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January 12, 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        372,300     39,800       118,200        530,300
Last Week        116,000     21,400           5,600        143,000
Last Year          367,500     53,400         78,800        499,700

Compared to last week, feeder steers and heifers were mostly 5.00 to 10.00 lower, instances reported 15.00 lower while steer and heifer calves under 550 lbs sold steady to 5.00 lower.  Demand was moderate for most longtime weaned and preconditioned cattle.  Some locations noted a few loads and packages still coming off the cow but selling with little or no discount. Livestock markets are getting back to normal schedules after the Holidays and many willing sellers were on hand to watch their livestock go through the sale ring this week.  

Auction receipts on this report totaled 372,300 this week; the largest auction volume reported since 2010. Total receipts this week totaled 530,300; almost 25,000 head short of week ending July 17, 2015.  However, during that week in July 2015, 65 percent of the volume was attributed to Video and Internet sales.  This week, over 70 percent was attributed to the auction receipts.  Lackluster futures market late last week followed through into this week and contributed to the sharp losses occurring in the sale rings throughout the country.  

Compared to last Friday, CME cattle complex saw the Live Cattle Contracts 0.35 to 1.88 lower while the Feeder Cattle contracts were 0.68 higher to 2.27 lower.  Some analysts were wondering if convergence between the January Feeder contract and CME Feeder Cattle Index would happen this month.  The January Feeder Contract settled at 144.35 today and the CME Feeder Cattle Index reported yesterday at 146.80.  Lower feedlot trade on Monday this week was abnormal, however some producers wanted to get out in front of the winter storms forecasted mid-week in the Plains states.   Some feedlots had limited interest to procure large numbers of cattle with another round of bone-chilling temps headed their way.  

In the Southern Plains and Colorado the last reported market was on Monday with live cash trades at 120.00.  In Nebraska and the Western Cornbelt the last reported market was on Tuesday with live cash trades at 120.00 and dressed trades were at 192.00.  Packers didn't take on much cash inventory this week as weekly cash volumes reported were as follows: TX/OK/NM - 7,280; KS - 18,354; NE - 35,014; CO - 10,709 and IA/MN - 20,926.  Packers did however try to make up some ground after the holidays and harvested 611,000 cattle this week; 2,000 more than the same week a year ago.  Auction volume this week included 63 percent weighing over 600 lbs and 40 percent heifers

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