(Federal-State Market News)

St. Joseph, Mo.

March 1

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week       219,100      60,400             2,700     282,200  
Last Week       208,200      57,700            48,600     314,500  
Last Year       227,800      44,200               300     272,300

   Compared to last week, steers and heifers were uneven; 2.00 lower to 1.00 higher 
in the North and South Central regions while the Southeast 3.00 to 7.00 higher. 
Grazing calves in the Southeast were in demand again this week as ranchers are 
wanting to get cattle procured so they can be ready to turn out when the first sprig 
of green grass appears.  Fields in Nebraska some of Kansas and Missouri are covered 
with snow and more is expected this weekend as another winter storm makes its' way 
from the West Coast to East Coast.  Many areas will be under warnings, watches and 
advisories.  Futures late week not conducive to continuing the gains from Monday 
through Wednesday this week.  Through Wednesday, the FC contracts were basically plus 
1.00 to 2.00 on the week.  However, after Thursday's and Friday's sessions, the front 
3 months of Feeder Cattle closed 0.25 to 1.68 lower on the week.  Weekly incremental 
gains on the summer/fall contracts were limited.  Negotiated fed cattle trading in NE 
this week started at 205.00 dressed around mid-day on Friday.  Live markets settled 
on 128.00 this week after minimal live trade last week.  Packers will continue to put 
pressure to limit upside movement in prices after last week's very limited 126.00 
trading in the South, even though boxed beef cut out values have been showing strong 
support to the cattle feeder.  Closeouts in feedyards are not what cattle feeders 
were desiring this time of year, however Mother Nature just keeps on hanging on to 
winter and cost of gains are now in the triple digits.  Until the feedyard pens 
freeze up or dry up, cattle expend too much energy just getting to and from the bunks 
to meet their projected weights.   For the week, the Choice cutout closed 1.90 higher 
at 221.29, while Select was 4.44 higher at 216.79.  The January 1 Cattle Inventory 
Report was released Thursday afternoon with some highlights including all cattle and 
calves totaled 94.4 million head, slightly above the 97.7 million head from previous 
year.  All cows and heifers that have calves totaled 41.1 million head, up 1 percent 
from previous year’s total of 40.6 million head.  Cattle and calves on feed for 
slaughter in the U.S. for all feedlots totaled 14.4 million head up 1.6 percent from 
previous year’s total.  The 2018 calf crop was up 2 percent from previous year at 
36.4 million head.   Cattle Slaughter under federal inspection estimated at 603K for 
the week, 26K more than last week and 8K less than a year ago.  Auction volume this 
week included 60 percent weighing over 600 lbs and 44 percent heifers.
Auctions Receipts:  219,100    Last Week 208,200    Last Year 227,800
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
March 1
Receipts: 2,180      Last Week:  1,938    Year Ago:  700
   Compared to last week:  Feeder steers mostly 3.00 higher on a limited test. Feeder 
heifers not established.  Feedlots supply included 100 percent over 600 lbs and 45 
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
   70      675       675       150.00         150.00   Current Del  Split Loads
   75      775       775       145.00         145.00   Current Del   
  405    800-825     816    140.50-143.00     142.12   Current Del   
  180      825       825       139.00         139.00   Current Del  Split Loads
  330    850-860     855    137.50-139.50     138.74   Current Del   
  130      825       825       140.00         140.00   Mar-Apr Del  Split Loads

Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  500      835       835       130.35         130.35   Current FOB   
   70      650       650       145.00         145.00   Current Del  Split Loads
   75      750       750       136.00         136.00   Current Del   
  150      825       825       132.00         132.00   Current Del   
   65      800       800       132.00         132.00   Current Del  Split Loads
  130      775       775       135.00         135.00   Mar-Apr Del  Split Loads

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