NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 07/20/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 111,300 49,800 25,700 186,800
Last Week: 162,100 49,100 450,100 661,300
Year Ago: 121,500 37,900 9,900 169,300
Compared to last week, steers and heifers sold mostly steady to 5.00 lower, but there were some exceptions to that which trended firm to higher.
The week started off with extreme heat and auction receipts were very light which is not unusual in mid- July. However, later in the week much cooler weather arrived and some areas saw heavy rains and localized flash flooding which also prevented some movement. Many barns encouraged producers to hold off marketing until this week as the weather is predicted to be more favorable for transporting livestock.
Noted in the calf market this week was that limited supply had buyers becoming a bit less finicky about weaning status but were still demanding some rounds of shots before they dug very deep in the pocketbook.
The monthly Cattle on Feed Report was released on Friday with all three categories falling right into pre-report expectations and should be viewed as a mostly neutral report.
Many are hoping for some bounce this week in feedlot trade, beef cutouts, and cattle futures, however that was not reality this week.
The fall CME Feeder Cattle futures were 1.625 to 2.325 lower for the week, while front month August was 3.050 lower for the same period. Live sales of negotiated cash fed cattle trade in Texas sold steady to 0.50 higher at 188.00 to 188.50.
Live sales in Kansas sold steady to 1.00 lower at 187.00 to 188.00. In Nebraska, live sales sold mostly 2.00 lower at 196.00, while the dressed sales sold mostly 2.00 lower at 310.00.
Choice boxed beef closed the week 8.23 lower at 313.83 while Select was 3.51 lower at 298.80 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 584K, 17K less than last week and 42K less than a year ago.
Year to Date Cattle Slaughter is currently 821K less than a year ago.
Auction volume this week included 48% weighing over 600 lbs and 41% heifers.
