NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 01/20/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 96,900 47,000 4,500 148,400
Last Week: 241,700 29,500 164,000 435,200
Year Ago: 267,000 25,700 147,200 439,900
Compared to last week, steers and heifers sold 4.00 to 10.00 higher, getting back the losses from the previous week. Most advance this week was on cattle going to summer grass or headed to wheat pastures as those are in shorter supply. Demand was moderate to good for calves and feeders. Weather again was the story this week as Arctic temperatures plunged through the Plains states to the Southeast part of the country, leaving bitter cold temperatures and anything from rain to ice to snow in its path. Many auctions did not have sales Monday through Thursday last week, including Joplin Regional Stockyards and Oklahoma City National Stockyards. Supply was very light for this time of year; some auctions haven’t had a “normal” auction since before Christmas. Ranchers in the southern states of Alabama, Georgia, Mississippi and Tennessee are not equipped to handle the sharp decline in the mercury.
Cattle feeders in the Plains states have been busy moving snow out of pens and with the negative temps they got makes them not real enthused to take on incoming cattle as the horrible weather creates so much extra work. Much better weather next week as temps finally move back above zero. Record setting cold make things just downright miserable for most of the week. Weeks like this make the hay piles smaller in a hurry as farmers must provide not only full diets but also provide a place for cattle to lay down and try to retain some body heat.
Preliminary 2023 Yearly cattle slaughter rates suggest a 4.2 pct less slaughter than a year ago and 2.3 pct below the previous 3-year average. The most reduction in slaughter percentage wise was beef cow slaughter 11 pct lower (about 440K head) than the previous year while steer harvest was 5.1 pct less (around 800K). An interesting note is the 2023 steer harvest total (around 15 Million Head) would be the lowest steer total in 50-plus years. In recent weeks, ranchers in the Southern Plains are looking to restock their limited cow herds recently and have made their way to the Northern Plains to get some bred females.
Light volume of fed cattle trading this week again as packers continue to adjust harvest schedules as weather allows. Live sales of negotiated cash fed cattle trade in the Southern Plains were reported 1.00 to 1.50 higher at 173.00 to 173.50. In Nebraska, live sales sold steady at 173.00, while the dressed sales sold unevenly steady at 273.00 to 274.00. Choice boxed beef closed the week 6.24 higher at 295.50 while Select was 11.20 higher at 283.05 for the same period. Weekly Cattle Slaughter under federal inspection estimated at 617K, 71K higher than last week and 30K less than a year ago. Auction volume this week included 55% weighing over 600 lbs and 42% heifers.
