A
Anonymous
NATIONAL FEEDER CATTLE SUMMARY - WEEK ENDING June 29, 2001.
Receipts: This week 181,500 Last week 148,900 Year ago 153,800
Compared to last week, feeder steer and heifer prices were unevenly steady on heavier receipts. Most areas were able to hold their market together, even after last Friday's grizzly bear of a cattle-on-feed report. However, many Southeastern sales turned lower as fleshy new-crop calves pressured the market and order buyers had little time to prepare loads to ship before next week's holiday. But, for the most part, feeder prices showed amazing strength by not heading straight south on the news that May feedlot placements were sharply higher than most had predicted. Even futures prices managed to hold up, until Friday when lower beef demand and higher corn bids caused sharp losses. Last week's report pressure may have actually helped this week's cash feeder cattle trading. Producers were much easier to negotiate with and direct country trading was very active, especially for fall delivery. Sellers also like to sew-up deals before a big video auction, where out-front markets usually become set in stone. This weekend's Superior Video Auction features over 200,000 head and evidently many cattle feeders continue to be optimistic. Calves for September and October delivery are especially active in early sales with several strings of 400-500 lb steers in the Mountain States bringing from 120.00-130.00. Most of the Plains and the Midwest have been dry and sunny for the past several days and wheat harvest is again making good progress. Next week, marketings will be very light as most markets will be closed for July 4th. However, more downside pressure may come for feeders as the corn market finally got a shot in the arm when Friday's USDA report showed slightly less June acreage than expected. In other news, the beef checkoff program, which has been partly credited for the recent turnaround in consumer beef demand, may be on shaky ground after the Supreme Court set a precedent by deciding that the mandatory mushroom checkoff violates the First Amendment. This week's reported feeder cattle supply included 54 percent over 600 lbs.
http://cattlefeeding.com
[email protected]
Receipts: This week 181,500 Last week 148,900 Year ago 153,800
Compared to last week, feeder steer and heifer prices were unevenly steady on heavier receipts. Most areas were able to hold their market together, even after last Friday's grizzly bear of a cattle-on-feed report. However, many Southeastern sales turned lower as fleshy new-crop calves pressured the market and order buyers had little time to prepare loads to ship before next week's holiday. But, for the most part, feeder prices showed amazing strength by not heading straight south on the news that May feedlot placements were sharply higher than most had predicted. Even futures prices managed to hold up, until Friday when lower beef demand and higher corn bids caused sharp losses. Last week's report pressure may have actually helped this week's cash feeder cattle trading. Producers were much easier to negotiate with and direct country trading was very active, especially for fall delivery. Sellers also like to sew-up deals before a big video auction, where out-front markets usually become set in stone. This weekend's Superior Video Auction features over 200,000 head and evidently many cattle feeders continue to be optimistic. Calves for September and October delivery are especially active in early sales with several strings of 400-500 lb steers in the Mountain States bringing from 120.00-130.00. Most of the Plains and the Midwest have been dry and sunny for the past several days and wheat harvest is again making good progress. Next week, marketings will be very light as most markets will be closed for July 4th. However, more downside pressure may come for feeders as the corn market finally got a shot in the arm when Friday's USDA report showed slightly less June acreage than expected. In other news, the beef checkoff program, which has been partly credited for the recent turnaround in consumer beef demand, may be on shaky ground after the Supreme Court set a precedent by deciding that the mandatory mushroom checkoff violates the First Amendment. This week's reported feeder cattle supply included 54 percent over 600 lbs.
http://cattlefeeding.com
[email protected]
