NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 11/02/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 284,100 25,900 6,200 316,200
Last Week: 273,400 34,900 2,900 311,200
Year Ago: 236,500 31,000 32,000 299,500
Compared to last week, steers and heifers in the North and South-Central regions sold 1.00 lower to 4.00 higher, while the Southeast region was steady to 2.00 lower. Demand was moderate to good nationwide as the country is in the heart of the calf run at the present time.
Price levels for feeders and calves in the country have rebounded to late August/early September levels. The calf market as most sectors of the cattle industry found pressure this week and trended lower, however condition and heath programs continue to mean everything and those with weaning and shots still finding some premiums.
The CME Cattle Complex had a tough time getting footing this week as Feeder and Live Cattle futures were mostly 2.50 to 3.25 lower for the week. The best news for producers this week was much needed rains that fell mid to late week and are expected to continue into the upcoming week. Although there has been some frost the wheat crop and even some grasses like the fescue should still see some benefits as temperatures are still plenty warm enough for some growth.
Perhaps even more importantly though is that stock water supplies will see some replenishment. Year-to-Date auction receipts on this report are near 350K behind a year ago.
The state of South Dakota had the most weekly auction receipts for the last four weeks of this report. That’s a testament to the marketing time of year for that state and coupling that with the amount of drought in the state, leaves a substantial number of calves leaving the state in a short amount of time as ranchers are selling bawlers instead of weaning their calf crop for 45-plus days and selling preconditioned calves in December.
Live sales of negotiated cash fed cattle trade in the South Plains sold steady at 190.00. In Nebraska, live sales sold steady to 2.00 lower at 190.00, while the dressed sales sold steady to 2.00 lower at 296.00 to 298.00.
Choice boxed beef closed the week 5.90 lower at 316.34 while Select was 10.05 lower at 285.03 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 615K, 8K less than last week and 21K less than a year ago.
Auction volume this week included 36% weighing over 600 lbs and 40% heifers.
