Feeder Cattle Prices Decline
In Face Of Various Negatives

ST. JOSEPH, Mo. —(USDA)— Short receipts, weak slaughter trade, hot, dry weather, high feed costs, and a bearish cattle on feed report were contributors to last week's declining feeder cattle market nationwide.

Seasonal small sales were reported last week, but there was some forced movement due to heat and dry weather in the Southeast and especially the Southwest. Most of the rest of the country has ample to abundant moisture with row crops, pastures, and hay looking good. Corn prices dropped below $2 per bushel at some country elevators.

Feeder cattle in these areas are in strong hands and producers held on with cheap weight gains, hoping for an improved market. Slaughter steers and heifers were another $1-2 lower, direct trade $59-60 live and $94-95 in the beef.

Boxed beef cutouts moved up $3 to $100.50, so packers have a nice margin to work on and purchased a large volume to get feedlots near current.

Extremely high heat indices of 110-plus are forecast for the five big feeding states over the next several days, and that will set back weight gains and further reduce total beef tonnage. However, the heat wave is moving east and may curtail consumption.

Friday's cattle on feed report was about like the trade expected, with numbers at 102 percent and placements 108 percent, but mid-year inventories at 98 percent indicated more herd liquidation than anticipated.

Cattle weighing more than 600 pounds accounted for 54 percent of the week’s feeder cattle movement.

Some trading:

Texas Panhandle and Western Oklahoma: steers, medium and large No. 1 few 550 lbs. $75, 700-800 lbs. $68-70.50, 800-875 lbs. $67.50-68.75; few 500 lbs. delivered $81.50, few 675 lbs. $73.75, 700-800 lbs. $68-73.75, 800-875 lbs. $67-72.25, few 925 lbs. $69.25; heifers, few 525 lbs. $70, few 675 lbs. $65, 700-775 lbs. $63-68; few 750 lbs. delivered $64.50-65.

Oklahoma: steers, medium and large No. 1 550-575 lbs. $79-80, 600-650 lbs. $74, 740-775 lbs. $68.75-72, 800-875 lbs. $66-71, late sales $66-67; heifers, 570-675 lbs. $66-70, 700-725 lbs. $67.50-69.50, 725-750 lbs. $62-68, late sales $62-65.

Colorado: steers, medium and large No. 1 few loads 825 lbs. $68.50; several loads 825 lbs. delivered $69.50-70.50; heifers, few loads 750 lbs. $67; string 800 lbs. delivered $67.

Kansas: steers, medium and large No. 1 700-750 lbs. $70-72, 800-900 lbs. $66.50-68, couple big strings 950 lbs. $64; 700-800 lbs. delivered $69.25-74, 800-825 lbs. $68.50-69; heifers, few 680 lbs. $68.75, four loads 750 lbs. $67; 500-550 lbs. delivered $66.87-68.52, big string 675 lbs. $68, few 750-760 lbs. $63.89.

Wyoming, Western Nebraska and Western North and South Dakota: steers, medium and large No. 1 925 lbs. $66.50, 930 lbs. $67.50; few 1015 lbs. delivered $60.25; auction, 670-690 lbs. $70.50-71.50; heifers, 820 lbs. delivered $65.25; auction, few 590-610 lbs. $66.25-67, 815 lbs. $65.75.

Washington, Oregon and Idaho: steers, medium and large No. 1 900-925 lbs. $61-63, few 900 lbs. $65; 875 lbs. delivered $65; heifers, 800 lbs. delivered $63.

Arkansas: auction, steers, medium and large No. 1 300-350 lbs. $83-92, 350-400 lbs. $76-86, 400-450 lbs. $71-81, 450-500 lbs. $70-78, 500-550 lbs. $68-76, 550-600 lbs. $66-72, 600-700 lbs. $64-72, 700-800 lbs. $63-70; heifers, 300-350 lbs. $70-78, 350-400 lbs. $68-75, 400-450 lbs. $66-74, 450-500 lbs. $64-71, 500-600 lbs. $63-70, 600-700 lbs. $62-66, 700-800 lbs. $58-64.

Kentucky: auction, steers, medium and large No. 1 200-300 lbs. $82-92, 300-350 lbs. $79-88, 350-400 lbs. $72-82, 400-500 lbs. $71-81, few $83-86.75, 500-600 lbs. $67-77, some $78-82.50, 600-700 lbs. $65-73, few $75-76.30, 700-800 lbs. $64-71.50, 800-900 lbs. $60-67.20; Holsteins, large No. 2 300-400 lbs. $60-67, 400-500 lbs. $56-66.25, 500-600 lbs. $51-60, 600-700 lbs. $48-56.95, 700-900 lbs. $46- 54.80; heifers, 200-300 lbs. $74-81, 300-350 lbs. $71-80, 350-400 lbs. $67-77, 400-500 lbs. $64-73, few $74-76.50, 500-600 lbs. $63-71, some $72-73.25, 600-700 lbs. $60-68, 700-800 lbs. $57-65.80.

Tennessee: auction, steers, medium and large No. 1 300-350 lbs. $76-86, 350-400 lbs. $75-84, 400-450 lbs. $72-79, 450-500 lbs. $70-77, 500-550 lbs. $68-75, 550-600 lbs. $67-73, 600-650 lbs. $66-72, 650-700 lbs. $63-69, 700-800 lbs. $61-67 load 785 lbs. $68.40; heifers, 300-400 lbs. $66-74, 400-500 lbs. $63-69 few to $72, 500-600 lbs. $61-69, 600-700 lbs. $58-65.50, 700-800 lbs. $57-62, load 670 lbs. $67.65, load 700 lbs. $61.

Southeastern complex: auction, steers, medium and large No. 1 200-250 lbs. $90-103, 250-300 lbs. $80-93, 300-350 lbs. $77-89, 350-400 lbs. $76-85, 400-450 lbs. $69-79, 450-500 lbs. $66-76, 500-550 lbs. $64-74, 550-600 lbs. $62-72, 600-650 lbs. $62-69, 650-700 lbs. $60-67, 700-800 lbs. $58-64; heifers, 200-250 lbs. $77-86, 250-300 lbs. $69-79, 300-350 lbs. $68-77, 350-400 lbs. $67-74, 400-450 lbs. $64-72, 450-500 lbs. $58-68, 500-600 lbs. $57-67, 600-650 lbs. $57-64, 650-700 lbs. $55-63.