(Federal-State Market News)

St. Joseph, Mo.

June 14

RECEIPTS:      Auctions      Direct    Video/Internet       Total
This Week      134,900       52,900            49,400       237,200
Last Week      164,000       30,300            12,100       206,400  
Year Ago       179,900       56,400            80,200       316,500

   Compared to last week, steers and heifers sold steady to 5.00 higher.  Demand 
was reported at moderate to good across the North and South Plains this week as 
buyers were willing to put cattle back in pens even with the uptick in corn 
prices recently.  Planters made progress across the Plains this past week as 
NASS reported 83 percent of the corn has been planted as of June 9 2019, up 16 
percent from the previous week.  The 83 percent is conversely 16 percent behind 
the previous 5-year average.  Moving along those same lines, the Supply and 
Demand report came out on Tuesday with the Chief Economist reporting a 10 bushel 
per acre corn reduction nationwide as well as informing the nation of a decrease 
of 3 million acres of corn that will not be planted this year; the largest such 
decrease on a June report since the data series started.  Ranchers have been 
busy making hay in the Plains late last week into early this week.  They have 
been trying to dodge rain showers and cool weather that is detrimental to 
getting forage to cure in the windrow.  Year to date preliminary heifer 
slaughter rate through May is about 50K short of 4 million head; the last time 
that January to May heifer slaughter has eclipsed the 4 million mark was 2011.  
The heifer slaughter rate is 8.7 percent over a year ago.  Dairy cow slaughter 
is 5.6 percent higher and beef cow slaughter is 2.6 percent larger as well year 
over year.  Some analysts are watching the number of “factories” finding their 
way to the marketplace.  Dressed steer slaughter weights have decreased to 842 
pounds for w/e 5/25 and 6/1, the lowest in two years.  Choice boxed-beef remains 
above 220.00 which is pretty solid footing and impressive.  Father’s Day is this 
weekend and with many beef features being promoted hopefully we will have good 
grilling weather and good retail clearance.  Good weekend clearance for Father’s 
Day would certainly help next week’s fill in the retail business. For the week, 
the Choice cutout closed 0.08 lower at 222.23, while Select was 4.16 lower at 
202.76.  Cattle Slaughter under federal inspection estimated at 665K for the 
week, 3K more than last week and 17K more than a year ago.  Auction volume this 
week included 55 percent weighing over 600 lbs and 42 percent heifers. 
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
June 14
Receipts:  1,940      Last Week:  125    Year Ago:  80

   Compared to last week:  No recent test for a comparison of feeder
steers or heifers.  Demand moderate to good despite cattle futures 
trending lower.  Corn prices moving higher as speculators believe 
feed corn will be limited due to the lasting wet conditions and 
flooded out fields in much of corn country.  The results of this is
drastically delayed corn planting.  Supply consisted of 100 percent
over 600 lbs. and 38 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
  625      875       875       130.00         130.00   Current FOB   
  450      750       750       146.00         146.00   Current Del   
  120      875       875       124.00         124.00   Current Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  625      800       800       126.00         126.00   Current FOB   
  120      850       850       116.00         116.00   Current Del  

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