NATIONAL FEEDER

AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

Jan. 25

RECEIPTS:       Auctions     Direct    Video/Internet     Total
This Week       186,800      35,500            32,100     254,400  
Last Week       267,700      63,600             3,800     334,800  
Last Year       283,400      83,800            20,200     387,400

   Compared to last week, steers and heifers were uneven; with early week sales 
quoted steady to 5.00 lower and mid to late week sales reportedly steady to 5.00 
higher.  Those early week sales all had a downward trend that was spillover from the 
previous week followed by lower futures on Tuesday.  Buyer interest had waned early 
week due to the winter weather that came in over the weekend.  Between mud, snow, 
ice, or a mixture of all the above transporting cattle has proven to be difficult and 
sales either cancelled or continued on with lighter receipts.  Some feedyards are 
content to wait for pens to harden and dry up a bit before receiving more 
cattle.  Producers and feedyards are finding it difficult to feed enough mega 
calories maintenance in the harsh conditions, let alone trying to increase weight.  A 
Feeder Cattle futures rally on Wednesday was a welcome sight for auctions as buyer 
interest picked up and prices advanced as well.  The calf market finally improved in 
Oklahoma as heavy moisture this month (OK seems to be 300% of normal for January) 
will provide for some nice pasture after warm up.   Spring stocker orders there are 
starting now and will continue through mid-April.  Larger runs are expected next week 
provided that harsh winter temperatures don't make it again difficult for 
transporting stock.  The CME Feeder Cattle Index is nearly 3.00 lower than when the 
New Year arrived and the January Feeder contract has been around 1.50 lower in the 
past 3 calendar weeks.  Wednesday and Thursday saw changes in green font in the CME 
Feeder Futures; a welcome sight after Tuesday's losses and the week closed 1.92 
higher on the January and the March to September contracts close 0.02 to 0.80 higher 
on the week.  Fed cattle trading seems to be confined to mostly Friday again the week 
with live sales trading 1.00 lower at 123.00 while dressed sales are steady at 
197.00.  For the week, the Choice cutout closed 3.86 higher at 217.01, while Select 
was 2.58 higher at 212.03.  Cattle Slaughter under federal inspection estimated at 
610K for the week, 10K lower than last week and 16K above a year ago.  Auction volume 
this week included 53 percent weighing over 600 lbs and 41 percent heifers.

Auctions Receipts:  186,800    Last Week 267,700    Last Year 283,400
(53 pct over 600 lbs, 41 pct heifers)
Northwest Weighted Average Direct Feeder Cattle 
Weekly Summary WA-OR-ID-UT
Jan. 25
Receipts:  1,927     Last Week:  4,952    Year Ago:  4,773

   Compared to last week:  On current delivery basis, Feeder steers and heifers 2.00-
5.00 lower.  Feeder cattle demand in a lull with winter weather slowing things down 
and adding to large inventories. Feedlots Supply included 98 percent over 600 lbs and 
51 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
   45      640       640       157.00         157.00   Current Del  Split Loads
   45      680       680       154.00         154.00   Current Del  Split Loads
  160      700       700       148.00         148.00   Current Del   
   70      775       775       143.00         143.00   Current Del   
  190    750-775     769    143.50-147.50     145.79   Current Del  Split Loads
  191      860       860       139.00         139.00   Current Del   
  250      750       750    148.00-150.00     148.80   Feb     Del  Split Loads

                Feeder Heifers Medium and Large 1
 Head   Wt Range   Avg Wt    Price Range   Avg Price  Delivery
  104      630       630       146.60         146.60   Current Del   
   45      600       600       145.00         145.00   Current Del  Split Loads
  140      675       675       140.00         140.00   Current Del   
   40      660       660       142.00         142.00   Current Del  Split Loads
   92      710       710       141.35         141.35   Current Del   
  160    740-745     743    135.00-138.00     136.69   Current Del  Split Loads
   30      750       750       135.00         135.00   Current Del  Split Loads
   65      800       800       135.00         135.00   Current Del   
  100      700       700       142.00         142.00   Feb     Del  Split Loads
  200      750       750       138.00         138.00   Feb     Del  Split Loads 

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