The Cattle Range Home Page
November 17, 2017
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. .National Feeder & Stocker Cattle Weekly Summary

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National Feeder & Stocker Cattle Weekly Summary

RECEIPTS:    Auctions     Direct    Video/Internet     Total
This Week     320,200     26,600         2,200         349,000
This Week     358,200     43,600         2,000         403,800
Last Year       297,600     62,700         1,800         362,100

Compared to last week, steers and heifers sold mostly steady to 5.00 lower; giving back all of last week's advances. Fed cattle traded earlier than normal this week, mostly Wednesday at 119.00 in the Southern Plains and mostly 190.00 dressed in the Northern Plains; 5.00 lower and 2.00 to 4.00 lower respectively.

Tuesday and Friday of this week saw feeder cattle futures remarkably lower. The market is in need of some bullish news to sustain the current trading levels. Packers have still had an appetite to keep the chain speed ramped up for market ready steers and heifers. Actual cattle slaughter for w/e November 4, 2017 was reported near 646K, around 13K more than the previous five week average. The dressed steer slaughter weight has now been reported over 900 lbs for the second week in a row, however still 11 lbs under year ago's published weight.

Retailers have been increasing beef specials even with Turkey Day upon us. This week, standing rib roasts were the most advertised items on the National Retail Beef Report with near 1/3 of all stores sampled having that item on their
circular. Middle meat volumes on that report are near 75 percent higher than a week ago as beef tries to move volume this week and consists of 36 percent of the total activity index this week. The Restaurant Performance Index was pegged at 100.7 for the month of September, 0.5 percent higher than August.

After the last couple weeks of large auction volume on this report, total receipts were curtailed by more than 50K when compared to last week. NASSís Cattle on Feed was released this afternoon, with cattle on feed November 1 totaling 106 percent and cattle placed on feed in October totaling 110 percent, both above estimates. Fed cattle marketed in October came in at 106 percent, in line with industry guesses. October is an important month when referencing placements as it is the largest month in regard to number of animals placed into feedyards. Auction volume this week included 38 percent weighing over 600 lbs and 40 percent heifers. All of us here at the Federal/State Market News Service wish all of you a happy and pleasant Thanksgiving.

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