NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 04/27/2024
By USDA-MO Dept of Ag Market News
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 165,000 68,200 11,300 244,500
Last Week: 167,700 44,900 70,900 283,500
Year Ago: 196,700 41,000 53,600 291,300
Compared to last week, steers and heifers in the Central part of the country sold 3.00 to 7.00 higher, while the Southeast part of the country sold steady to 5.00 higher. The supply of feeders was moderate with a good selection of feeders across all weight ranges this week. Demand was moderate to good with very good demand for loads heading to summer grass.
Moisture finally arrived over the last week with totals varying widely as some areas only received about an inch while some of the most extreme amounts surpassed ten inches of moisture over the last week. Although ten inches was a bit much, the moisture has been greatly needed and despite some flooding will go a considerable way towards helping improve what have been very dry soils in the heart of the country.
Several storms late last week were very severe and produced tornadoes from Texas to Iowa with notable ones in Nebraska and Oklahoma receiving EF3 status.
Most ranchers were ready for a rain but did not want to see that type of turbulence in the atmosphere that produced so much damage in its path.
Prior to being put on hold because of the rain spring field work had been running at full steam. As of the last report planting was well ahead of the five-year average for both beans and corn. Haying was taking place in several areas although most was early type hay that was being wrapped and not put up dry.
The CME Cattle Complex saw great strides again this week as the market appeared bullish to traders.
Live Cattle contracts were mostly 3.00 to 4.00 higher for the week while Feeder Cattle Contracts were pulled upward by the auction market purchases and were around 7.00 higher for the week.
At the beginning of April (not that long ago), summer month Live cattle futures were in the lower 170’s, upper 160’s. As of Friday’s close, June was at 178.575 while August was at 176.775.
In addition, fall Feeder Cattle futures were in the mid 240’s just two weeks ago while they closed Friday in the lower 260’s. Live sales of negotiated cash fed cattle trade in the Southern Plains sold steady at 182.00.
In Nebraska, live sales sold 1.00 to 2.00 higher at 184.00 to 185.00, while the dressed sales sold 1.00 to 3.00 higher 294.00 to 295.00.
Choice boxed beef closed the week 1.47 higher at 297.14 while Select was 2.11 lower at 288.72 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 613K, 7K less than last week and 14K less than a year ago. Auction volume this week included 56 percent weighing over 600 lbs and 45% heifers.
