Corbitt Wall with USDA Market News gives the weekly feeder and stocker cattle summary for the week ending May 16.
Yearling feeder cattle sold $2 to $5 higher, while calves sold steady to $5 higher. Lightweight calves, under 500 pounds, continue to make up a larger than normal percentage of the run. The real push, however, was on big cattle. At OKC West in El Reno, Okla., steers and heifers weighing over 900 pounds sold $8 to $10 higher, which Corbitt noted is almost unheard of.
The big push for the larger cattle in the Southern Plains is coming from northern buyers. There is not a lot of larger cattle for sale in places like Nebraska and Iowa, so they are coming south to buy.
Also, replacement demand is still "out of this world," according to Corbitt.
The Cattle on Feed report, which was released May 16, was neutral to friendly to the feeder cattle market.
Watch Corbitt Wall’s full report on Beef Today’s Cattle Markets Center.
Wheat Set for Longest Slump in 15 Years as Rain Aids U.S. Crops
What You Need to Know About Drone Safety