Weekly Feedlot and Finished Cattle Recap with Ed CzerweinTue, 12 Apr 2016 18:42:41 CDT
Ed Czerwein of the U.S. Department of Agriculture Market News Office in Amarillo, Texas presents a weekly feedlot trade and finished cattle price recap for the week ending April 9, 2016.
The finished cattle trade live prices were mostly steady to $1 higher.
The weekly weighted average cash steer price for the five areas, which includes Texas, Nebraska, Colorado, Kansas and Iowa/Minnesota feeding areas, was only $.07 higher at $133.90 and compared to $133.83 the previous week.
The five area total cash volume was 82,000 head compared to 70,000 head the previous week. The three biggest states for cash volume were Nebraska at 29,000 head, Kansas at 24,000 head and Iowa/Minnesota at 18,000 head. All three together totaled 86 percent of the cash volume for the five areas.
Five area formula sales totaled 156,000 head with Texas at 70,000, Kansas at 38,000 head and Nebraska at 27,000 head. The five area formula price was $216.06 compared to $220.10 the previous week. Many of the formulas are based off of the previous cash sales, so they normally lag a little behind in the up and down movements compared to the cash sales.
Live imported slaughter cattle totaled 7,200 head for the week compared to 5,700 last week.
Reported contracted cattle volume for the five areas was 33,000 head, which was down 3,000 head compared to the previous week. The total national contracted cattle volume was 55,000 head.
This is the time of the year when all weights - both live and carcass - follow their normal seasonal declines. However the average live weight from the Texas Panhandle, which includes steers and heifers for the week ending April 2, was 7 lbs higher at 1,324 lbs, and that was 64 lbs heavier than last year, which was 1,260. However the percent heifers dropped from 36 the previous week down to 31 this week, and fewer heifers always increases the average weight.
The latest average national steer carcass weight for the week ending March 26, was 8 lbs lower at 887 lbs, but was still 13 lbs higher than last year, which was 874 and the five-year average was 847.
Choice-Select spread was $9.55 on Friday, which was $2.60 lower compared to the previous Friday. The Choice-Select spread is always bigger when the demand for Choice ribs and loins is higher.
Cattle are actually grading a very high percent Choice/Prime now due to longer feeding, better genetics and heavier carcass weights. The percent Choice normally declines when more calf feds enter the trade later this spring. Quality grades for all regions of the U.S. averaged 76.5 percent Choice and Prime compared to 75 percent last week and 74.75 percent last year.
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