Feeder Markets Keep Moving Higher

January 20, 2014 01:00 AM

Corbitt Wall from USDA reports on the cattle market, which closed January 17. Feeder cattle over sold fully steady to firm instances up to $2 higher while calves sold firm to $5 higher with the exception of light-weight steers under 550 lbs., which traded for $5-$15 higher, especially in the southeast and southeast surrounding areas including Missouri.

The feeder markets keep moving higher each week and have since the holidays. Many markets quoted even higher compared to last weeks, which was considered sharply higher markets week. However, many markets that were quoted higher are actually catching up to gains that we saw a week ago.

There were heavy receipts this week, which was to be expected because of better weather. Compared to a year ago, receipts were about 20% higher.

Stocker calves sold the best by far but for the most part light-weight calves will be held over until spring. Wall suggests that producers might want to get in on those cattle before they get any higher because it doesn’t look like they’re going to get any cheaper.

The fat cattle market continues to drive feeder market this week with fats sold $2-$3.50 higher on a live basis. Heavy feeders, for the first time in a long time, pencil out better than their lighter-weight peers probably due to cheaper feed prices.

This week’s Regional averages:

The North Central Region came in at $188.91 for a steer weighing 600-700 lbs. versus $187.93 last week and $157.85 this time last year.

The South Central States are at $180.12 for steers weighing 600-700 lbs. compared to $179.03 last week and $151.70 last year.

In the Southeast Region 600-700 lbs. steers will cost you $167.32 compared to $160.34 last week and $141.5 last year.

Watch Corbitt Wall's full report and get more cattle markets updates from the Cattle Markets Center.

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