Cash Fed Cattle Lower, Feeders Uneven

Feeder cattle sold uneven at auctions across the nation. ( FJ )

Cash fed cattle traded mostly $1 lower for the week ending July 19, 2019, with Kansas and Texas at $111, and Nebraska at $113 to $114, and Iowa at $115. USDA’s National Daily Cattle and Beef Summary quoted the average at $113.

Dressed sales in Nebraska were steady at $182 to $185. The Choice beef cutout closed the week $0.62 lower at $213.42, with Select $0.09 lower at $189.51. The Choice/Select spread was $23.91. Cattle slaughter under federal inspection was estimated at 651,000 for the week, 4,000 less than last week, and 16,000 more than last year.

Steers and heifers sold at auction this week $3 lower to $3 higher. Agricultural Marketing Service reporters said receipts were curtailed due to the heat wave gripping mush of the country.

USDA released the July 1 cattle on feed numbers, showing the on feed number 2% higher, while placements were 2% lower than last year. Marketings were estimated at 97% of a year ago. The on feed number represents the third month in a row recording the largest number on feed since the data series began in 1996.

USDA also released its mid-year cattle inventory report, with the count at 103 million head, even with last year’s number. The 2019 calf crop in the United States is expected to be 36.3 million head, down slightly from last year. Calves born during the first half of 2019 are estimated at 26.5 million head, down slightly from the first half of 2018.

Related stories:

Cattle Mid-Year Inventory Unchanged, Calf Crop Down

July Cattle On Feed Up 2%