NATIONAL FEEDER

AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo.

June 24

RECEIPTS

This Week Last Week Last Year

190,200 220,900 198,200

Compared to last week, steers and heifers sold steady to 5.00 higher on lighter trading again this week. Demand was moderate to very good depending on quality, weaning status and flesh condition in many areas. The market is incredibly active on yearlings as cattle feeders are so hopeful that this run in the fed cattle market continues.

The supply of feeders was light with heat affecting some sales and many farmers in the hayfields.

Grazing conditions have been adequate so far this summer and has allowed yearlings to stay turned out. Some ranchers want to take advantage of these high prices and will gather them up when they can.

Heat will also be an issue in the coming weeks as the calendar rolls to the dog days of summer and July can get very hot with heat indices into the triple digits that makes it hard on man and beast.

Some auctions are starting to have their holiday special sales offering good strings of cattle with health programs, weaning and lots of quality. Given the tight supplies, buyers have been willing to bid aggressively and push markets higher, however, calves with hair or extra flesh are not nearly as desirable and finding discounts but those prices are still being pulled up by the better cattle.

During the holiday week, many auction markets will take some time off to fix a few things around their locations. This will keep receipts in check.

The CME Live Cattle futures continues to lag 10.00 behind the cash market, causing buyers to pay no attention to it at all as they are fully aware of how limited cattle numbers are this year.

This past week, heavy rains in South Dakota, Iowa and Minnesota caused low land flooding as some areas received more than 12 inches of rain, with reports of some dams being in danger of failing. The total losses will be sure to added up after the water does go down, as farmers and ranchers will be hurt as well as residents of towns.

The monthly Cattle on Feed report was released on Friday afternoon with On Feed number at 100% of a year ago. Placements were reported 104 pct and Marketings 100% of a year ago. The CME Cattle Complex was mostly lower from six months, except for front month June Live Cattle being 0.775 higher. All other LC Contracts were mostly 1.225 to 1.750 lower for the week. Feeder Cattle contracts were 2.175 to 3.600 lower for the week.

The LC contracts have not kept pace with the marketing of fed cattle this month as the Nebraska and Iowa live markets are more than 10.00 higher than the current delivery month.

Live sales of negotiated cash fed cattle trade in Texas sold 3.00 to 4.00 higher at 189.00 to 190.00. Live sales in Kansas sold 2.00 to 5.00 higher at 188.00 to 191.00 with a few up to 198.00. In Nebraska, live sales sold steady to 7.00 higher at 197.00-198.00 with a few up to 198.50, while the dressed sales sold 5.00 to 6.00 higher at 310.00 to 312.00.

Choice boxed beef closed the week 2.50 higher at 322.39 while Select was 0.70 lower at 303.11 for the same period. Weekly Cattle Slaughter under federal inspection estimated at 620K, 5K more than last week and 29K less than a year ago. Year to Date Cattle Slaughter is currently 687K less than a year ago.

Auction volume this week included 54% weighing over 600 lbs and 42% heifers.

NORTHWEST WEIGHTED AVERAGE DIRECT FEEDER CATTLE

Weekly Summary WA-OR-ID-UT

June 21

THIS WEEK LAST WEEK LAST YEAR

1385 500 590

Compared to last week: Not enough trades to test trends. Demand good Supply included: 100% Feeder Cattle (39.4% Steers, 60.6% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 2% shrink or equivalent, with a 8-12 cent slide >600 lbs. Livestock reported this week originated from CA, ID, NV.

Steers — Medium and Large 1

120 head: 900 lbs, 234.00 Current DEL

Steers — Medium and Large 1-2

425 head: 860 lbs; 236.00 Current DEL

Heifers — Medium and Large 1

840 head: 811 lbs; 230.00 Current DEL

Northwest Direct: https://www.ams.usda.gov/mnreports/AMS_3059.pdf

Northwest Direct — https://www.ams.usda.gov/mnreports/AMS_3059.pdf

Northwest Direct — https://www.ams.usda.gov/mnreports/AMS_3059.pdf