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

NATIONAL SLAUGHTER CATTLE

(Federal-State Market News)

Oklahoma City-Des Moines

June 1

Compared to last week: Slaughter cattle traded mostly steady in Texas and Kansas. Dressed trades in Nebraska steady to $1 higher.

Boxed beef prices June 1 averaged $191.58 up $1.53 from May 26. The Choice/Select spread is at $11.52. Slaughter cattle on a national basis for negotiated cash trades through June 1 totaled about 111,250 head. Last week's total head count was 111,117.

Midwest Direct Markets: Live Basis: Steers and Heifers 35-80 Percent Choice, 1200-1400 lbs. $121-122. Dressed Basis: Steers and Heifers: $194-195.

South Plains Direct Markets: Live Basis: Steers and Heifers 35-65 percent Choice, 1100-1400 lbs. $121.

Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls unevenly steady with markets in Colorado closed for the holiday.

USDA's Cutter cow carcass cut-out value June 1 was $180.51 up $1.22 from May 25.

NATIONAL FEEDER AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

June 1

This week Last week Last year

161,600 285,500 137,800

Compared to May 25, calves sold unevenly steady and yearling feeders ranged steady to $4 higher on light Memorial Day holiday receipts. Most auction markets were closed on May 28 and direct trade was slow to develop as the Chicago Mercantile Exchange was shuttered on Monday and then traded lower until late in the week.

May 25, the CME Feeder Cattle contract moved from the May to the August spot month which left about a $6 gap between the current cash index and the nearest available futures quote. Seasonally light sales volume and rabid demand for yearling feeders could allow the index to catch up quickly, especially on Fridays when the direct sales information is entered. Cash feeder cattle sales (especially on a direct basis) have been about the only element of the commercial cattle arena that has reacted appropriately to May's bullish cattle-on-feed report.

Data from the report also suggested that there will be significantly heavier supplies of market-ready cattle through the first part of the summer. Plus, weights of finished cattle have been heavy for this time of year, which has partially made up for tighter numbers and smaller harvest. Replacement feedlot cattle are hard to buy and many cattle feeders find it easier to put extra pounds on those already owned.

Outstanding performance and the use of finishing feed additives have improved feed efficiency and dressing percentages to add an extra 15-18 lbs. per carcass.

Beef production is down 3 percent so far for the year, but would be down well over 5 percent if carcass weights had not increased. Pasture gains are also likely to be impressive this year as slightly dry conditions in the major grazing regions may cause cattle to come off early, but the roughage is sticking to their ribs and not washing through as it does when the grass is too wet.

Much of the Southwest United States is having deja vu as high winds and the lack of moisture have eliminated the slight relief seen earlier in the year. Much needed Corn Belt rains aided this year's massive corn crop and newly planted soybeans this week as prices continued to drift lower. Northern feedlots and independent farmer feeders are battling each other for the light offerings of available feeder cattle.

At the United Producers Inc. Maryville market in extreme northwestern Missouri a load of 915 lb. steers brought $150.25, followed by a load weighing 950 lbs. at $146.25, and another tipping the scales at 1040 lbs. that sold for $137. Feedlots sold mostly steady from $121-122 this week but were able to stick about a $4 basis in their pocket from the lagging Board.

Meanwhile cow/calf producers in Valentine, Neb., purchased young black-hided pairs at the salebarn from $2175 to $2860 per pair. This week's reported auction volume had 50 percent over 600 lbs. and 43 percent heifers.

AUCTIONS

This week Last week Last year

115,800 187,100 116,900

WASHINGTON There was not enough feeder cattle sales to report.

DIRECT

This week Last week Last year

36,400 57,200 10,100

SOUTHWEST (Arizona-California-Nevada) 1,500. No cattle over 600 lbs. No heifers. Holsteins: Large 3 October 325 lbs. $190 Del.

NORTHWEST (Washington-Oregon-Idaho) There were no direct sales reported.

NORTHWEST DIRECT CATTLE

(USDA Market News)

Moses Lake, Wash.

June 1

This week Last week Last year

None 2,300 1,900

Compared to last week, stocker and feeder cattle trade slow with no confirmed sales. Trade remains slow as many grass-type cattle turned out on pastures and held in firm hands. 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.