NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 01/11/2025

By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct
Video/Internet Total
This Week: 235,200 40,800 111,600 387,600
Last Week: 99,500 7,400
4,200 111,100
Year Ago: 241,700 29,500
164,000 435,200
Compared to last week, steers sold 4.00 to 10.00 higher and heifers sold 1.00 to 6.00 higher on good to very good demand nationwide.
Buyers were eager to get back in the seats, especially in the Southeast as the markets in that area had been closed for two full weeks.
With the feeder cattle market very strong right now, many producers are pulling cattle ahead of their normal marketing time. Some cattlemen are flipping previous purchases and making a substantial profit on calves they purchased last summer/fall and reselling now. In late August 2024, the January Feeder Cattle futures contract was in the upper 220’s and with Friday’s close of 272.35, that contract has gained nearly 45.00 since then. For reference in the same period last year, the January FC contract was nearly 30.00 lower.
Futures and cash feeder cattle markets have not been acting “normally” this year. Typically, there is a drop-off from mid-September to late November as buyers don’t have short-weaned or unweaned calves on the top of their list to purchase. This past fall, it didn’t matter … the market just continued to run higher. Between Winter Storm Blair last Sunday and another winter storm on Thursday into Friday blew through and encompassed most of the southern tier of the nation.
Dallas and Atlanta received snowfall and many ranchers in those areas are certainly not used to that type of weather. The ground was certainly warm enough in many areas to ward off long term effects of the snowfall. Arkansas seemed to be the one most hit with 8 to 12 inches of snow reported.
The cash fed cattle market is on fire these past couple weeks and was higher again setting record highs, leaving the CME Live Cattle futures contracts around 4.00 under the cash in the Northern Plains and 1.00 to 2.00 under in the Southern Plains.
Negotiated sales of slaughter steers and heifers in the Southern Plains sold 3.00 to 4.00 higher at 200.00, with a few up to 202.00. In Nebraska, live sales were 3.00 higher at 203.00, while dressed sales sold 5.00 higher at 320.00.
Choice Boxed beef is at its highest level since June 2023, with only 18.70 Choice-Select spread. In June 2023, the spread was over 30.00. For the week, Choice Boxed beef closed on Friday at 332.84, 7.60 higher and Select closed at 314.14, 17.42 higher.
Weekly Cattle Slaughter under federal inspection estimated at 589K, 83K more than last week and 44K less than a year ago. A year ago, a snowstorm blew through the country and shuttered auction markets and reduced harvest at many cattle plants.
Auction volume this week included 55% weighing over 600 lbs and 40% heifers