(Federal-State Market News)

St. Joseph, Mo.

April 5

RECEIPTS:      Auctions      Direct    Video/Internet       Total
   This Week    233,200      92,000             2,000     327,200
   Last Week    258,700      68,700            67,700     329,400
   Year Ago     131,900      31,500            33,300     196,700

  Compared to last week, steers and heifers sold steady to 3.00 higher. There was good to 
very good demand for those steers and heifers under 700 lbs that are suitable for 
grazing.  As the calendar turns to April, grass is expected to pop very soon if warmer 
temperatures can move into the Plains and the upper Midwest.  Flint Hills calves haven't 
been turned out yet, but ranchers are chomping at the bit to get to grass time.  Slow 
grass growth at this time is due to the colder than normal and waterlogged soil 
conditions throughout the midsection of the country.  Buyers very critical of excessive 
flesh, especially on heifers as the market activity slowed substantially if they were 
over conditioned.  After last week’s downward trend in the futures contracts, early week 
sales had cattle buyers more cautious when procuring heavier cattle.  Another reversal 
this week saw slight to moderate gains in the CME Cattle Complex.  Five of the front six 
months of Live Cattle contracts were 1.30 to 1.70 higher on the week with only the front 
month April being 0.35 higher.  Feeder Cattle contracts were 0.47 to 1.45 higher on the 
week.  This week, negotiated cash fed cattle trading in the Southern Plains were 2.00 
lower at 124.00 on Wednesday, while the Northern Plains live trading on Friday was steady 
with the previous week at 126.00.  Dressed sales in Nebraska were steady with last week 
at 206.00.  Fed cattle slaughter weights continue to be lower than a year ago.  Steer 
dressed weights are 12 lbs below a year ago and heifers are 11 lbs below a year 
ago.  Carcass weights are bound to see some more decline as calf-feds are on the 
horizon.  Packers are managing their inventory rather well for this time of year as end 
product tonnage is below a year ago.  For the week, the Choice cutout closed 0.89 higher 
at 226.93, while Select was 1.39 higher at 220.28.  Cattle Slaughter under federal 
inspection estimated at 621K for the week, 7K more than last week and 6K more than a year 
ago.  Auction volume this week included 52 percent weighing over 600 lbs and 44 percent 

Auctions Receipts:  233,200    Last Week 258,700    Last Year 131,900
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
April 5
Receipts: 7,526     Last Week:  512    Year Ago:  748

   Compared to last week:  Feeder steers and heifers had limited comparable weight 
ranges to compare to.  Livestock movement picking up while the sun is out and 
greening up pastures. Feedlots supply included 97 percent over 600 lbs and 49 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
  130      725       725       143.29         143.29   Current FOB   
   21      800       800       142.00         142.00   Current Del   
  125      870       870       137.50         137.50   Current Del   
   90      575       575       173.00         173.00   Apr-May Del   
 3500      875       875       150.55         150.55   Jun-Sep Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  160      550       550       163.00         163.00   Apr-May Del   
 3500      825       825       143.55         143.55   Jun-Sep Del 

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