NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 03/16/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 200,600 33,700 3,300 237,600
Last Week: 213,400 35,200 57,600 306,200
Year Ago: 194,400 45,700 44,100 284,200
Compared to last week, Feeder Steers and Heifers sold mostly steady to 5.00 higher, with instances from 7.00-10.00 higher throughout the bulk of all trade regions. Besides some of the lightweight calves going to grass some of the sharpest gains have been on mid-weight calves from 600-750 lbs all selling on a very active market.
Every weight and class of feeders is fully entrenched at price levels that the stars continue to line-up for this feeder market; as tight supplies, very good demand and affordable inputs keep buyers so far coming back to the well. One comment heard around sale barns is feeder cattle are easy to sell and getting harder to buy. On the other hand, buyers that are trying to assemble numbers and/or fill orders have and understanding of current conditions.
There were many impressive prices seen around the country this week at Winter Livestock in La Junta, CO on Tuesday sold 56 fancy steers weighing 425 lbs at 410.00 per/lb, 383 head of thin fleshed heifers weighing between 500-550 lbs averaging 511 lbs sold for a weighted average price of 315.82.
At the Lolli Livestock Market in Macon, MO on Tuesday sold 60 hd of heifers weighing 602 lbs for 287.75.
In Aberdeen, SD at the Hub City Livestock sale on Wednesday sold 604 hd of steers weighing between 650-700 lbs averaging 684 lbs sold for a weighted average price of 294.69 and 557 hd of their bigger brothers weighing from 700-750 lbs averaging 722 lbs sold for a weighted average price of 286.48.
In Torrington, WY on Wednesday at Torrington Livestock sold 243 hd of 700-750 lb steers averaging 719 lbs for a weighted average price of 285.46. Mitchell, SD on Thursday sold 759 hd of steers weighing between 800-850 lbs averaging 820 lbs for a weighted average price of 256.83.
In Ogallala, NE on Thursday sold 436 steers weighing 600-650 lbs with a weighted average of 618 lbs sold for a weighted average price of 18.42 and the list continues on as buyers flex their muscle in pursuing all classes of feeder cattle.
Packers continue to slash slaughter levels after three straight weeks of sub-600,000 this week’s slaughter is estimated at 601,000, in effort to keep boxed-beef prices elevated. Boxed-beef prices continue to grind higher with choice up 1.12 at 311.90 and Select closing .71 cents higher at 302.40, compare to last Friday’s close with Choice at 307.04 and select at 297.43.
Feedlot trade in the Southern Plains was mostly at 186.00 with the Northern Plains-Western Corn Belt ranging from 187.00-189.00.
Weekly Livestock Slaughter under Federal Inspection week to date estimated at 601K, 18K more than last week and 27K less than last year. Auction volume consisted of 55 pct over 600 lbs and 46 pct heifers.
