NATIONAL FEEDER & STOCKER CATTLE SUMMARY – WEEK ENDING 12/21/2024
By USDA-MO Dept of Ag Market News
RECEIPTS: Auctions Direct Video/Internet Total
This Week: 202,400 19,100 21,500 243,000
Last Week: 286,300 27,800 5,700 319,800
Year Ago: 103,100 36,300 1,300 140,700
Compared to last week, steers and heifers sold mixed; 2.00 lower to 2.00 higher. A lighter offering at most barns this week as business begin to slow prior to the holidays however demand was reported as mostly good at livestock auctions this week.
This was the last chance for many to buy cattle before the end of the year as most auction markets won’t host another large feeder cattle sale until after the New Year. Price levels continue to be at or very near record highs as the marketing year of 2024 comes to a close. Winter officially arrived as an Alberta Clipper moved its way into the Northern Plains and headed east, dropping some snow in its path and bone chilling temps.
Prior to this, an overall mild Fall everyone is currently setting on good supplies of feed to start off the new year in good shape for when harsher weather arrives as some point. As the country puts the Winter Solstice in the rearview, the monthly Cattle on Feed Report was released Friday with no surprises as all three categories were right in line with pre-report expectations.
The Year-to- Date Auction feeder cattle receipts on this report is 9.1695 million head while last year’s volume was 9.4243 million head: right at 250K head less marketed in 2024 at reported auctions. The On-feed number was posted at 100 pct; Placements at 96 pct and Marketings at 99 pct of a year ago.
For the week, the CME Cattle Complex did not follow the cash indices again. As most auction and cash markets were steady to higher, the December and February Live Cattle contracts were 2.325 and 3.625 lower for the week. The front four months of Feeder Cattle contracts were 1.75 to 2.05 lower on the week.
Light sales of fed cattle in the Plains this week as two consecutive weeks of major holidays will limit how many packers can get harvested the next two weeks.
Negotiated sales of slaughter steers and heifers in the Southern Plains sold steady to 1.00 lower 191.00. In Nebraska, sales were steady to 0.50 higher at 195.00 to 195.50, while dressed sales sold steady to 5.00 higher at 305.00. Boxed beef cutouts were mixed for the week as Choice closed on Friday at 315.85, down 0.54 and Select closed at 285.91, up 2.05 compared to last Friday.
Weekly Cattle Slaughter under federal inspection estimated at 617K, 8K more than last week and 4K less than a year ago.
Auction volume this week included 44% weighing over 600 lbs and 41% heifers.
This will be the last National Feeder Cattle Summary of 2024 and all of us here at the USDA-AMS-LPGMN Market News program wish you and yours a Merry Christmas and Happy New Year.
