AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This Week Last Week Last Year
325,600 356,600 407,600
Compared to last week, yearling steers and heifers sold steady to 3.00 higher.
Steer and heifer calves sold steady to 2.00 higher. Good demand on the remaining supply of yearlings. Long time weaned calves with full rounds of preconditioning vaccinations sold on good demand creating wide price spreads compared to calves with partial vaccinations.
The Central Plains and Midwest endured unseasonably cold temperatures this week. Furthermore, cattle movement was hindered by rain, wintry mix and snow systems that moved across the country, keeping auction receipts lower than normal for the fall run. The moisture was beneficial for wheat fields in the Southern Plains, however warmer weather is needed to establish good stands suitable for grazing.
Weather systems kept fall harvest at nearly a standstill this week, as corn moisture levels are slow to dry down to suitable levels. Negotiated cash cattle trade developed on Wednesday this week in the Southern Plains with sales 2.00 higher than last week at 112.00. Northern dressed trade was established Friday morning, 5.00 higher than the previous week at 180.00. Live trade in the Nebraska has yet to be established as most producers continue to pass current bids in hopes of higher prices.
The October CME live cattle contract expired on Thursday at 111.67 with 63 deliveries for the month in the Southern Plains. Compared to last Friday’s close Live Cattle and Feeder Cattle CME contracts generally settled 3.00-4.00 higher this week.
Compared to lows established on September 9th nearby contracts have advanced 18.00-20.00 higher. Estimated cattle slaughter for the week was reported at 655,000, 15,000 higher than last week and 2,000 higher than a year ago. The Actual Slaughter Under Federal Inspection report released on Thursday showed steer carcass weights for week ending October 19th were down 1 lb. to 900 lbs.; 6 lbs. above a year ago.
Actual hog slaughter for week ending October 19th was the second highest on record in the data series going back to early 2001. This makes the 4th consecutive week in a row that actual hog slaughter was recorded as the 2nd highest in the data series (Week Ending 9/28/19-10/19/19). Boxed beef prices surged higher this week with Choice 7.76 higher at 233.20 and Select up 7.67 at 207.51; placing the Choice-Select spread at 25.69.
Choice boxes have advanced to their highest values since late August this week, breaking the $233.00 barrier in anticipation of the upcoming holiday season.
Auction volume this week included 60 percent weight over 600 lbs. and 58 percent heifers.
Northwest Weighted Average Direct Feeder Cattle
Weekly Summary WA-OR-ID-UT
This Week Last Week Last Year
964 965 1,611
Compared to last week: Feeder steers and heifers not well tested but few comparable sales were steady to firm. Demand moderate to good. Supply consisted of 97 percent over 600 lbs. and 55 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
195 Head: 814 lbs; 145.69 Current Del
60 Head: 850 lbs; 146.00 Current Del
15 Head: 600 lbs; 148.00 Nov-Dec Del Split Loads
160 Head: 850 lbs; 146.50 Nov-Dec Del
Feeder Heifers Medium and Large 1
90 Head: 775 lbs; 136.73 Current Del
315 Head: 806 lbs; 141.66 Current Del
60 Head: 850 lbs; 139.00 Current Del
54 Head: 900 lbs; 134.00 Current Del
15 Head: 600 lbs; 136.00 Nov-Dec Del Split Loads