NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 03/30/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 129,400 23,300 5,200 157,900
Last Week: 196,400 42,200 53,100 291,700
Year Ago: 185,800 48,200 81,700 315,700
Compared to last week, steers and heifers sold uneven; 3.00 lower to 3.00 higher.
The supply of feeders was light to moderate, and demand was moderate to good.
An early week snowstorm and poor road conditions in the Northern Plains cancelled early week sales and late week sales were slow too as a result.
More new crop fall-born calves were noted this week this week which were a little softer and not all weaned. These calves are not near as desirable for turn out as those that have more days weaned and carrying less flesh which had been making up most of the offering in previous weeks. Most of the big orders for spring grazers have been filled at this point but still some smaller guys that wait as prices do typically take a dip as the new crop starts to show.These calves do come with a bit more risk and don’t see quite as quick gains.
Another thing that comes into play is not everyone has places to hold them so they will have to wait till grass is here or very close before they can buy.
Some auction markets in the Northern Plains will go to every other week sales as the calendar turns to April and the availability of feeders gets tighter.
In addition, calving is into full swing across the country.
Cow numbers coming to the sales are in tight supply and helped push the slaughter cattle higher. The USA uses a lot of hamburger meat daily, and it takes a large supply of cows and bulls to fill those needs.
Packers showed very good demand for slaughter cows this week as they were forced to push offerings sharply higher in order to procure them.
The CME Cattle Complex struggled this week will all contracts lower for the week. This week, Live Cattle contracts were 2.00 to 3.00 lower for the most part while the out front Feeder Cattle contracts were 4.00 to 6.00 lower.
Live sales of negotiated cash fed cattle trade in the Southern Plains sold 2.00 to 3.00 lower at 185.00 to 186.00. In Nebraska, live sales sold steady to 1.00 lower at 189.00 to 190.00, while the dressed sales sold steady to 3.00 lower at 299.00 to 302.00.
Choice boxed beef closed the week 4.00 lower at 306.72 while Select was 1.96 higher at 303.43 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 5863K, 12K less than last week and 59K less than a year ago.
Auction volume this week included 44% weighing over 600 lbs and 44% heifers.
