NATIONAL FEEDER & STOCKER CATTLE SUMMARY — WEEK ENDING 02/10/2024

By USDA-MO Dept of Ag Market News

RECEIPTS: Auctions Direct Video/Internet Total

This Week: 303,000 57,300 57,400 417,700

Last Week: 286,500 52,600 6,200 345,300

Year Ago: 256,500 52,000 5,100 313,600

Compared to last week, steers and heifers sold steady to 5.00 higher. Demand was good for all weights and classes of cattle. This week is the largest auction volume on this report for the year so far, which is normally reserved for the first full week of the New Year due to the challenging wintry conditions at that time pushed the marketing of auction cattle out further than normal.

Feedyard and backgrounding pens in the Plains have improved after they were inundated with snow a few weeks ago.

There has been much optimism infused into the feeder market by

the futures contracts moving back towards their historic levels before they crashed after Thanksgiving.

In the Northern Plains, several internet and in house buyers are looking for heifers to place a bangs tag in and will be bred to a bull for resale later this year or kept within their own herds. Feedlot trade was at a standstill all week until late Friday afternoon.

Feedyard managers felt they needed more money as the Feb CME cattle board closed higher every day and ended 4.075 higher from previous Friday at 184.625. In addition, many lots of cattle going out light due to the previous weather conditions. In addition, they greatly needed a price increase as the fat market has been at a disappointing level for cattle feeders after having to give record or near record high prices for incoming feeder cattle.

Live sales of negotiated cash fed cattle trade in the Southern Plains sold 3.00 to 4.00 higher at 178.00 to 179.00. In Nebraska, live sales sold 4.00 higher at 180.00-182.50, while the dressed sales sold 5.00 to 9.00 higher at 285.00 to 289.00. Choice boxed beef closed the week 0.96 higher at 294.04 while Select was

1.61 higher at 285.08 for the same period. Weekly Cattle Slaughter under federal inspection estimated at 622K, 15K less than last week and 6K less than a year ago.

Auction volume this week included 54% weighing over 600 lbs and 43% heifers.