Weekly National Feeder & Stocker Cattle Summary
Data released by USDA on June 14th for the week ending June 12th
Compared to last week, steers and heifers sold uneven; 3.00 lower to1.00 higher. Demand was reported moderate to good nationwide as receipts returned to normal following the Memorial Day holiday week. Order buyers were wanting cattle to fill empty pens, however most were wanting to take on inventory at lower prices. Cattle feeders are faced with high costs of gain as corn continues to be high at many areas nationwide and the fed cattle market at 120.00, however with the back months of the futures contracts on either side of 130.00 there is still a lot of interest in feeding cattle. The heat has arrived across the midsection of country with a vengeance as many areas that never see 100 degrees in a summer have already experienced that. Couple that with the drought in the Dakotas makes for a very disconcerting year for many ranchers in the Northern Plains and Upper Midwest.