CattleNetwork: Feeder Cattle: Aggressive Buyers, Pastures In Poor Condition

CattleNetwork.com - Compared to last week, feeder and stocker cattle sold steady to 2.00 higher across most of the United States. The only exceptions both took place in the hot/dry Southern Plains, where yearling feeders traded as much as 4.00 higher and a light test of calves sold weak to 3.00 lower. Feeder buyers were aggressive this past week following last week’s 2.00 gain in the fed cattle market and the expectation of tight supplies of yearlings through the summer.

Read the full story at CattleNetwork.com.

Other highlights from the article:

• The USDA rated 45 percent of the pastures in this area to be in poor or very poor condition, compared to 21 percent last year and a five year average of 23.6.
• Cow receipts in Texas auctions have been well above normal for weeks as producers are being forced to sell not only their old cows but also viable breeding stock, many of which are going to slaughter
• Slaughter steers and heifers sold 1.50-2.00 lower from 81.00-81.50
• Packers continue to operate at aggressive chain speeds with an estimated weekly cattle harvest of 707,000, which was 49,000 head larger than the same week a year ago