National Feeder & Stocker Cattle Summary for week ending Friday.
Receipts: Auctions Direct Video/Internet Total
This Week 149,400 59,200 217,200 425,800
Last Week 135,700 77,700 121,100 335,500
Year Ago 158,300 78,700 5,400 242,400.
Compared to last week, steers and heifers sold uneven; 3.00 lower to 3.00 higher.
Receipts this week were somewhat curtailed as summer returned to the heart of the country. Dangerous heat indexes spread from the Southwest to the Northeast and everywhere in between mid- to late week, making it difficult for both man and beast in its aftermath.
The worst problem is the humidity that was brought to the midsection of the country after the pop-up showers and Tropical Storm Barry moved through.
Some rains moved through the Northern Plains, with some ranchers in South Dakota still trying to get their first cutting of hay done.
Farmers and ranchers have been very focused on moisture needed after last year’s momentous drought that encompassed a vast area of grazing acres.
Even though this spring has been extremely wet in places, some areas do need a drink now as heat indexes rise into triple digits.
Feedyards were sure hoping that last week’s uptick in futures would follow through this week, however, negotiated cash fed cattle showed weakness.
The CME Cattle Complex gave back most of the gains of a week ago amid fundamental pressure and the yo-yo of grain futures this time of year.
Negotiated cash fed cattle live trade in the Southern Plains this week was steady to 1.00 lower at 111.00, while Nebraska sales were unevenly steady at 113.00 to 113.50.
Dressed sales in Nebraska were steady at 182.00 to 185.00.
For the week, the Choice cutout closed 0.62 higher lower at 213.42, while Select was 0.09 lower at 189.51.
Cattle Slaughter under federal inspection estimated at 651,000 for the week, 4,000 less than last week and 16,000 more than a year ago.
The July 1 Cattle on Feed released today reported On Feed at 102 percent; Placements at 98 percent and Marketings at 97 percent.
This makes the third month in a row that the On Feed number is the largest since the data series started in 1996.
The inventory included 7.01 million steers and steer calves, down 2 percent from the previous year. This group accounted for 61 percent of the total inventory.
Heifers and heifer calves accounted for 4.47 million head, up 8 percent from 2018.
All cattle and calves in the United States on July 1, 2019 totaled 103 million head, unchanged from the 103 million head on July 1, 2018.
The 2019 calf crop in the United States is expected to be 36.3 million head, down slightly from last year’s calf crop.
Calves born during the first half of 2019 are estimated at 26.5 million head, down slightly from the first half of 2018.
Auction volume this week included 57 percent weighing over 600 lbs and 42 percent heifers.