LN_LS145 New Holland, PA Fri May 17, 2013 USDA- Ag Market News Lancaster Weekly Cattle Summary for week ending Friday, May 17, 2013 Cattle Calves 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- 121.50. 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 98.00-106.50. 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- 116.00. Slaughter Cows: 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. Fresh Cows: Supreme: 1850.00-2150.00 Approved: 1575.00-1750.00 Medium: 1300.00-1500.00 Common: 1025.00-1250.00 Cull Cows: 800.00-1225.00 Short Bred Heifers: (1-3 months): Supreme: 1350.00 Approved: 1150.00-1225.00 Medium: 1000.00-1075.00 Common: 900.00-950.00 Bred Heifers: (4-6 months): Supreme: 1325.00-1350.00 Approved: 1125.00-1175.00 Springing Heifers (7-9 months): Supreme: 1500.00-1725.00 Approved: 1325.00-1475.00 Medium: 1100.00-1275.00 Open Heifers: 300-600 lbs: Approved: 425.00-450.00 600-900 lbs: Approved: 710.00-750.00 Medium: 500.00-600.00 Common: 475.00-500.00 900-1200 lbs: Approved: 900.00-910.00 Medium: 825.00-875.00 Common: 675.00-750.00 1200-1500 lbs: Supreme: 1150.00 Approved: 900.00-975.00 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 http://www.ams.usda.gov/mnreports/LN_LS145.txt 1820e lg/js