NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 05/18/2024

By USDA-MO Dept of Ag Market News

RECEIPTS: Auctions Direct Video/Internet Total

This Week: 145,400 39,900 35,800 221,100

Last Week: 146,400 48,000 7,900 202,300

Year Ago: 145,400 51,100 9,700 206,200

Compared to last week, steers and heifers sold 1.00 to 5.00 higher. Demand was moderate to very good for all classes and types of bovines this week as ranchers are looking to alternatives to calves to fill summer grass needs. Demand for replacement females has been good this whole spring and continues to be.

Cattle feeders paid little attention to the futures contracts as they know full well how tight supplies of fed cattle in the northern plains really are. Feeder offerings have been light to moderate and when a good-sized sale is held the market is incredibly active as the grass how now taken off growing as some heat has finally shown up in the Northern Plains. Auction receipts will be light throughout the summer for the most part, outside of the annual summer BBQ sales that will be held in June.

Cattle feeders can see how there are fewer cattle in the country and know they will have to give more to get their cattle bought that they need. Corn planting is moving along however some areas have been inundated with rain and planters have slowed for two to three weeks. With the warm weather and ample moisture, early planted corn and soybeans are growing very quickly now with growing degree days coming.

Currently, there is a lot of optimism in the cattle industry, despite the futures contracts that are dollars under the current cash markets.

Hay producers are ready to get a start on forage harvesting if they can get across fields without rutting them up as rain showers are in forecasts in many locations across the country this week.

Live sales of negotiated cash fed cattle trade in the Southern Plains sold 2.00 to 3.00 higher at 186.00. In Nebraska, live sales sold 3.00 to 4.00 higher at 190.00, while the dressed sales sold 2.00 to 3.00 higher at 298.00 to 300.00. Choice boxed beef closed the week 18.88 higher at 313.45 while Select was 13.23 higher at 297.40 for the same period.

Weekly Cattle Slaughter under federal inspection estimated at 598K, 24K less than last week and 42K less than a year ago. Year to Date Cattle Slaughter is currently 570K less than a year ago. Auction volume this week included 54% weighing over 600 lbs and 43% heifers.