Cattle prices in dollars per hundredweight (cwt.) except some replacement animals per pair or head as indicated.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

March 8

This week Last week Last year

285,900 217,800 319,800

Compared to the last good test, which was actually Feb. 15 as two major snowstorms limited commerce throughout most major cattle production areas, feedlot replacements sold weak to $5 lower. The feeder cattle market was very disappointing to producers who have struggled through wintry conditions while waiting for trade to resume. Stocker cattle and lightweight calves suitable for early grass sold fully steady to $5 higher with many thin-fleshed offerings up to $10 higher near major grazing areas. At the Joplin Regional Stockyards on March 3, 6-weight stocker cattle were highly sought after with one package of thin long-weaned stretchy black steer calves weighing 619 lbs. bringing $172. After 1-2 feet of snow fell across the Flint Hills of Kansas, landlords and lessees are hoping for additional forecasted moisture to raise pond levels and allow for normal stocking rates this grazing season. Improved weather in cattle country this week spawned "grass fever" in many backgrounders, especially across the Southeast where local cattle growers pushed western orders as Dixieland is no longer under the grips of drought. However, winter weather pounded the heavily populated areas of the Northeast once again which continues to limit beef consumption in that area. The Plains and the Midwest are still facing drought, despite two weeks of snowy storms, although this fact is not fresh on area ranchers' minds as muddy lots challenge the tops of their knee-high boots. Calving season is in full swing with many new arrivals meeting the world on snow banks or in mud-holes. Commercial feedlots are especially messy and most large volume cattle feeders showed restraint in this week's procurement even though shipments of new cattle have been sparse for the last few weeks. Apparently, feedlots are tired of losing money and have decided to strive for a breakeven breath before diving back down for golden hopes. Fundamentals are lined up in a row for a feeder cattle market surge, including; improved weather, a spring rally in beef cut-out values, a rebounding economy along with an all-time record-high stock market, and last but clearly not least the well-advertised lack of supply. But, with rising stacks of red-ink closeouts and no support from the CME cattle futures, cattle feeders can no longer justify recent feeder cattle price levels. Feedcosts are anchoring yearling prices that are running $15-20 behind year ago record levels, even though the fed cattle market is just a couple dollars off its all-time high. This week's reported auction volume included 65 percent over 600 lbs. and 43 percent heifers.

AUCTIONS

This week Last week Last year

221,900 132,700 264,800

WASHINGTON 1,800. 67 pct over 600 lbs. 49 pct heifers. Steers: Medium and Large 1-2 550-600 lbs. $ 156.56; 600-650 lbs. $ 145.92; 650-700 lbs. $ 139.73; 750-800 lbs. $ 131.76; 850-900 lbs. $ 122.82. Heifers: Medium and Large 1-2 500-550 lbs. $ 144.45; 600-650 lbs. $ 133.37; 700-750 lbs. $ 125.98; 750-800 lbs. $126.73.

DIRECT

This week Last week Last year

53,500 47,600 37,400

SOUTHWEST (Arizona-California-Nevada) 500. No cattle over 600 lbs. No heifers. Holsteins: Large 3 July 300 lbs. $144 Del.

NORTHWEST (Washington-Oregon-Idaho) 1,000. 100 pct over 600 lbs. 16 pct heifers. Steers: Medium and Large 1-2 Current FOB Price 650-700 lbs. $145 Idaho; 750-800 lbs. $131 Idaho; 850-900 lbs. $127-130 Idaho-Oregon. Heifers: Medium and Large 1-2 Current FOB Price: 600-650 lbs. $139 Idaho; 800-850 lbs. $123 Oregon. Bred Heifers (Per Head) Medium and Large 1-2 FOB 1000-1050 lbs. $1-3 months bred $1400 for October Idaho.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

March 8

This week Last week Last year

950 850 2,250

Compared to March 1, feeder cattle steady in a light test. Not enough stocker cattle reported this week for accurate trends. Trade near standstill. Demand light as most feedlots remain full and keep getting backed up, also asking prices and bids are too far apart for trade to develop. The feeder supply included 84 percent steers and 16 percent heifers. Near 100 percent of the supply weighed over 600 lbs. Prices are FOB weighing point with a 1-4 percent shrink or equivalent and with a 5-10 cent slide on calves and a 3-6 cent slide on yearlings.

Steers: Medium and Large 1-2: Current FOB Price: 650-700 lbs. $145 Idaho; 750-800 lbs. $131 Idaho; 850-900 lbs. $127-130 Idaho-Oregon.

Heifers: Medium and Large 1-2: Current FOB Price: 600-650 lbs. $139 Idaho; 800-850 lbs. $123 Oregon.

Bred Heifers (Per Head): Medium and Large 1-2: FOB Future Delivery: 1000-1050 lbs. $1-3 mos. bred $1400 for October Idaho.