AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
RECEIPTS: Auctions Direct Video/Internet Total This Week 148,900 29,100 16,500 194,500 Last Week 146,800 21,300 22,700 190,800 Year Ago 185,700 36,000 24,500 246,200 Compared to last week, steers and heifers sold steady to 5.00 lower, with instances up to 8.00 lower at some auctions nationwide this week. Fundamentals haven’t changed much this week and many are reeling from a $100 plus per head devaluation of feeders since Good Friday. The CME Cattle complex seems to have found some footing this week, even though grain futures have rebounded off lows from last week due to planting issues. This week at Valentine (NE) Livestock Auction, a load of 571 lb steers called fancy sold at 193.50. It’s been a few weeks since some heavy 5 weights have been reported in the 190’s. Monday's planting progress report for w/e 5/12/2019 revealed that planting pace for corn is now 29 percent behind a year ago and 36 percent behind the 5 year average. Soybean acres planted are 23 percent behind a year ago and 20 percent behind the 5 year average. Days suitable for fieldwork have been less that desirable for a considerable amount of the US this spring. Along with that hay production may be hampered by the cooler spring and limited sunshine this year and many areas need to have an abundance of harvested forage in order to get back to a surplus situation. Cattle trade started on Wednesday with the Southern Plains trading at 117.00 mostly 3.00 lower with Northern Plains on Thursday at 117.00 as feedlots jumped on the bids. Boxed-beef prices continue lower as meat purchases for Memorial Day are pretty much done. Middle meat prices are steady to weak as this may reflect widespread wet, cold weather across much of the country that is delaying summer beef demand. Warm weather should boost beef demand seasonally in the coming weeks as Father’s Day and the 4th of July are ahead for the grilling season. For the week, the Choice cutout closed 0.80 lower at 220.31, while Select was 0.82 higher at 208.28. Cattle Slaughter under federal inspection estimated at 660K for the week, 11K less than last week and 8K less than a year ago. Auction volume this week included 51 percent weighing over 600 lbs and 44 percent heifers.
Northwest Weighted Average Direct Feeder Cattle Weekly Summary WA-OR-ID-UT
Receipts: 1,216 Last Week: 317 Year Ago: 2,185 Compared to last week: Feeder steers and heifers lightly tested last week and no good comparisons. However undertone is sharply lower. Cattle futures continued to fall and slaughter cattle prices on the decline as well. This limiting demand for feeder cattle. Demand moderate. Supply consisted of 100 percent over 600 lbs. and 23 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 855 850-875 869 125.00-127.00 125.27 Current Del 30 860 860 127.00 127.00 Current Del Split Loads Feeder Steers Medium and Large 1-2 Head Wt Range Avg Wt Price Range Avg Price Delivery 58 850 850 120.00 120.00 Current Del Feeder Heifers Medium and Large 1 Head Wt Range Avg Wt Price Range Avg Price Delivery 185 800 800 123.00 123.00 Current Del 30 800 800 119.00 119.00 Current Del Split Loads Feeder Heifers Medium and Large 1-2 Head Wt Range Avg Wt Price Range Avg Price Delivery 58 850 850 113.00 113.00 Current Del