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ST. JOSEPH, Mo. —(USDA)— Feeder and stocker cattle markets were not well tested this past holiday week as trade was virtually inactive in most areas. News surfaced on December 23 that the first U.S. case of bovine spongiform encephalopathy had been discovered in a dairy cow in Washington state. Since then, fear and uncertainty have clouded the feeder cattle market and brought a halt to both auction and direct marketing. Several sale barns canceled their New Year’s specials, but most markets were already scheduled to be closed until the first full week of 2004. However, prices in the few auctions conducted were not nearly as bad as many observers had feared. Receipts at these few salebarns were a fraction of normal, but attendance was huge as producers crowded the rafters to see what the market would yield. Fed cattle showlists sold at mostly $74 on New Year’s Eve, which was $16-18 lower than the pre-Christmas market. CME live cattle futures experienced a similar nosedive and January feeder cattle contracts fell from $95.22 to close out the year at $78.92. However, cattle futures found bottom-side support and closed higher on Friday, significantly higher for feeder futures. Livestock auctions across the country will resume their regular schedule this week, which will shed some light on much of the uncertainty that darkened the holiday season for cattle producers. The pre-Christmas stocker and feeder summary reported sales mostly steady across the nation, instances $1-2 lower on light receipts. Most of the weakness was posted on heavy calves and lighter yearlings weighing from 600 to 750 pounds, each of which need to go straight to the feedlot but will not finish before summer. Some firmness was noted on heavy yearlings that will be done in early spring and flyweight calves that have plenty of marketing options. Southeastern auction market receipts were extremely light and demand was spotty as some order buyers scrambled early in the week to put loads together and other shippers didn't even want to take the chance and end up holding stale cattle over the holidays. Receipts were heavier in the Plains and Midwest as weather conditions improved and some producers wanted to sell before most auctions took a two-week hiatus. Sellers were either hitting a good weather window or moving cattle off short, dry wheat. Most industry members were already on the edges of their seats pre-BSE for the cattle on feed report. On-feed numbers were within expectations, but placement and marketing figures were bullish. As expected, lightweight cattle made up a larger share of on-feed numbers than usual with weights under 600 pounds 15 percent more than last year; heavier weight groups were all roughly 7-10 percent larger. Placements were slightly lighter than expected with 97 percent of last year's total being put on feed in November and 89 percent of 2002's numbers sold in November, which was significantly higher than most analysts had projected. Offerings weighing more than 600 pounds made up 46 percent of last week’s extremely light reported volume, and 48 percent were heifers. Auction receipts totaled 2400 head, the previous week was a holiday, and last year’s total was 29,300. Missouri 1200 head. Steers: medium and large No. 1 few 400-450 lbs. $100.32, 500-550 lbs. $93.40, 600-650 lbs. $88.13, 650-700 lbs. $81.93; medium and large No. 1-2 400-450 lbs. $98.80, 500-550 lbs. $87.15, 650-700 lbs. $84.01; heifers, medium and large No. 1 few 450-500 lbs. $86.21, package 500 lbs. $84, 550-600 lbs. $82.78; medium and large No. 1-2 few 350-400 lbs. $92.25, 485 lbs. $85.25, 550-600 lbs. $81.20, 650-700 lbs. $78.05, 700-750 lbs. $77.66. Iowa 400 head. Steers, medium and large No. 1 400-450 lbs. $104. Dakotas 800 head. Steers, medium and large No. 1 480 lbs. $106.75, 500-550 lbs. $104.43l 550-600 lbs. $97.15, 600-650 lbs. $97.98, 650-700 lbs. $86.84, 700-750 lbs. $83.44, 750-800 lbs. $81.86, package 800 lbs. $80.50; medium and large No. 1-2 575 lbs. $95.25, 650-700 lbs. $82.92; heifers, medium and large No. 1 550-600 lbs. $90.89, 600-650 lbs. $88.51, 650-700 lbs. $83.92, medium and large No. 1-2 450-500 lbs. $96.62. Direct receipts totaled 9100 head, last year 34,200. Texas 3300 head. Steers, medium and large No. 1-2 500-600 lbs. delivered $92, 700-800 lbs. $83-85; 800-850 lbs. for April delivery $76.60; heifers, medium and large No. 1-2 500-550 lbs. delivered $90-91. Southwest 5500 head. Steers, Holsteins, large No. 3 275 lbs. $118-140, February through March $129-140, March through April $140-145, 300 lbs. $118-132. Northwest 300 head. Steers, medium and large No. 1-2 860 lbs. $94; heifers, medium and large No. 1-2 800 lbs. $91. |
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