(Federal-State Market News)

St. Joseph, Mo.

Feb. 15

RECEIPTS:       Auctions     Direct    Video/Internet     Total
Last Week       223,800      78,200             3,600     305,600  
This Week       259,700      56,100            22,300     338,100  
Last Year       238,000      62,900             2,200     303,100

*** NOTICE TO TRADE:  Livestock, Poultry, and Grain Market News (LPGMN) is 
considering transitioning the publication date of this report from Friday to Monday 
and is seeking feedback from stakeholders.  Currently, LPGMN utilizes sales data from 
Friday through Thursday to compile this report.  By changing the publication to 
Monday, LPGMN is able to capture additional sales that occur on Friday afternoons and 
Saturdays, utilizing sales data from Sunday to Saturday, and provide a true weekly 
average price for the week.  If you have any feedback on this proposal, please email by February 22, 2019. ***

   Compared to last week, steers and heifers sold 2.00 lower to 2.00 higher in the 
North and South Central areas while the Southeast steers and heifers were 2.00 to 
5.00 higher.  Grazing calves in all areas were in demand this week as procurement was 
essential to ranchers this week.  Ranchers are gearing up for grazing season as many 
areas have ample moisture for this time of year.  When looking at the drought monitor 
this week, most of the severely drought stricken areas from last year have all but 
vanished in the breadbasket of the country.  Areas in TX, NM, and CO are still 
showing drought effects.  Order buyers were out in full force this week as fewer 
receipts were at sales across the country and feedyards were willing to take on 
replacement cattle in spite of muddy pens in the major feeding regions.  Winter Storm 
Nadia is tracking eastward late this week after dumping feet of snow to the West.  It 
seems like Mother Nature wants winter to hang on as long as possible and cow-calf 
producers are sure wanting Punxsutawney Phil is correct and spring will be here very 
shortly.  Fed cattle prices were  higher last week after six weeks of ho-hum steady 
markets.  Feedyards just couldn't get over the proverbial hump to get to 125.00 until 
last week.  This weeks trading has not yet been established as of this 
writing.  Packers are very aware that cattle weights are not as large as they were 
last year this time, thus bringing less volume of meat to the market on similar head 
counts.   This week's Valentine's Day holiday is one of the top 3 holidays for public 
eating out in restaurants with many of those customers choosing beef or a surf and 
turf for their entrees.  Moving out of February and into March, a beef rally is 
expected to happen and with that should come increased fed cattle  prices if the 
trickle down effect comes to fruition.  When we get to warmer weather in the second 
quarter, middle meats will be front and center on retail ads with Mother's Day and 
Father's Day followed closely by Independence Day buying.  For the week, the Choice 
cutout closed 1.50 higher at 216.85, while Select was 0.18 lower at 210.99.  Cattle 
Slaughter under federal inspection estimated at 596K for the week, 24K less than last 
week and 6K less than a year ago.  Auction volume this week included 58 percent 
weighing over 600 lbs and 43 percent heifers.

Auctions Receipts:  223,800    Last Week 259,700    Last Year 238,000
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
Feb. 15
Receipts:  3,700     Last Week:  1,025    Year Ago:  390

   Compared to last week:  Feeder steers and heifers mostly steady to 3.00 lower.
Direct trade starting to really pick up last two weeks. Producers wanting to get 
cattle out before more winter weather comes and feedlots somewhat optimistic about 
future negotiated cash prices with the big inventories that packers have harvested.  
Feedlots supply included 100 percent over 600 lbs and 22 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
  155      675       675    148.00-150.00     149.03   Current Del   
  200    700-725     712    148.00-149.00     148.49   Current Del   
   75      740       740       146.00         146.00   Current Del  Split Loads
  135      800       800       142.00         142.00   Current Del   
  455    850-875     859    137.50-139.50     138.78   Current Del   
   60      900       900       138.00         138.00   Current Del   
 1900      775       775       149.00         149.00   Mar-Apr Del   
                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
   90      650       650       145.00         145.00   Current Del   
   65      700       700       141.00         141.00   Current Del   
   50      720       720       140.00         140.00   Current Del  Split Loads
   90      775       775       140.00         140.00   Current Del   
  425    825-840     834    131.50-134.00     132.98   Current Del  

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