NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 11/16/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 235,700 20,200 5,000 260,900
Last Week: 201,000 24,100 33,300 258,400
Year Ago: 279,000 30,300 34,500 343,800
Compared to last week, Feeder Steers sold 3.00 to 9.00 higher with the exception of 400 lbs steers in the Southeast region selling 15.00 higher. Feeder Heifers sold 2.00 lower to 6.00 higher.
Demand was moderate to good. Moisture and precipitation over the last couple of weeks have really improved moods. In Missouri buyers are wanting calves that can go straight out to pasture without having to worry about holding them for a couple of weeks and playing vet dealing with health concerns.
The 2024 Ag Lender Survey Report which is produced jointly by the American Bankers Association and Farmer Mac had a few key take aways that they believe 58% of farmer borrowers will be profitable for 2024 which is down 78% from the previous report. This is a signal of growing concern among lending institutions in the upcoming year for loan deterioration and credit quality.
Live sales of negotiated cash fed cattle trade in the South Plains sold 2.00 lower at 185.00. In Nebraska, live sales sold 1.00 to 2.00 lower at 185.00, while the dressed sales sold 4.00 lower 290.00.
Choice boxed beef closed the week 4.59 lower at 303.34 while Select was 3.05 lower at 276.14 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 606K, 13K less than last week and 33K less than a year ago.
Auction volume this week included 37% weighing over 600 lbs and 39% heifers.
