NATIONAL FEEDER AND STOCKER CATTLE
(Federal-State Market News)
St. Joseph, Mo.
This week Last week Last year
530,300 HD 143,000 HD 499,700 HD
Compared to last week, feeder steers and heifers were mostly 5.00 to 10.00 lower, instances reported 15.00 lower while steer and heifer calves under 550 lbs sold steady to 5.00 lower. Demand was moderate for most longtime weaned and preconditioned cattle.
Some locations noted a few loads and packages still coming off the cow but selling with little or no discount.
Livestock markets are getting back to normal schedules after the holidays and many willing sellers were on hand to watch their livestock go through the sale ring this week.
Auction receipts on this report totaled 372,300 this week; the largest auction volume reported since 2010.
Total receipts this week totaled 530,300, almost 25,000 head short of week ending July 17, 2015.
However, during that week in July 2015, 65 percent of the volume was attributed to Video and Internet sales.
This week, over 70 percent was attributed to the auction receipts. A lackluster futures market late last week followed through into this week and contributed to the sharp losses occurring in the sale rings throughout the country.
Compared to last Friday, CME cattle complex saw the Live Cattle Contracts 0.35 to 1.88 lower while the Feeder Cattle contracts were 0.68 higher to 2.27 lower. Some analysts were wondering if convergence between the January Feeder contract and CME Feeder Cattle Index would happen this month.
The January Feeder Contract settled at 144.35 today and the CME Feeder Cattle Index reported yesterday at 146.80. Lower feedlot trade on Monday this week was abnormal, however, some producers wanted to get out in front of the winter storms forecast mid-week in the Plains states.
Some feedlots had limited interest to procure large numbers of cattle with another round of bone-chilling temps headed their way. In the Southern Plains and Colorado the last reported market was on Monday with live cash trades at 120.00.
In Nebraska and the Western Cornbelt the last reported market was on Tuesday with live cash trades at 120.00 and dressed trades were at 192.00. Packers tried to make up some ground after the holidays and harvested 611,000 cattle this week — 2,000 more than the same week a year ago. Auction volume this week included 63 percent weighing over 600 lbs and 40 percent heifers.
(USDA Market News)
Slaughter cattle trade in all feeding regions was mostly 2.00-3.00 lower, most trades happening on Friday afternoon. Boxed Beef prices as of Friday afternoon averaged 204.94 up 0.97 from last Friday. The Choice/Select spread is 6.59. Slaughter cattle on a national basis for negotiated cash trades through Friday afternoon totaled 67,031 head.
Last week’s total head count was 73,697.
Midwest Direct Markets:
Live Basis: Steers and Heifers: 120.00-121.00; Dressed Basis: Steers and Heifers 191.00-194.00.
South Plains Direct Markets:
Live Basis: Steers and Heifers 119.00-121.00.
Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls sold 2.00-5.00 higher with exception of the South East trading 1.00-2.00 lower. Cutter Cow Carcass Cut-Out Value Friday was 170.40 up 0.98 from last Friday.
Compared to last week: Feeder steers and heifers not well tested but a lower undertone is noted. Cattle futures moved mostly lower on the week limiting demand. The feeder supply included 100 percent over 600 lbs and 57 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:
90 Head, Avg Wt 660, Avg Price 154.00, Current Del
75 Head, Avg Wt 750, Avg Price 149.00, Current Del
298 Head, Avg Wt 800, Avg Price 145.00, Current Del
190 Head, Avg Wt 875, Avg Price 145.00, Current Del
Feeder Heifers Medium and Large 1:
375 Head, Avg Wt 725, Avg Price 143.50, Current Del
241 Head, Avg Wt 809, Avg Price 140.13, Current Del
Feeder Heifers Medium and Large 1-2:
250 Head, Avg Wt 750, Avg Price 135.00, Current Del