Calf And Feeder Markets Heating Up
Auction markets across the country saw some sizzling prices last week as demand was called moderate to good for all weights of steers and heifers.
Agricultural Marketing Service reporters called last week’s market steady to $3 higher, with some calf markets in the Northern Plains reported $5 to $7 higher. AMS noted extreme heat across the Midwest and Plains states with high humidity also a factor.
“Most yearling operators like to have their yearlings sold by Labor Day as the tail end of the calf-feds from the previous year are coming out of the feedyards,” AMS reporters said. “Spring-born bawling calves are in the mix of the feeder supply from the North Plains to the Southeast and currently, willing buyers are there to fill orders. In the upcoming weeks, farmers in the Midwest will not want to take the time to straighten up some bawling calves as large temperature swings will no doubt be on the horizon.”
Auction receipts totaled 159,800 last week compared to 144,600 the previous week and 156,200 last year.
Cash fed cattle reached their highest price of the year last week $125.86, but packers have given up precious little of their leverage. Nearly half the cattle bought on a negotiated basis last week were bought with time, a clear indication packers will enter September with adequate inventory.
