Slaughter Cattle
Weekly Review
Oklahoma City, Okla.
June 6,2003
Report Supplied By USDA
NATIONAL SLAUGHTER CATTLE
SUMMARY - Week Ending June 6:
Slaughter cattle live basis steady, dressed
basis steady to 1.00 lower. Extremely
large packer margins caused cattle feed
ers to price cattle well over the 80.00
mark at the outset of this trading week.
Packers resisted higher prices early and
were able to obtain cattle by Thursday at
steady money due to leveling out of the
run away beef market and sharp decline
in futures market. Cattle feeders have
little resolve to require more money de
LIVESTOCK FUTURES MARKET
Chicago Mercantile Exchange
Wednesday, June 11,2003
Live Hogs Frozen
Choice Steers Choice Feeders Lean Value Pork Bellies
Today WkAgo Today WkAgo Today WkAgo Today WkAgo
Jno3 74.125 75.950 66.075 65.925 -
JlO3 70.000 72.425 66.250 68.325 89.500 93.450
Auo3 68.250 70.775 84.050 86.100 66.575 68.975 87.475 91 375
SO3 68.600 84.550 86.475
003 69.100 71.225 84.550 86.450 57.500 58.875
NO3 84.775 86.775
DO3 72.475 74.150 54.350 55.175
JO4 - 83.125 85.275 77.000 78.300
FO4 73.825 74.300 57.300 58.600
Mr 04 - 82.800 84.000 77.100 78.750
Apo4 74.700 76.150 82.900 84.000 58.200 59.750
My 01 60.700 62.275 -
Jno4 68.700 70.000 62.700 64.325
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spite huge packer profits. The looming
border situation and heavy placements
leave little room to back up cattle now.
Feeders and packers alike know that cat
tle movement must continue at the fast
pace established last February in order to
avoid a build up of supply this summer
and fall. So long as slaughter cattle are
making a decent profit packers should
enjoy strong margins with little resistance
by sellers. Boxed beef prices Friday a.m.
at an average of 140.14 down 93 cents
from last Friday. Sales of slaughter cattle
on a national basis for negotiated cash
trades were a modest 180,500 through
10:00 a.m. Friday with trade not under
way until Thursday. Last week’s full
count was large due to light movement
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prior to the holiday week and totaled
317,200 head.
STEERS AND HEIFERS;
MIDWEST DIRECT MARKETS: Live
Basis: 35-80 percent Choice, 900-1400 lbs
79.00- wtd avg 79.85. Dressed Basis:
35-80 percent Choice, 550-950 lbs.
125.00- wtd avg 127.50.
HIGH PLAINS DIRECT MARKETS:
Live Basis: 35-65 percent Choice,
900-1400 lbs 78.00-80.50, wtd avg 79.90.
SLAUGHTER COWS AND BULLS
(Average Yielding); Slaughter cows and
bulls weak to 4.00 lower. Fall calvers are
weaning calves and shipping culls. Mar
ket continues strong though increased
supply tempering prices. USDA’s Cutter
cow carcass cut-out value closed Thurs
day at 92.69 down 6.48 from last Friday.
COWS: Breakers 75-80% lean
1000-1600 lbs: Montana 44.00-46.50; Ok
lahoma 42.00-45.00; Alabama
44.00- Boners 80-85% lean 900-1500
lbs; Montana 41.50-45.00; Oklahoma
42.50-45.50; Alabama 43.00-46.00. Lean
85-90% lean 850-1400 lbs; Montana
38.00- Oklahoma 40.50-44.00; Ala
bama 38.00-40.00.
BULLS: 88-92% lean 1500-2200 lbs:
Montana 47.50-52.50; Oklahoma
52.00-55.00; Alabama 52.00-58.00.
Midwest Daily
Livestock Summary
Amarillo, Texas
June 11,2003
Report Supplied By USDA
Five area direct slaughter cattle:
slaughter steers and heifers on a live basis
2.00 lower at 78.00, on a dressed basis
3.00 to mostly 4.00 lower at 124.00.
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STEERS: LIVE BASIS: 65-80% Choice
76.00- wtd. avg. price 77.64; 35-65%
Choice 75.00-78.00, wtd. avg. price 77.73.
DRESSED BASIS: Over 80% Choice
123.00- wtd. avg. price 123.49;
65-80% Choice: 120.00-124.00, wtd. avg.
price 123.43; 35-65% Choice
121.00- wtd. avg. price 123.51.
HEIFERS: LIVE BASIS: Over 80%
Choice 76.50- 78.50, wtd. avg. price 77.64;
65-80% Choice 77.00-78.00, wtd. avg.
price 77.72; 35-65% Choice 77.00-78.00,
wtd. avg. price 77.80. DRESSED BASIS;
Over 80% Choice 120.00-124.00, wtd. avg.
price 123.03; 65-80% Choice
120.00- wtd. avg. price 123.11;
35-65% Choice 121.00-124.00, wtd. avg.
price 123.40.
At So. St. Paul terminal market,
slaughter steers and heifers sold mostly
steady on a limited test. Steers: Select and
Choice 2-3 1189-1425 lbs 74.00-75.50. Se
lect 1-2 1155-1433 lbs 71.00-73.25. Heif
ers: Select and Choice 2-3 1261-1290 lbs
74.00-74.75. Select 1-2 1098-1361 lbs
72.50-73.00.
At Sioux Falls terminal market, slaugh
ter steers and heifers 1.00-2.00 lower, in
stances 3.00 lower. Steers: Choice 2-3
1282-1308 lbs 77.00-77.70. High Select
and Choice 2-3 1231-1311 lbs 75.10-76.20.
Select and Choice 2-3 1189-1389
74.20-75.50. Heifers; Choice 2-3
1094-1270 lbs 74.50-76.80. Select and
Choice 2-3 1150-1199 lbs 74.50-74.70.
Estimated daily cattle slaughter under
federal inspection week to date through
Wednesday was 405,000 head compared
to 407,000 last week and 397,000 a year
ago.
CME Futures Closes for Live Cattle:
June 74.12, down 110; Jul 70.00, down
150; Aug. 68.25, down 150.
Slaughter cows at South St. Paul sold
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Lancaster Farming, Saturday, June 14, 2003-A27
steady. Premium White 70-75 percent
lean over 1200 lbs 48.00-51.00. Breakers
70-80 percent lean over 1100 lbs
4d.00-49.50. Boners 80-85 percent lean
over 1050 lbs 44.00-47.00. Lean 85-90 per
cent lean over 850 lbs 40.00-44.00.
Barrows and gilts at So. St. Paul, MN
sold 2.00 lower with 220-270 lb 47-51%
lean hogs moving at 44.50-45.50, and at
Sioux Falls, SD the same classes sold 1.50
to mostly 2.25 lower at 46.00-47.00, vol
ume 46.00. The National direct trade
prices are based on 185 lbs hog carcass
with 0.9-1.1 inch back fat and 6 inch
square loin/2.0 inch depth plant delivered.
National direct trade closed weak to .50
lower with prices ranging 56.75-67.60,
wtd. avg. price 64.87. lowa-So. Minnesota
direct trade closed steady at 56.75-67.50,
wtd. avg. price 65.28. The Western Corn
belt closed .50 lower with prices ranging
56.75-67.60, wtd. avg. price 65.05. The
Eastern Cornbelt prices were .50 higher
ranging from 57.00-66.75, wtd. avg. price
64.49.
Hog slaughter under federal inspection
week to date through Wednesday
1,103,000 head compared to 1,093,000 a
week ago and 1,086,000 a year ago actual
slaughter.
CME Future Closes for Lean Hogs: Jun
66.07, down 140; Jul 66.25, down 200;
Aug 66.57, down 200.
Slaughter lambs traded steady at So.
St. Paul, MN. Slaughter Lambs: New
Crop: Spring: 110-130 lbs 106.00-108.00.
Shorn: Old Crop: 120-140 lbs 104.00-
106.00. Wooled: Old Crop: 120-140 lbs
100.00-102.00.
Sheep and lamb slaughter under feder
al inspection week to date slaughter
through Wednesday estimated at 34,000
head compared to 36,000 a week ago and
same day actual slaughtered 33,000 a
year ago.
National Feeder Cattle
Weekly Review
St. Joseph, Mo.
Friday, June 6,2003
Report Supplied By USDA
NATIONAL FEEDER & STOCKER CATTLE SUM
MARY - Week Ending June 6 Total Receipts: 331,900, last
week 277,100; last year 280,400. Direct; 97,800, last week
83.300, last year 57,800. Video/Internet: 1,000, last week
31.300, last year None. Auctions: 233,100, last week 162,500,
last year 222,600 This week’s reported auction volume in
cluded 48 percent over 600 lb and 44 percent heifers. Com
pared to last week, feeder and Stocker cattle sold firm to 3.00
higher on heavier receipts and very good demand Several
auction markets quoted price trends as much as 6.00 higher,
but many of these salebarns were either closed last week for
the holiday or had very light receipts. After sparking last
week in Kansas and Oklahoma, direct trading for late-sum
mer and early-fall delivery turned very active in Texas as the
Panhandle area finally received some moisture. Several
weeks ago, we were all under the assumption that both mar
ket-ready slaughter cattle and yearling feeders were in short
supply. Its funny how numbers come out of the woodwork
when the price gets right.
Good old supply and demand has allowed packers to pur
chase huge numbers of semi-fat cattle for the last several
weeks, and feeder cattle receipts continue to run much larger
than year ago figures. Slaughter cattle prices are entering the
summer months at a higher level than anytime in history,
causing feedlot buyers to become extremely aggressive to fill
empty pens and sellers are taking advantage of the hot mar
ket.
Who says the packer, feeder, backgrounder, and cow/calf
man can’t all be happy at the same time? For once, these four
cowboys can travel to the rodeo in the same pickup. There
has been a legitimate chance for a 100.00 per head profit at
every level for the same steer. It makes these guys wonder
where all the gravy has been going for the last several years.
In any event, beef continues to fly off the shelves and there is
still a line to get in the Outback Steakhouse. No one wants to
upset the apple cart and the entire industry holds their breath
when the word Canada is spoken. For now, this weeks esti
mated cattle slaughter was the largest in a quarter century
and cattle still brought 80.00. Wheat harvest is underway and
this years corn looks to be a bumper crop.
Eastern Combelt Direct
Feeder Cattle Weekly
Springfield, 111.
June 6,2003
Report Supplied By USDA
Eastern Combelt Direct Feeder Cattle Summary Illinois,
Indiana, Michigan, and Ohio: Feeder cattle were 4.00-7.00
higher compared to last week’s light market test. Stronger
slaughter cattle prices, the continued ban on Canadian cattle
imparts due to the confirmed case of BSE and tight supplies
of cattle in some areas combined to support the market. Re
ported sales consisted of about 30% beef steers, 70% heifers
and 0% Holstein steers. Approximately 74% of the cattle
marketed this week weighed over 600 lbs. Confirmed sales
1550 this week, 750 last week and 450 last year.
FEEDER STEERS; Medium and Large 1-2: 425-550 lbs
103.00-108.00; 725-875 lbs 84.00-85.00.
HOLSTEIN STEERS: Medium and Large 3-4: no test.
FEEDER HEIFERS: Medium and Large 1-2: 550-575 lbs
91.50-92.00; 575-700 lbs 80.00-85.00; 700-800 lbs 77.00-82.00;
800-850 Ihs 80.00-82.75.
Prices are based FOB the farm unless otherwise indicated.
Delivered prices include freight, commissions, and other