National Feeder Cattle Report:  Great week for cash trade;  Midwest derecho

Compared to last week, steers and heifers sold uneven, 1.00 lower to 3.00 higher.  Many of the receipts in the Northern Plains are coming off summer grass with the yearlings in excellent condition reported.  Buyers are looking for those cattle to perform very well in the feedlot with compensatory gains on the front end appearing to be very good.  

A wide range of weather patterns have moved across the US in recent times and this week, an inland hurricane came close in proximity to a D3 drought designation in Iowa.  

Some of those in the western part of Iowa are recalling the summer of 2012 and how bad it was then.  Producer anecdotes of year-to-date rainfall being 2 inches of moisture shorter than 2012 gives this year even more perspective for them.  

A derecho swept across the Midwest early this week and left a path of destruction in its wake.  Grain bins, elevator legs, power poles, power lines and millions of acres of affected corn and soybeans were not able to withstand 100 plus mph winds.  

Grain traders saw an increase in value on the Board this week even though the latest WASDE report showed an increase in average yield for both corn and soybeans.  

Negotiated cash fed cattle trade was 4.00 higher in the Southern Plains at 104.00 live, while dressed sales in Nebraska are 2.00 to 7.00 higher for the week at 165.00 to 170.00.  

This morning’s Choice boxed beef was reported at 214.04, 8.57 higher than last Friday’s close.  Select cutout was reported at 199.24, 6.49 higher than last Friday’s close.  

Estimated slaughter under federal inspection this week was reported at a 640K, 7k more than last week, and 13K less than last year.  

Auction volume this week included 57 percent weighing over 600 lbs and 42 percent heifers.

Sources/ Links


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Rob Cook, RobCookKC@Gmail.com