National feeder and stocker cattle report

(Federal-State Market News)

Compared to last week, steers and heifers sold 2.00 to 6.00 higher in auctions in the Southeast and South-Central states. The North-Central region would be called sharply higher after not many sales occurred the week prior to the July 4 holiday and several BBQ specials on the calendar brought handsome prices this week to consignors.

Yearlings and calves alike sold in moderate to good demand nationwide this week as buyers were willing to fill pens with limited sales again this week. The Bassett Livestock (NE) BBQ sale had some striking prices reported from Wednesday as buyers were active in the seats as well as online bidding. Three loads of 763 lb steers notated with the Non-Hormone Treated Cattle Program description sold at 176.75 and another three loads of NHTC steers weighing 847 lbs sold at 167.25.

Even steers weighing over 1000 lbs were in demand in Bassett with over six loads averaging 1005 lbs sold at a weighted average of 151.06.

Beef cows continue to come to slaughter in the North Central part of the country as drought persists. Some auctions are having replacement stock sales as some of those Dakota origin cows are making their way south and east where moisture has been more prevalent this growing season.

Feeder cattle auction receipts are typical for this time of year as most sales are on their summer schedules and in another month or two, calf sales will be upon the industry.

Live Cattle futures struggled to find support this week as Negotiated cash cattle traded lower in the Southern Plains this week at 119.00 to 120.00 and the front two months of Live Cattle futures were 2.50 to 2.775 lower for the week. Feeder Cattle futures found support as they were more than 2.00 higher on the week, while new-crop corn closed more than 62 cents lower this week.

Boxed beef values continue to slide, and this week has been no different than the last four weeks. Choice boxed beef closed the week 6.85 lower at 278.59, while Select was 7.00 lower at 257.41 for the same period. On Friday afternoon, the Choice-Select spread was reported at 21.18.

Weekly Cattle Slaughter under federal inspection estimated at 582K for the week, 44K less than last week, and 67K less than a year ago. Auction volume this week included 63 percent weighing over 600 lbs and 40 percent heifers.

Northwest Weighted Average Direct Feeder Cattle

Weekly Summary WA-OR-ID-UT

This Week Last Week Last Year

Compared to last week: Steers and Heifers not well tested. Demand good to moderate. Supply included: 100% Feeder Cattle (42.8% Steers, 57.2% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 0% shrink or equivalent, with a 0 cent slide > 600 lbs. Livestock reported this week originated from ID, NV, OR, UT.

Steers — Medium and Large 1

800 Head: 800 lbs, 146.87 Current FOB

2 Head: 780 lbs, 146.00 Current DEL

233 Head: 807 lbs, 148.97 Current DEL

265 Head: 852 lbs, 149.81 Current DEL

110 Head: 825 lbs, 148.62 Aug FOB

Heifers — Medium and Large 1

405 Head: 775 lbs, 138.57 Current DEL

773 Head: 812 lbs, 139.97 Current DEL

149 Head: 860 lbs, 134.36 Current DEL

245 Head: 900 lbs, 127.27 Current DEL

310 Head: 775 lbs, 143.62 Aug FOB