A26-Lancaster Farming, 1- Saturday,' November I,' S’OOS' National Feeder Cattle Weekly Review St. Joseph, Mo. October 24,2003 Report Supplied By USDA NATIONAL FEEDER & STOCKER CATTLE SUMMARY - Week Ending Oct 24 Total Receipts 516,900; last week 461,000, last year 445,800 Direct 46,400; last week 60,500. last year 68,200. Video/Intemet* 3*,100, last week 17,100, last year 17,100 Auctions* 436,500, last week 384,300, last year 360,500 This week's auction vol ume was predominantly calves with only 25 percent weighing over 600 lbs and 45 percent heifers. Compared to last week, alt classes of feeder cattle and calves sold 2 00-7 00 lower with many instances as much as 10 00 lower. Trends were very consistent and declines were just as sharp in the Southeast as they were m the Northern and Southern Plains Calf prices com pletely took-back last week's advances and yearlings showed their first sign of weakness in over five months. Direct trade was very light, again this week, but auction receipts were huge as many producers were evidently waiting with their trailers hooked-up for the first sign that the market's topped out Feedlots in the five major feeding areas sold over 120,000 head of cattle 10 00-15.00 lower with the Southern Plains trading from 00-98 00 and the Northern Plains settling from 100.00-102 50. If market-ready supplies are as tight as advertised, whv would cattle feeders accept such sharply lower bids' A fine example of one of the numerous rules of thumb m the cattle industry, “The rnone) will run out long before the cattle do " The CME Live Cattle Futures bounced between hmit-up and limit down this week, a continuation of the shock the market underwent when the daily limit was increased on October 15th It appears that the record-high prices are over and we’ll all get to tell our grandchil dren about the autumn of 2003. Sir Isaac Newton told us this would happen, but fundamentals remain strong and the futures ended the week up the limit which could mean this week was merely a hick-up or correction. Feeder demand should receive a boost in the coming weeks as har \est is starting to wind down and many farmer-feeders prefer to buy new cattle after the First hard frost. Many Southern Plains back grounders are already grazing lush wheat pastures, but forecasters are calling for a sharp weather change from this week’s 90 degree days down to highs in the 40’s for early next week. This may chal lenge caretakers roping skills on calves that were rushed through pre conditioning to take advantage of early grazing. A 50 degree weather swing would almost be fitting for this volatile cattle market. Slaughter Cattle Weekly Review Oklahoma City, Okla. October 24,2003 Report Supplied By USDA NATIONAL SLAUGHTER CATTLE SUMMARY - Week Ending October 24 - Compared to last week: Initial cash trades of slaughter cattle 12.00 lower but this improving in late trade to 10.00 lower. Dressed basis sales some 20.00-22.00 lower. Demand good but light kills the past several weeks have increased the numbeis of marketable cattle somewhat. Retailers are taking a wait-and-see posture. Packers and feeders are working toward a common cash market, after last weeks astounding sellers market, as pure negotiation is alive and well. Last week the market was driven by forward contracted beef sales that came due and the lifting of hedges drove the cash and futures market up. With those beef contracts fulfilled packers have returned to the spot beef market and are dealing accordingly. Boxed beef val ues Friday am. averaged 169.08 down 20.45 from last Friday. Sales of slaughter cattle on a national basis for negotiated cash trades so far are light at 120,300 head through 10:00 am. Friday. Last week’s full count was 205,800 head. MIDWEST DIRECT MARKETS: Steers and Heifers: Live Basis: 35-80 percent Choice, 900-1400 lbs 96.50-103.00, wtd avg 101.50. Dressed Basis; 35-80 percent Choice, SSO-9SO lbs 155.00-162.00, wtd avg 159.00. HIGH PLAINS DIRECT MARKETS: Steers and Heifers; Live Basis; 35-65 percent Choice, 900-1400 lbs 94.00-98.00, wtd avg 96.40. SLAUGHTER COWS AND BULLS (Average Yielding Prices): Slaughter cows steady to 1.50 lower. Slaughter bulls unevenly steady. USDA’s Cutter cow carcass cut-out value closed Thursday at 103.38 down 3.74 from last Thursday. COWS: Breakers 75-80% lean 1000-1600 lbs: Colorado 52.00- Oklahoma 48.50-52.00;Alabama 46.00-49.00. Boners 80-85% lean 1000-1500 lbs: Colorado SI.SO-SS.OOiOklahoma 46.50-50.00; Alabama 44.00-47.00. Lean 85-90% lean 950-1400 lbs;Colorado 47.50-51.00 Oklahoma 45.00-47.50; Alabama 40.00- BULLS; 88-92% lean 1500-2200 lbs: Colorado 59.00-63.50; Oklaho ma SS.OO-60.00; Alabama 54.00-58.00. CAP $3.50* Available At Lancaster Farming, 1 East Main St., Ephrata, PA PLUS Shipping & Handling $2.50 Add’t Cap and Shipping @ $4.00 Each Phone 717-626-1164 Des Moines. 1A October 28,2003 Report Supplied By USDA USDA Carlot Meat 4.00 Summary: Compared to Previ ous Day, Prices in Dollars per hundredweight, Equated to FOB Omaha Basis BOXED BEEF CUTOUTS* Boxed beef sharply lower on moderate demand and moderate to heavy offerings Choice and Select rib and chuck cuts lower, while round and loin cuts sharply tower. Beef trimmings weak on light demand and moderate offerings Estimated composite cutout value of Choice 1-3, 600-750 lbs carcasses down 2 80 at 173 95, 750-900 lbs PAUL B. m 8-Oz Fuel PWHB 4 ' pki Alkaline Copper Wet Jet Starter Kit « Stabilizer Top C Batteries Quickly and easily cleans even araoiizer • pnLrv uses the dirtiest floors t AAB g Keeps fuel fresh for quick /0Q22724) 2® starts after storage and all MMM| Flashlights, toys, photo, (0922/24) M year round (1118) calculators, pagers and WKtKtfX aHWP’TMMMMi sq»q ■!, *e« mm EH check of system (0914) I STA-BIL‘ DURACELL W MNI4OOB4 / Folding Two-Step HIE* jkj \ Step Stool Wrap ‘N Craft Storage n W ° ,m Container \ Four skid-resistant foot For hobbies, crafts, gift $4 496 pads wrapping or collectibles I I (R 4209) 94 499 (R 2159) 1 ' 11 &r iCE,eCtriC 7-1/4-ln. 15 Amp (4AQ9B 10-In. Miter Saw Circular Saw I 13 amp, 120 volts. Provides plenty of SST ught , pow|r for tough jobs. 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ZIMMERMAN, INC. 717-738-7350 50 Woodcorner Rd., Lititz, PA 17543 Hours: Mon., Thurs., Fri. 7 a.m.-8:30 p.m.; 1 Mile West of Ephrata Tues. & Wed. 7 a.m.-5:30 p.m.; Sat. 7 a.m.-4 p.m. National Carlo! Meat Report 811111 KIDDE *5 16 532835 down 3.50 at 170.37; Select 1-3, 600-750 lbs down 4 30 at 147 93, 750-900 lbs dpwn 5 22 at 148.26, based on 81.18 loads of Choice cuts, 171 16 loads of Select cuts, 11.16 loads 'of trimmings, and 48 69 loads of coarse ground trimmings. Estimated carcass price equivalent value of Choice 1-3, 600-750 lbs down 1.78 at 160.97, 750-900 lbs down 2.26 at 158.55; Select 1-3, 600-750 lbs down 2.47 at 136 38. 750-900 lbs down 2.99 at 136 57. Current index reflects the equivalent of 228,843 head of cattle. NATIONAL 5 DAY-ROLLING CUTTER COW CUT OUT The Cutter cow carcass gross cutout value was esti mated at 102.85, down .47. By-Product Drop Value. Hide and offal from a typical slaughter steer was estimated at 9.75, up 02 NATIONAL CARLOT PORK* Sales reported on 82.0 loads of pork cuts and 35 0 loads of trim/process pork f » Li -"-•V ■K I Compared to Monday's close; Fresh loins stead); butts 1.00-200 lower; sknd hams mostly steady; sdls bellies not tested; lean trimmings 1.00-3 00 lower. Trading slow to moderate, with light to moderate demand and moderate to heavy offerings Calculations for a 185 lb Pork Carcass 51-52 percent lean 0.80” -0.99” back fat at last rib 55.87, up .37 Loins bone in fresh 'A inch -trim 21 lbs. down-light 85.00-92.00. Hams bone in trimmed, 17-20 lbs trim spec 1 55.00-57.00; 20-23 lbs trim spec I 53.00. CARLOT LAMB CARCASS. 3,174 head reported. 30-40 lbs 184.00 - 215.00; 40-45 lbs 179.00 - 215.00; 45-50 lbs 178.00 - 199.00; 50-55 lbs 178 00 - 196.00; 55-60 lbs 178 00 - 196.00; 60-65 lbs 178 00 - 196 00, 65-75 lbs 178.00 - 19600, 75-85 lbs 178.00 - 184 00. BSlbs/up 17000 - 17900. 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