NATIONAL FEEDER

AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

Feb. 8

RECEIPTS:

This Week Last Week Last Year

270,200 292,400 219,400

Compared to last week, steers and heifers sold uneven; North Central and South Central auctions 2.00 lower to 2.00 higher while the Southeast auctions were 1.00 to 4.00 higher. Demand for grazing calves was good as backgrounders are looking to get their orders filled early. These ranchers want to get those flyweight calves into their pens early so the health regimen can be gone through and those calves will be ready when turnout time gets here this spring.

An Arctic blast is expected to last a week or more in the Plains states and they are somewhat used to those bitter conditions in the Northern Plains and the upper Midwest. Feed conversion of any calf in the feedyard this coming week will be drastically changed from where it has been up to this point in the winter. The feed bunks will get their daily fills like normal from the feed trucks, however, with bitter cold comes the time when cattle are just trying to survive. They are burning Mega-calories just for maintenance, not for growing and gaining weight.

This week, sales of fed cattle in the Southern Plains were 1.00 higher and sold at 114.00 while dressed sales in Nebraska were steady to 2.00 higher and sold at 178.00 to 180.00. Nearby corn and soybean contracts were mostly steady on the week, however, the CME Cattle Complex was higher on the week as the possibility of physical deliveries is on the forefront of market watchers with the Feb LC contract at 2.725 above the cash price in the feedlots.

Even with the rise in cash cattle price this week, packer margins have not suffered much as boxed beef values were relatively flat this calendar week.

Choice cutout closed 0.63 higher at 234.58, while Select was 1.91 lower at 220.79.

The Choice-Select spread has widened from the previous week and is now at 13.79.

Cattle Slaughter under federal inspection estimated at 653K for the week, the same as last week and 22K more than a year ago. Auction volume this week included 58 percent weighing over 600 lbs and 42 percent heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

Feb. 5

RECEIPTS:

This Week Last Week Last Year

1679 3683 120

Compared to last week: : Feeder steers and heifers not established for Current FOB trade, however a steady firm undertone is noted. Demand was moderate to good. Supply included: 100% Feeder Cattle (61% Steers, 39% Heifers). Feeder cattle supply over 600 lbs was 100%. 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. Livestock reported this week originated from ID, OR, UT.

Steers — Medium and Large 1

75 Head: 750 lbs, 132.33 Current FOB

45 Head: 675 lbs, 149.00 Current DEL

205 Head: 700 lbs, 148.63 Current DEL

80 Head: 765 lbs, 139.50 Current DEL

230 Head: 809 lbs, 139.65 Current DEL

69 Head: 880 lbs, 132.00 Current DEL

190 Head: 900 lbs, 131.00 Current DEL

130 Head: 810 lbs, 138.00 Mar DEL

Heifers — Medium and Large 1

112 Head: 721 lbs, 134.00 Current DEL

58 Head: 750 lbs, 132.00 Current DEL

50 Head: 825 lbs, 130.00 Current DEL

285 Head: 850 lbs, 128.42 Current DEL

150 Head: 730 lbs, 136.00 Mar DEL