NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 12/07/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 316,800 17,800 54,800 389,400
Last Week: 63,200 14,500 1,200 78,900
Year Ago: 280,700 29,700 19,100 329,500
Compared to two weeks ago, steer and heifer calves sold 15.00 to 25.00 higher while yearlings were 4.00 to 9.00 higher as there were not enough sales receipts to compare to last week with.
Another upbeat week in the country as demand for cattle out weights the supply currently. Even with a big week at the auctions overall the supply is tight as demand was very good nationwide for cattle to turn out on wheat in the Southern Plains or background in a yard in the Northern Plains.
Grazing calves that come with shots and a few bells and whistles seem to have no top with some of the feather weights are at/near record setting price levels. The aggressiveness of buyers has left audience members in the seats questioning when/where the market will stop with the upturned values of these feeder cattle on offer.
Prices have pushed up to record or very near record highs again for all weights of cattle. Even though the CME Feeder Cattle futures were 3.00 to 4.00 lower on the week, that could not drag the auction prices lower.
As the year winds down a lot of special replacement cow sales around the state offering opportunities for producers to add to the herd. Overall growth of the cow herd is very questionable at this point of the year and more likely numbers are just being maintained as the extremely high feeder prices have not been encouraging for producers to hold and develop heifers over the last year.
Negotiated sales of slaughter steers and heifers in the Southern Plains 1.00 at 191.00. In Nebraska, sales were steady at 190.00 to 192.00, while the light volume of dressed sales sold steady to 3.00 higher at 295.00 to 298.00, mostly 297.00.
Choice boxed beef closed the week 1.52 higher at 312.04 while Select was 2.43 higher at 276.73 for the same period.
Weekly Cattle Slaughter under federal inspection estimated at 614K, 78K less than last week and 24K less than a year ago.
Auction volume this week included 45% weighing over 600 lbs and 41% heifers.
