NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 05/04/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 145,300 42,000 57,100 244,400
Last Week: 165,000 68,200 11,300 244,500
Year Ago: 165,900 73,000 26,800 265,700
Compared to last week, steers and heifers sold uneven; 3.00 lower to 3.00 higher. The supply of feeders was moderate with a good selection across all weight groups once again this week.
Demand was moderate to good for calves, feeders, and pairs. With springtime moisture arriving across most areas of the country, it appears summer grass will be good, and some cattlemen have opted to purchase pairs for summer grazing. Reporters were also taking note if quality feeder cattle were present, buyers were starting to overlook a lack of weaning on the calves.
The rains have also halted most springtime plantings especially on the heavier soils. All moisture has been welcomed and farmers and ranchers are thankful but would like to have some sun and be able to get back to normal springtime work.
There has been pressure on the feeder market this week from the volatility in the CME Cattle Complex. Cattle feeders are much more cautious in their approach to the feeder market, than the backgrounders are, as the Live Cattle contracts continue to disappoint. The front five Live Cattle contracts were 1.900 to 2.550 lower for the week, while the front five Feeder Cattle contracts were 5.250 to 5.800 lower in the same period. They gave back a significant portion of the previous week’s gains.
Live sales of negotiated cash fed cattle trade in the Southern Plains sold 2.00 higher at 184.00. In Nebraska, live sales sold 2.00 higher at 186.00 to 187.00, while the dressed sales sold steady at 294.00 to 295.00.
Choice boxed beef closed the week 2.94 lower at 294.20 while Select was 1.07 lower at 287.65 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 619K, 6K more than last week and 2K less than a year ago.
Auction volume this week included 53% weighing over 600 lbs and 44% heifers.
