(Federal-State Market News)

St. Joseph, Mo.

March 22

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week       256,100      90,300            28,800     375,200  
Last Week       206,300      48,000             2,800     257,100  
Last Year       194,100      77,400            25,000     296,500

   Compared to last week, steers and heifers sold 2.00 to 6.00 higher; getting back 
all of last week's losses.  It didn't matter what weight cattle were this week, they 
were in demand and auction barns were willing to fulfill those orders.  From the 
grazing kind to the 1000+ pounders, feedyards were ready to take on some inventory 
after the last couple weeks of horrid weather in the Central U.S.  Many auctions had 
reputation strings and large bunches on offer this week allowing buyers to make full 
pens of uniform cattle.  Most auctions that were held this week noted demand was good 
to very good.  On Wednesday at the St Joseph (MO) Stockyards, a group of 531 lb thin 
fleshed steers sold at 198.25, while a small package weighing 520 lbs sold at 199.00.  
On Monday at Keoco Auction Company in Sigourney (IA), a package of 602 lb steers sold 
at 178.50.  On Wednesday at South Central Regional Stockyards in Vienna (MO), a 
package of 605 lb thin fleshed steers sold at 177.50.  On Thursday at Lamoni (IA) 
Livestock Auction, a large half load of 653 lb steers sold at 173.75. On Monday at 
Callaway Livestock in Kingdom City (MO), a package of 716 lb fancy steers sold at 
169.00.  On Thursday at Ogallala (NE) Livestock Auction Market a short load of 756 lb 
steers sold at 158.00.  On Thursday at Mitchell (SD) Livestock Auction a half load of 
866 lbs steers sold at 149.25, while a load of 934 lb steers sold at 142.00.  Also, a 
load of 1004 lb steers at that location sold at 135.00.  Plenty of sunshine this week 
in a lot of places nationwide has taken the attention away from the devastation that 
many Iowans, Nebraskans and Missourians are living right now.  Anecdotes of cattle 
herds being affected are no doubt true, however analysts are trying to decipher to 
what extent it will make a difference in cow/calf numbers moving forward.  Flooding 
has not only affected the cattle producer but the grain farmers as well.  Grain bins 
that were still full of last year's harvest will be unsaleable; leaving a big hole in 
the balance sheet.  Lack of passable roads in Nebraska, Iowa and  South Dakota have 
left many "stranded on islands" but the farmer is a resilient one and will find a way 
to adapt and overcome.  Some ethanol plants are dealing with transportation issues as 
the rail lines are affected as well.  Total flooding losses are estimated at topping 
one billion in Nebraska and  1.5 billion in Iowa, and estimates always seem to be on 
the low side when you go into a situation such as this.  The Cattle-on-Feed for 
February 1 released today with On Feed reported at 101 percent of a year ago; 
Placements at 102 percent and Marketings at 101 percent.  Cold Storage Report for 
February was released today with total red meat supplies in freezers up 2 percent 
from previous month and up 2 percent from last year.  Total lbs of beef in freezers 
were down 6 percent at 479.3 million lbs from previous month and up 4 percent from 
last year.  Frozen pork supplies were up 9 percent at 616.0 million lbs from last 
month, and 1 percent higher than last year.  The CME Feeder Cattle contracts saw 
their largest weekly gain since September.  The deferred May through October 
contracts were 5.60 to 6.10 higher on the week and infused a much needed optimism 
into the cattle feeding sector.  Auction volume this week included 52 percent 
weighing over 600 lbs and 45 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
March 22
Receipts: 3,260     Last Week:  1,950    Year Ago:  640

   Compared to last week:  Feeder steers and heifers too lightly tested last week
for a accurate trend. Feedlots supply included 100 percent over 600 lbs and 51
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
  540      875       875       140.00         140.00   Current Del   
 1060    900-925     919    139.00-140.50     140.14   Current Del   

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  330      675       675       143.00         143.00   Current Del   
   60      750       750       135.00         135.00   Current Del   
  240      825       825    134.00-142.00     138.00   Current Del   
  130      850       850       132.00         132.00   Current Del   
  900      875       875       137.00         137.00   Apr     Del   

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