NATIONAL FEEDER

AND STOCKER CATTLE

(Federal-State Market News)

St. Joseph, Mo. Jan. 13

RECEIPTS

This Week Last Week Last Year

387,600 111,100 435,200

Compared to last week, steers sold 4.00 to 10.00 higher and heifers sold 1.00 to 6.00 higher on good to very good demand nationwide. Buyers were eager to get back in the seats, especially in the Southeast as the markets in that area had been closed for two full weeks.

With the feeder cattle market very strong right now, many producers are pulling cattle ahead of their normal marketing time. Some cattlemen are flipping previous purchases and making a substantial profit on calves they purchased last summer/fall and reselling now.

In late August 2024, the January Feeder Cattle futures contract was in the upper 220’s and with Friday’s close of 272.35, that contract has gained nearly 45.00 since then. For reference in the same period last year, the January FC contract was nearly 30.00 lower.

Futures and cash feeder cattle markets have not been acting “normally” this year. Typically, there is a drop-off from mid-September to late November as buyers don’t have short-weaned or unweaned calves on the top of their list to purchase. This past fall, it didn’t matter … the market just continued to run higher.

Between Winter Storm Blair last Sunday and another winter storm on Thursday into Friday blew through and encompassed most of the southern tier of the nation. Dallas and Atlanta received snowfall and many ranchers in those areas are certainly not used to that type of weather. The ground was certainly warm enough in many areas to ward off long term effects of the snowfall.

Arkansas seemed to be the one most hit with 8 to 12 inches of snow reported. The cash fed cattle market is on fire these past couple weeks and was higher again setting record highs, leaving the CME Live Cattle futures contracts around 4.00 under the cash in the Northern Plains and 1.00 to 2.00 under in the Southern Plains.

Negotiated sales of slaughter steers and heifers in the Southern Plains sold 3.00 to 4.00 higher at 200.00, with a few up to 202.00. In Nebraska, live sales were 3.00 higher at 203.00, while dressed sales sold 5.00 higher at 320.00.

Choice Boxed beef is at its highest level since June 2023, with only 18.70 Choice-Select spread. In June 2023, the spread was over 30.00. For the week, Choice Boxed beef closed on Friday at 332.84, 7.60 higher and Select closed at 314.14, 17.42 higher.

Weekly Cattle Slaughter under federal inspection estimated at 589K, 83K more than last week and 44K less than a year ago. A year ago, a snowstorm blew through the country and shuttered auction markets and reduced harvest at many cattle plants. Auction volume this week included 55 percent weighing over 600 lbs and 40 percent heifers.

NORTHWEST WEIGHTED AVERAGE DIRECT FEEDER CATTLE

Weekly Summary WA-OR-ID-UT Jan. 17

THIS WEEK LAST WEEK LAST YEAR

1,224 2,024 4,835

Compared to last report: Not enough comparable sales for a market trend. Demand good. Supply included: 100% Feeder Cattle (21.4% Steers, 26.6% Dairy Steers, 52% Heifers). Feeder cattle supply over 600 lbs was 100%. Unless otherwise noted, Feeder Cattle prices FOB based on net weights after a 2-3% shrink or equivalent, with a 8-12 cent slide > 600 lbs. Livestock reported this week originated from CA, ID, OR, WA.

Steers — Medium and Large 1-2

45 head: 675 lbs, 290.00 Current DEL

51 head: 723 lbs, 272.24 Current DEL

32 head: 760 lbs, 253.00 Current DEL

125 head: 910 lbs, 245.00 Feb. DEL

Steers — Medium and Large 2

9 head: 900 lbs, 230.00 Current DEL

Dairy Steers — Medium and Large 2

325 head: 675 lbs, 283.00 Current DEL

Heifers — Medium and Large 1

70 head: 612 lbs; 280.00 Current DEL

416 head: 651 lbs; 274.35 Current DEL

15 head: 900 lbs; 227.00 Current DEL

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