AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
267,500 287,700 306,700
Compared to last week, steers and heifers sold steady to 2.00 lower. Weakness in the CME Cattle Complex weighed heavily on the market this week ahead of Friday’s Cattle on Feed report.
Supply was moderate this week as yearlings become harder and harder to find as we get closer to fall on the calendar. The larger cow/calf states are now starting to see calves that are weaned as the trailer is going down the road to the auction, which is normal for this time of year. Demand was moderate to good with health records and amount of flesh playing a big part of how strong demand was for those new crop calves. Steep discounts for those unweaned calves happen as backgrounding yards’ sick pens get full.
Corn harvest is underway and as of Monday is 8 percent complete, while soybeans harvested is 6 percent complete. The weather this week has been conducive in many areas for progress to jump sharply in one week.
The drought monitor map continues to climb and now over 58 percent of the country is in drought D0 designation or greater; D3-D4 designation is now greater than the summer of 2018. This will deter fall pasture growth in many areas that rely on the stockpiling of winter forage to get them from the first frost to snow fall. Slaughter cows have increased at sales, especially in those drought designated areas.
Cold storage report for August was released on Tuesday this week. Total red meat supplies in freezers were up 3 percent from the previous month but down 13 percent from last year. Total pounds of beef in freezers were up 5 percent from the previous month but down 2 percent from last year.
Frozen pork supplies were up 2 percent from the previous month but down 23 percent from last year. Negotiated cash fed cattle trade in Southern Plains traded 2.00 higher at 105.00, while Nebraska dressed sales were 2.00 higher at 165.00. Steer dressed weights climbed another two pounds this week to 920 lbs, 29 lbs larger than last year.
Cattle on Feed Report released today had On Feed at 104 percent; Placements at 109 percent and Marketings at 97 percent. All summer long, placements have been elongated after light placements this spring and August was no exception.
This afternoon’s Choice boxed beef was reported at 219.34, 3.70 higher than last Friday’s close. Select cutout was reported at 206.98, 3.04 higher than last Friday’s close.
Estimated cattle slaughter under federal inspection this week was reported at a 651K, 6k more than last week, and 1K more than last year. Auction volume this week included 50 percent weighing over 600 lbs and 42 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week: 125
Compared to last week: Feeder steers and heifers not well tested. Demand is light to moderate as mother nature has not been kind to much of the trade area. Supply included: 100% Feeder Cattle (80% Steers, 0% Dairy Steers, 20% 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. and 8-12 cent slide < 600 lbs. Livestock reported this week originated from ID, MT. Current sales are up to 14 days delivery.
Feeder Steers Medium and Large 1
100 Head: 850 lbs, 135.00 Current Del
Feeder Steers Medium and Large 1-2
25 Head: 785 lbs, 132.00 Current Del