NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 03/02/2024

By USDA-MO Dept of Ag Market News

RECEIPTS: Auctions Direct Video/Internet Total

This Week: 227,500 46,200 6,200 279,900

Last Week: 281,800 40,200 57,900 379,900

Year Ago: 209,200 42,300 41,800 293,300

Compared to last week, steers and heifers in the North and South-Central areas sold steady to 3.00 higher, while the Southeast steers and heifers sold 2.00 lower to 1.00 higher.

Demand was reported as good to very good this week as backgrounders were still in the market procuring grazing calves for turnout.

The “grass fever” is upon most of the country as warmer than normal temperatures in the past week had spurred on the mindset of spring is just around the corner and we must have those calves.

Pastures in many states are seeing a tint of green to them as the calendar just turns to March, uncommon for this time of year and some locations were bumping up against record highs over this past weekend. Ranchers with fall-born calves are primed to take advantage of the highest prices seen for their calves in recent times.

Farmers are preparing for another year of getting crops in the ground as fertilizer and anhydrous are being applied. They want to be able to get in and get it done as soon as they can.

Much more moisture is needed across the Plains states for the grass to grow to its potential this year.

No place needs moisture more than the Texas Panhandle as the Smokehouse Fire and others have encompassed nearly 1.3 million acres in the first week.

The Smokehouse fire is the largest wildfire ever recorded in state history and was only 15% contained as of Sunday afternoon.

Along with feeder and calf prices being on the rise recently, replacement stock hadn’t seen the sharp uptick until the past couple weeks.

Now cow-calf producers are looking to increase their herds and have moved the market higher for replacement cattle.

This week at Ozarks Regional Stockyards in West Plains(MO), young pairs with fall calves on the weighing over 300 lbs sold at 3925.00 per pair.

A couple weeks ago at Farmers and Ranchers Livestock in Salina(KS), the top end of the younger cows bred in the 3rd stage sold from 3150.00 to 3350.00.

This could be the best time for selling replacement stock prices in many years as they have climbed higher quickly as the market tries to adjust to around $2000.00 yearlings.

Live sales of negotiated cash fed cattle trade in the Southern Plains sold steady to 1.00 higher at 183.00. In Nebraska, live sales sold steady to 1.50 higher at 183.00 to 184.50, while the dressed sales sold 2.00 lower at 290.00.

Choice boxed beef closed the week 4.67 higher at 305.28 while Select was 9.43 higher at 295.74 for the same period.

Weekly Cattle Slaughter under federal inspection estimated at 599K, 6K more than last week and 27K less than a year ago.

Auction volume this week included 55% weighing over 600 lbs and 45% heifers.