Compared to last week, steers and heifers sold uneven: 2.00 lower to 2.00 higher in the Southcentral and Southeast regions. Steers and heifers sold 4.00 to 9.00 higher in the Northcentral region. Auction and direct receipts increased this week by 50K for auction and 40K for direct. After the holiday last Saturday, some Monday auctions took another week off to get more maintenance done and will be ready to get back into the swing of things next week.
Mid-week sales such as Bassett (NE)Livestock Auction’s Annual BBQ special brought over 8,000 head of weaned fall calves and load lots of Sandhill-raised yearlings to town, with those heavier weight yearlings trading sharply higher than their last regular sale two weeks ago. Steers and heifers alike were in demand in central NE as a load of 627 lb steers sold at 171.25. Near 7 loads of top-notch steers weighing from 835 to 846 lb steers sold from 145.60 to 147.00; averaging 146.13 or $1225.00 per head. Also, a load of 901 lb spayed heifers sold at 131.00.
The drop in recent boxed-beef prices has stabilized for the time being with this morning’s Boxed Choice beef cut-out prices was quoted at 203.59, 1.85 lower than last Thursday’s close. Select cuts were reported at 194.83, 3.93 lower when compared to last Thursday. Steer dressed weights for w/e June 27, 2020 reported at 896 lbs; up 42 lbs from a year ago. The increase in beef tonnage on roughly the same amount of cattle slaughter will put more beef in the pipeline for consumers. Cattle grading Choice and Prime for w/e June 27 was reported at 83.7 percent; up 6.6 percent from the same week a year ago. Most of this would be due to cattle being fed for a longer period with some being fed around 200 days.
The CME Cattle Complex was mostly higher this week, with only the front month of each contract minimally lower from Friday to Thursday; all the deferred contracts were higher in the same time period. Estimated slaughter under federal inspection this week was reported at a 664K, 71k more than last week, and only 6K more than last year. Auction volume this week included 54 percent weighing over 600 lbs and 39 percent heifers.