New Holland, PA Fri May 24, 2013 USDA- Ag Market News
Lancaster Weekly Cattle Summary for week ending Friday, May 24, 2013
This Week: 2710 1370
Last Week: 2325 1426
Last Year: 2287 1647
This week in Lancaster County, the slaughter steer market held steady.
Buyers remained active in the trade with lighter supplies spurring on demand.
Buying for the Memorial Day Holiday is typically completed a week prior, but
it is likely that with tight supplies across the region that buying extended
into the current week. Trade in the Midwest has been slow as of Thursday.
Light trades reported out of Texas and Kansas at 124.00/cwt Live and Nebraska
and Iowa from 125.00-126.00/cwt Live. Beef processors are showing little
interest in purchasing cattle at the moment, knowing that next week's kill
will be shortened due to the Holiday. Choice Boxed Beef continues to set new
records on a daily basis. Choice beef closed higher again Thursday at
211.37/cwt, with the Choice/Select spread quoted at 19.85/cwt. Live cattle
futures had a lackluster week and slumped to 119.12/cwt at Thursday's close
for CME June contracts. The cash continues to hold a large premium to the
board, but as the June contract nears expiration next month we can expect to
see that gap narrow favoring one end or the other. There is both bullish and
bearish ammunition to throw at the market at the moment, and a clearer
direction will likely be seen post-holiday depending on beef sales. To sum it
up, record box beef prices give evidence that that spot beef demand is very
strong, likely due to the Holiday and short bought retailers. But, depressed
June Live cattle futures indicates fear amongst investors and hedgers that
reflective retail prices of record boxed beef will overwhelm consumers post-
holiday and the rally will be short-lived. Meanwhile beef processors are
enjoying some of the largest profit margins they have seen since June of
2012. According to USDA's cold storage report, overall meat inventories of
pork, poultry, and beef are up 5.4% from a year ago, most of the rise
accredited to an increase in total pork and poultry. Beef inventories on the
other hand are 2% lower than a year ago, but the devil is in the details.
Boneless beef, which accounts for the majority of the beef in storage, was 3%
higher than a year ago. The decline in total beef was attributed to a 31%
decline in beef cuts. To put it simply, there are plenty of grinds and fewer
high valued retail cuts. Increased cow slaughter the Southern Plains, mid-
Atlantic, and West Coast have added significantly to the boneless supply. The
movement of cows to slaughter varies depending on the region. The southern
plains are still plagued with drought, the west coast both drought and poor
dairy margins and the mid-Atlantic is a combination of poor dairy margins and
an increased flow of Canadian cow being brought across the border for
slaughter. Although cow slaughter has increased nationally and in this
region, it had little effect on cow demand across the state. The slaughter
cow market in the Lancaster region sold steady to firm this week with very
good demand and moderate supplies. 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 1250-1650 lbs 125.00-128.00.
Choice 2-3 1270-1600 lbs 122.00-126.00. Select 2-3 1250-1565 lbs 118.00-
Slaughter Holsteins: High Choice and Prime 3-4 1450-1600 lbs 114.00-
118.00. Choice 2-3 1550-1650 lbs 106.50-112.00. Select 1-3 1400-1650 lbs
Slaughter Heifers: Choice 2-3 1100-1400 lbs 117.00-121.50. Select 2-3
1050-1400 lbs 111.50-116.00.
Percent Lean Avg. Dressing High Dressing Low Dressing
Premium White 65-75 79.00-84.50 84.50-89.50 78.00-78.50
Breakers 75-80 79.00-84.00 84.00-87.00 74.00-79.00
Boners 80-85 78.00-83.00 83.00-84.50 72.50-78.00
Lean 85-90 75.00-79.50 79.50-84.00 65.00-75.00
Slaughter Bulls: Yield Grade 1 910-2175 lbs 90.50-98.50, high dress
100.00-113.00, low dress 82.50-90.00.
Calf Summary: This week in Lancaster County, Holstein Bull calves sold
mostly 20.00 lower with some firmness early in the week carried over from the
previous week. Demand was moderate. Heifers traded steady to weak with light
demand. The Composite Veal Carcass Values for the Northeast United States was
quoted from 330.00-354.00/cwt this week, with a weighted average value of
334.13/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 95-120 lbs 190.00-210.00; 90 lbs
180.00-205.00. Number 2 85-125 lbs 160.00-185.00. Number 3 80-120 lbs
160.00-185.00. Utility 65-85 lbs 50.00-85.00; 50-60 lbs 35.00-60.00. Holstein
Heifers: Number 1 80-120 lbs 120.00-140.00. Number 2 75-110 lbs 80.00-
110.00. Jersey/Crossbreds 70-85 lbs 100.00-110.00. Non-Tubing/Utility 60-85
Tuesday- Graded Holstein Bull Calves: Number 1 122 lbs 137.00; 95-113 lbs
160.00-170.00; 85 lbs 112.00. Number 2 95-115 lbs 147.00-158.00; 85-90 lbs
105.00-130.00. Number 3 82-109 lbs 90.00-100.00; 75 lbs 73.00. Utility 73-103
lbs 65.00-80.00. Graded Holstein Heifers: Number 1 92-102 lbs 140.00-150.00;
82 lbs 100.00. Number 2 90 lbs 110.00; 72-83 lbs 72.00-80.00. Utility/Non
tubing 72-98 lbs 70.00-80.00.
Thursday- Graded Bull Calves: Number 1 98-128 lbs 167.00-180.00; 90-96 lbs
130.00-150.00. Number 2 112-128 lbs 140.00-147.00; 88-110 lbs 130.00-135.00;
80-86 lbs 115.00. Number 3 80-130 lbs 100.00-117.00; 72-78 lbs 75.00. Utility
60-110 lbs 65.00-80.00. Holstein Heifer Calves: 85-110 lbs 110.00-130.00.
Number 2 70-95 lbs 70.00-85.00, Jersey/Crossbred 55-90 lbs 85.00-105.00.
Utility/Non tubing 60-85 lbs 60.00-75.00.
Dairy Report: (Receipts: 537)
Compared to last week, dairy cows sold 100.00-200.00 lower. Demand was
moderate. Bred heifers sold firm with moderate demand. Wednesday's supply
included 88 fresh milking cows, 38 short-bred cows, 16 springing cows, 105
short-bred heifers, 48 springing heifers, 190 open heifers, and 21 bulls. One
hundred percent of reported supply Holsteins unless otherwise noted. All
sales sold on a per head basis.
Short Bred Cows: (1-3 months):
Bred Cows: (4-6 months):
Springing Cows: (7-9 months):
Cull Cows: 725.00-1300.00
Short Bred Heifers: (1-3 months):
Bred Heifers: (4-6 months):
Springing Heifers (7-9 months):
Bulls: 300-600 lbs 450.00-500.00; 600-900 lbs 900.00-925.00;
900-1200 lbs 975.00-1225.00; 1200-1500 lbs 1125.00-1175.00.
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