Recent Feeder Market

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Most of my calves are contracted until Nov. 9 and the young lady that sets it up for me says I should be in good shape according to their cattle pricing guru. He told her on Sept. 15 the market was topped out. He seems to be right so far.
Forage insurance is going to be the big winner this year. I'm glad to have it with the price of supplements.
 
I think it'll come back quicker than 2 years. prices still aren't bad. Just not as great as they appear due to current inputs. If history repeats itself, high commodity prices will result in grain farmers (world wide) going all in on corn, taking up pasture and every piece of dirt that can grow corn in an effort to secure some $6-$7 corn/$14-16 beans. There will be an over-production and result in depressed prices which I would think would pour life into the shrinking cattle market. Its an election year so I'd assume there will also be some actions to kick the can of recession down the street until after November. In regards to the land that is "out of service" due to the russia/ukraine fiasco, tough to say. But this is coming from a guy that really knows nothing about anything pertaining to this.
 
I think it'll come back quicker than 2 years. prices still aren't bad. Just not as great as they appear due to current inputs. If history repeats itself, high commodity prices will result in grain farmers (world wide) going all in on corn, taking up pasture and every piece of dirt that can grow corn in an effort to secure some $6-$7 corn/$14-16 beans.
It's OK to be optimistic but having a lot of cash is even better. The Fed and Brandon have put us into uncharted territory.

Brazil is all in on increasing the number of farmed acres and producing a new record grain crop year after year. They are buddies with Russia so they can still get fertilizer.

In a simple world it comes down to whether Brazil is going to drive down the price of grain or the price of beef faster?
 
The kids were here hunting. Said they were going home tomorrow. So going to the sale was out for today. Then they said today at noon. Sale would still be out. They left at 10:30. I still have time to make the sale if I drive fast. I got 3 steers weighing 414 for $1.75. When I went to pick up the brand release papers I found out they came from one of my neighbors. I will need to get my brand and ear tags on them because if they got out now I know where they would end up.
 
Today at the La Grande sale it was a barn burner. Things which I remember 20 Black steers weighing 515 sold for $2.12. 18 black steers weighing 810 sold for $1.65. A 330 steer sold for $2.65. The last thing I watched and when I decided there was no use in me being there was a pot bellied black steer weighing 350 sold for $2.30. I have been buying 350-400 pound steers and average paying $1.88. There was at least 3 lots of 100 head or more sell. A couple of those lots were heavy enough calves that the single lot was more than you can put on a semi.
 
The local sales around here the price of 500 lb steers have dropped $200 per head since the first of September.
Our prices have dropped some but not that much. Neighbor sold on Superior got $2.31 on 2 semi loads of 550 pound steers. Same steers were down 20 cents last week. That is $110 a head. He also got $2.00 on 500 pound heifers. They are only off about a dime from that price.
 
It's almost like a supply and demand thing. It's like suddenly every one is selling their calves that were born this spring. Who would of thought that calve prices would drop this time of year as supply increases. It's almost like a price drop would occur every year at this time ,once the supply increases and the buyers have more options. Who would of thunk it😳
 
550 wt calves at a small graded sale yesterday brought 1.80 and the same weight bull calves were only $.10 less. Son said it was a waste of his time to go. He bought a few odd ones (bulls) last week for 1.40 and a couple for 1.15. Said cow/calf pairs were off a bit... a few with new calves were in the 1100 range... and some older looking breds were only 7-800. We think a little different some times. But he was looking to pick up some singles for a cheaper price. Not yesterday. I would have bought some of the cows .....we have grass and plenty of feed this year. Silage would have done them some good I think.
 
Strange. Around here the heavies are holding up best. 5 weights and under not so much.
3 wt. pricing is very variable. Seems like they are reasonable here every 4th week or so. Otherwise way too high to make money on value of gain when resold at 500lb.. Better to buy 5 wts at this point.
 
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Price were sure good today. They said they had 2,700 head of feeder cattel plus cows and bulls. It doesn't take too long to sell when they are selling 40, 50, and more at a time. All the sales around here have ring scales so they are weighed at the point of sale. I think the scale will weigh up to 30,000 pounds. They would run in a ring full, weigh them, run them out and the next ring full in. When they got to the last of an owners calves in thqat size they would sell them all in one bunch. I watched 135 640 pound calves sell in a single lot (87,030 pounds) for $1.8225. 184 black heifers weighing 616 sold for $1.755. That was 5 drafts for a total weight of 113,275. Over 100 mixed steers (red, black, and Char crosses) weighing 705 brought $1.86. The auctioneer announced that the ranch had 400 head there. For you ear cattle lovers. They brought in a ring load of steers, 35+/-. Before the auctioneer said anything one of the buyers request that they cut out that "eared steer". The rest of the lot sold for about $1.85. Then they sold the 625 pound brangus looking steer for $1.25. A few lots later (same owner) they ran in 2 brangus steers that weighed 528. They sold for $1.45. Angus steers that weight range were selling for $2.05 +/-. After about 4 hours of sitting and watching I got the 5 light steers I needed to finish up. One lot of 5 steers weighing 350 each for $2.00. 2 reds, 2 blacks, and one char.
 
Man, just not right to pick on ears that way.... 😄
Just the facts. I happen to know the man who bought them. Along with a sizable operation here, he has a big place leased somewhere in southern California. He buys lower grade critters at a discounted price here and ships them down there. Must be working for him. Never see him buying the $2.00 a pound fancy steers.
 

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