(Federal-State Market News)

St. Joseph, Mo.

May 17

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
May 17
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   

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