 850 lbs, 126.11 Current DEL
930 Head: 800 lbs, 122.22 Apr FOB
37 Head: 750 lbs, 132.00 Apr DEL
65 Head: 825 lbs, 132.00 Apr DEL