040113 National Feeder Cattle Weekly SummaryJanuary 16, 2004AgWeb.com (based on information issued by USDA) - Compared to the previous week, feeder cattle and calf prices were sharply higher on much heavier receipts as optimism and confidence returned to the cattle industry. Calves and stockers weighing under 700 lbs sold 3.00-7.00 higher with instances as much as 10.00 higher as prices in most areas fully recovered to pre BSE levels. Yearlings and feeder calves weighing over 700 lbs traded 2.00-5.00 higher and have rebounded to within about 6.00 of mid- December’s market. This is a remarkable recovery considering a fed cattle market that remains 10.00 lower than before BSE was discovered in the United States, despite gaining 4.00-6.00 this week and posting a few late sales as much as 8.00 higher. Most of the feeder activity occurred in the auction markets this week as direct trading was slow, while country buyers wait for the market to stabilize. Auction receipts were three times heavier than last week but were still well below the same week last year. Market uncertainty caused by the BSE discovery spoiled the salebarn receipts in Colorado for the Stockshow Specials that annually coincide with the National Western in Denver. Superior Video’s “Bellringer” offered only 40,000 head, compared to 122,000 head for the same auction last year. Most auctions are expecting huge receipts for next week, especially in the Midwest where marketings have already fallen way behind normal January patterns. This week’s reported auction volume included 53% over 600 lbs and 43% heifers. Auction volume for the week: 305,500 this week; 112,600 the previous week; 403,700 the same week last year.
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