AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
185,000 304,200 249,100
Compared to last week, steers and heifers are trading mostly steady to 4.00 higher. This week’s prices were pretty much in most cases a repeat of last week’s market trend; with some of the biggest advances on the heavy yearlings over 800 lbs.
High volume sales at OK City and El Reno did see some uneven to lower prices but on mostly plain to average feeders. Sale barns throughout the Northern Plains continue on their summertime schedules with larger sales every other week. Plenty of buyers remain who want to place these long strings of yearlings coming off summer grass or out of backgrounding yards on feed continue to be met with good to very good demand. These long-time hard native yearlings are always in demand this time of year.
At Huss Livestock Market in Kearny, NE, on Wednesday sold a little over 700 head of 900-925 lb steers averaging 913 lbs sold for a weighted average price of 138.05.
Sioux Fall Regional Cattle Auction on Monday sold near 450 head of steers averaging 985 lbs sold for a weighted average price of 130.76 and on Thursday at Mitchell Livestock Auction in Mitchell, SD sold 810 steers weighing between 800-850 lbs averaging 829 lbs sold with a weighted average price of 145.59.
Superior Video Auction held their Video Royale this week with many value added program yearlings selling with premiums with 124 head of 825 lb value added program yearling steers for September delivery sold at 173.00.
Winter Livestock in Dodge City, KS will offer near 12,000 head for their Friday and Saturday special, sure to be well attended with buyers.
Corn crop conditions improved this week to 72 percent good to excellent this compared to 69 percent last week and 58 percent last year. With improving corn conditions at this time of year yields will no doubt improve as improved yields will keep the corn market under pressure regardless of demand. Big crops usually get bigger and yields will be no exception. This makes it hard to convince anyone, especially farmer-feeders, that we will have any corn production problems and the size of the corn crop will overshadow demand has many producers willing to walk a lot of corn to town.
Boxed-beef cut-out prices on Friday’s opening are higher with Choice at 203.38 up 1.58 on track to be about 2.00 higher for the week and continue to find support around the 200.00 level for Choice product which is between 11.00-12.00 lower than year ago prices. Hopefully price levels should be attractive for retail interest and consumers with some of the lowest beef prices seen for the month of July.
There’s plenty of cheap pork and chicken available and with consumers eating most of their meals at home beef will have stiff competition at the meat counter.
A weak U.S. dollar is helping the export market for beef items with the dollar index at its lowest level in two years since May-June of 2018 trading around the 93.25 mark on Wednesday.
Weekly total shipments of beef exports were at 18.3 MT, 19 percent higher than the average over the last 4 weeks. Net sales for the week were 29,500 MT, 81 percent higher than the average for the last 4 weeks.
Feedlot trade this week in the Southern Plains trade was mostly at 97.00, 1.00 higher than last week, with Nebraska trading at 100.00 live and dressed sales at 160.00 mostly 2.00 higher and live sales in the Western Cornbelt at 100.00-102.00. Supply included 74 pct over 600 lbs and 36 pct heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
438 1,796 4,130
Compared to July 24: Not enough Feeder steers and heifers this week for a market trend. Demand moderate to good. Supply consisted of 100 percent over 600 lbs and 35 percent heifers. Unless otherwise stated prices are FOB weighing 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
45 Head: 825 lbs 132.00 Current Del Split Load
120 Head: 950 lbs 124.00 Current Del
57 Head: 800 lbs 139.50 Oct Del
65 Head: 875 lbs 133.00 Oct Del
Feeder Heifers Medium and Large 1
25 Head: 800 lbs 125.00 Current Del Split Load
126 Head: 912 lbs 118.00 Current Del