AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
284,200 259,500 236,300
Compared to last week, feeder steers and heifers under 700 lbs sold very uneven form steady to 5.00 higher to 5.00 lower, with yearlings over 700 lbs trading mostly steady to 5.00 lower.
Still good to very good demand for all weights of steers and heifers, best demand is on light fleshed and light weight cattle going to grass. It’s been a while since lower prices have been quoted over the majority of the regions but in most cases it’s hard to tell where the prices are lower.
Wednesday in Torrington, Wyo., over 4700 head sold with near 450 head of 600-650 lb steers averaging 622 lbs sold with a weighted average price of 245.03, 350 head of 700-750 lb steers averaging 715 lbs sold for a weighted average price of 215.62 just to name a few on a long impressive price list.
Blue Grass Stockyards in Albany, Ky., on Wednesday sold 83 head of 683 lb steers at 216.75. On Thursday at the Blue Grass Stockyards in Stanford, Ky., sold 64 head of 819 lb steers dropped the gavel at 189.30.
Back up north at Herried Livestock Auction in Herried, SD on Friday sold near 500 head of 850-900 lb steers averaging 867 lbs for a weighted average price of 185.66 and that was with blowing snow and icy roads.
There was a lot of attention this past week on the financial sector following the collapse of the Silicon Valley and Signature banks. Volatility in outside markets spilled over into the cattle complex and other commodity markets.
Wednesday cattle futures declined triggering trade in the fed cattle market mostly at 164.00 with a few sales at 163.00 mostly a 1.00 lower with dressed sales at mostly 264.00 also a 1.00 lower.
Trade occurred by hedged feeders that captured a positive basis of cash over futures. Despite economic woes packers and processors will not be able to ignore the fact of smaller supplies of cattle and cattle feeders will press for higher prices. There is little evidence of heifer retention and rebuilding the U.S. cattle herd remains in the future at this time.
Cattle on Feed Report was released Friday and falling within expectations with On feed at 96 percent, Replacements falling to 93 percent and Marketings at 95 percent.
Choice boxed-beef on Friday closed at 283.35 down 60 cents with Select closing at 272.44 up 68 cents compared to previous week’s close with Choice at 284.91 and Select at 271.54.
Weekly cattle slaughter under federal inspection estimated at 631K for the week, 3K less than last week and 5K more than last year. Auction volume this week included 54 percent weighing over 600 lbs and 45 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
2,791 3,495 745
Limited comparable current FOB traded for a market trend. Demand moderate to good. Supply included: 100% Feeder Cattle (71.7% Steers, 28.3% Heifers). Feeder cattle supply over 600 lbs was 64%. 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. and 0 cent slide <600 lbs. Livestock reported this week originated from CA, ID, OR, UT.
Steers — Medium and Large 1
75 Head: 800 lbs, 185.00 Current FOB
200 Head: 950 lbs, 165.00 Current FOB
70 Head: 70 lbs, 183.71 Current DEL
180 Head: 885 lbs, 175.00 Current DEL
500 Head: 500 lbs, 192.00 Mar-Apr DEL
975 Head: 750 lbs, 176.50 Apr DEL
Heifers — Medium and Large 1
81 Head: 800 lbs, 174.78 Current FOB
230 Head: 819 lbs, 171.57 Current DEL
480 Head: 500 lbs, 182.00 Mar DEL
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