Compared to last week, yearling feeder cattle sold mostly 5.00-8.00 lower with instances 10.00 lower with the most declines on those weighing over 800 lbs. Steer and heifer calves traded unevenly steady to mostly 5.00 lower, with unweaned and fleshy calves trading 10.00-15.00 lower.
By Ron Plain and Scott Brown, University of Missouri
The April Cattle on Feed report said placements into large feedlots during March were up 0.4% and marketings were down 1.7% compared to March 2014. That yields an on feed number April 1 equal to 100.0% of a year ago. Placements were larger than the trade forecast.
USDA's latest Cold Storage report says there were 480 million pounds of beef in cold storage at the end of March. That is 18.2% more than a year ago, but 2.4% less than the month before. Overall, this is good news as beef stocks usually increase during March.
Corn continued its recent slide Friday. Although Thursday’s weekly USDA Export Sales report looked bullish for corn, CBOT prices continued their recent decline into the weekend. Talk of rapid spring planting and lower demand resulting from the ongoing ‘bird flu’ outbreak clearly depressed prices. Early Friday news of a big corn sale and recent U.S. dollar losses did little to boost the market. May corn futures sank 6.25 cents to $3.645/bushel at Friday’s close, while December lost 6.25 to $3.8825.