New Holland, PA Fri May 17, 2013 USDA- Ag Market News
Lancaster Weekly Cattle Summary for week ending Friday, May 17, 2013
This Week: 2325 1426
Last Week: 2595 1220
Last Year: 2639 1185
This week in Lancaster County, slaughter steers sold steady to firm.
Supplies were heavier this week with the majority of the cattle expressing an
attractive Choice to Prime quality. Buyers were very active with a need to
fill orders for the upcoming Memorial Day Holiday. Demand remained very good
throughout the week. Direct cattle trades in the Midwest were light as of
Thursday, with Texas only trading a light volume at 125.00/cwt Live. The spot
market continues to hold a substantial premium to the June Futures. CME June
Live cattle futures closed at 119.90/cwt on Thursday, a conservative 5.00
lower than the spot market. Several speculators feel the cattle and beef
market will fail to "go the distance" post-Holiday, and the run up in beef
prices is a short term rally. In addition outside markets and a higher dollar
has caused some retreat in the futures market across the board. At the moment
the beef market appears to be getting along quite well as we continue to
witness daily records. Choice boxed beef advanced again on Thursday closing
at 208.77/cwt, around 8.00/cwt higher than two weeks ago. It appears that
several retailers and food vendors where short bought and need to re-stock
inventories after taking mom out for Mother's Day. Direct cattle trades where
lower the past two weeks with feeders exercising hedges for price protection
and trading lower on the spot to remain current with the cattle supply.
Packers have taken advantage of the lower live cattle trade and are finally
posting some attractive margins estimated at over $50.00/hd, the highest it
has been since last summer. Slaughter cows in the Lancaster Region were 3.00-
4.00 higher this week. Higher markets continue to be driven by tight supplies
and the need for grinding beef for the Holiday. USDA will be releasing their
cattle on feed report Friday at 3:00pm eastern. The average analysts'
forecast is about 96% of last year's supply, but there is a big discrepancy
in placements ranging from about a 4% increase to a 16% increase. Lower corn
prices as well as feeder cattle prices have brought on the incentive to place
more cattle. In addition drought continues to linger in the southern plains
causing cattlemen to send calves earlier than expected. Heifer retention may
also be less than what was intended at the start of the year due to poor
pasture conditions. All cattle markets are priced per cwt with exception of
dairy cattle purchased on a per head basis.
For detailed cattle quotations refer to web addresses:
http://www.ams.usda.gov/mnreports/LN_LS140.txt (New Holland Monday)
http://www.ams.usda.gov/mnreports/LN_LS142.txt (New Holland Thursday)
http://www.ams.usda.gov/mnreports/LN_LS146.txt (Vintage Monday)
http://www.ams.usda.gov/mnreports/LN_LS141.txt (Vintage Tuesday)
Slaughter Steers: High Choice and Prime 3-4 1305-1565 lbs 125.00-128.50.
Choice 2-3 1225-1620 lbs 122.00-126.00. Select 2-3 1250-1500 lbs 118.00-
Slaughter Holsteins: High Choice and Prime 3-4 1420-1665 lbs 111.00-
116.50. Choice 2-3 1420-1650 lbs 105.00-110.00. Select 2-3 1400-1650 lbs
Slaughter Heifers: High Choice and Prime 3-4 1100-1350 lbs 123.00-127.00.
Choice 2-3 1100-1525 lbs 118.00-125.00. Select 2-3 1050-1400 lbs 110.00-
Percent Lean Avg. Dressing High Dressing Low Dressing
Premium White 65-75 81.50-87.00 ----------- 78.00-81.50
Breakers 75-80 78.00-86.00 86.00-90.00 74.50-78.00
Boners 80-85 78.00-84.50 84.50-88.50 73.00-78.00
Lean 85-90 75.00-79.50 79.50-83.00 68.00-75.00
Slaughter Bulls: Yield Grade 1 900-2015 lbs 94.00-99.50, high dress
99.50-109.00, low dress 87.00-93.50.
Calf Summary: This week in Lancaster County, Holstein Bull calves began
the week with a lower market but quickly advanced throughout the week,
trading as much as 50.00 higher by Thursday. Heifers traded steady to 10.00
lower with light demand. The Composite Veal Carcass Values for the Northeast
United States was quoted from 330.00-355.00/cwt this week, with a weighted
average value of 334.76/cwt (Hide-off). All prices per cwt.
For detailed veal market information refer to the link below:
http://www.ams.usda.gov/mnreports/lswveal.pdf (National Veal Summary)
Monday- Holstein Bull Calves: Number 1 95-130 lbs 180.00-200.00; 85-90 lbs
160.00-170.00. Number 2 95-125 lbs 160.00-180.00; 80-90 lbs 140.00-155.00.
Number 3 100-110 lbs 110.00-140.00; 75-90 lbs 80.00-100.00. Utility 75-95
lbs 60.00-77.00. Holstein Heifers: Number 1 85-110 lbs 130.00-150.00. Number
2 85-130 lbs 80.00-100.00. Non-Tubing/Utility 70-85 lbs 45.00-75.00.
Tuesday- Graded Holstein Bull Calves: Number 1 122 lbs 147.00; 103-113 lbs
172.00-177.00; 90-95 lbs 150.00-157.00. Number 2 114 lbs 166.00; 95-113 lbs
180.00-185.00; 85-90 lbs 137.00-165.00. Number 3 94-109 lbs 132.00-137.00;
80-84 lbs 87.00-112.00; 73 lbs 70.00. Utility 85-106 lbs 78.00-80.00; 60-72
lbs 50.00-65.00. Graded Holstein Heifers: Number 1 113 lbs 135.00; 92-103
lbs 150.00-152.00. Number 2 90-100 lbs 132.00-135.00; 82 lbs 87.00.
Utility/Non tubing 65-74 lbs 57.00-70.00.
Thursday- Graded Bull Calves: Number 1 120-128 lbs 177.00; 94-118 lbs 195.00-
210.00. Number 2 120-128 lbs 187.00; 106-118 lbs 200.00-203.00; 94-102 lbs
225.00-230.00; 80-92 lbs 100.00-120.00. Number 3 90-130 lbs 110.00-135.00;
72-88 lbs 74.00-877.00. Utility 60-110 lbs 71.00-81.00. Holstein Heifer
Calves: 85-105 lbs 110.00-130.00. Number 2 80-115 lbs 85.00-110.00.
Utility/Non tubing 60-85 lbs 70.00-80.00.
Dairy Report: (Receipts: 176)
Compared to last week, dairy cows sold 100.00-200.00 higher on a light
test. Demand was good better quality fresh cows offered. Bred heifers sold
firm with moderate demand. Wednesday's supply included 56 fresh milking cows,
2 short-bred cows, 4 springing cows, 23 short-bred heifers, 30 springing
heifers, 47 open heifers, and 13 bulls. One hundred percent of reported
supply Holsteins unless otherwise noted. All sales sold on a per head basis.
Cull Cows: 800.00-1225.00
Short Bred Heifers: (1-3 months):
Bred Heifers: (4-6 months):
Springing Heifers (7-9 months):
Bulls: 900-1200 lbs 975.00-1050.00, Jersey 850.00;
1200-1500 lbs 1225.00-1500.00.
Source: USDA Ag Market News, New Holland-Lancaster County, PA
Levi Geyer, OIC / Cell 717-406-7350
John Stacy, Market Reporter / Office 717-354-2391
Lancaster, PA County Weekly Cattle Summary
- U.S. readies for more 'extremely tough' trade talks with Japan
- Ag markets ended the week in decidedly mixed fashion
- Vilsack: Farm Bill, budget expand opportunity in rural America
- Crop markets set back from early-Friday highs
- Crop markets surged again Thursday night
- Accelerated Genetics sets Leadership Conference
- “Ag-gag” laws in the news
- Conventional agriculture winning some, losing some in culture war
- Can genomics, OPU and IVF take the industry to the 'next level?'
- Preventing roof collapses from snow on agricultural buildings
- Monsanto opens search for 2014 "Farm Mom of the Year"
- School breakfasts celebrated from coast to coast