National Feeder & Stocker Cattle summary for week ending Friday.
Receipts: Auctions Direct Video/Internet Total
This Week: 204,800 51,200 1,800 257,800
Last Week: 171,000 75,200 34,600 280,800
Year Ago: 130,300 45,300 1,000 176,600.
Compared to last week, steers and heifers sold steady to 4.00 higher.
Demand was moderate to good this week with the larger auctions in the Southern Plains having many offerings weighing over 800 lbs coming off rye or wheat.
Those calves and lighter yearlings that are suitable for grass were met with good to very good demand.
Seller interest has improved as feeder prices slowly start to rise and more buyers are coming out to the auction.
Auction receipts were heavy again in the wheat and rye grazing areas in the Southern Plains, with the two Oklahoma City-area auctions having more than 24,000 on hand while Winter Livestock in Pratt, Kansas, had more than 6,000 on offer.
Current CME Feeder Cattle Index prices have been on the rise this week for feeder cattle with index volume varying greatly.
The CME Live Cattle futures were incrementally lower on the week, while the front month May Feeder Cattle Futures was higher on the week, the deferred contracts were more than 2.00 lower.
Friday morning’s Choice boxed beef value was 33.45 lower than last Friday’s close, while Select cuts were 43.00 lower.
Estimated Cattle Slaughter under Federal Inspection continues to increase from a record non-holiday week low (439,000) just a few weeks ago.
Estimated slaughter under federal inspection this week was reported at a 555,000, 56,000 more than last week, and 92,000 less than last year.
Weekly Hog slaughter was estimated at 210,300 this week; 32,000 more than last week, and 180,000 less than a year ago.
Year-to-date Cattle Slaughter is 6.9% (around 900,000 head) less than the previous year and hog slaughter is 1.1% less (around 550,000 head).
National negotiated purchases the last couple weeks has been around 80,000 head; considerably larger confirmed head counts of less than 30,000 for three weeks in April 2020.
Corn planting progress was reported at 80% complete, 14% more than a week ago and 9% ahead of the five-year average.
Total red meat supplies in freezers were down 1% from the previous month but up 5% from last year.
Total pounds of beef in freezers were down 2% from the previous month but up 14% from last year.
Cattle on Feed Report released today had On Feed at 95%; Placements at 78% and Marketings at 76%.
Placements were the second lowest for April since the series began in 1996.
April Marketings are the lowest since the series began in 1996.
Auction volume this week included 58% weighing over 600 lbs and 41% heifers.