Sales of slaughter-ready cattle from Kansas feedlots rose counter-seasonally in February, although seasonal tendencies call for declines through April.
The data comes from a monthly survey of selected feedlots around the state conducted by the Kansas State University Extension Service. The data is turned over to the Livestock Marketing Information Service in Denver where it is compiled to arrive at the performance of the “average” Kansas feedlot, graphed and published on the LMIC website.
CLOSEOUTS RISE
Sales of cattle from feedlots, called closeouts because their exit closes the books on their time on feed, usually decline month to month into an April low before rising to a late-summer high. This year, though, Kansas feed yard closeouts rose through February, hinting at declines to come.
Steer closeouts from the “average” Kansas feedlot in February totaled 4,559 head, down 375, or 8.96%, from January’s 4,184, but up 46, or 1.02%, from February 2022’s 4,513 and up 424, or 10.3%, from the 2017-2021 average of 4,135.
Heifer closeouts from the average Kansas feedlot in February totaled 2,950 head, up 350, or 13.5%, from January’s 2,600 but down one, or 0.03%, from 2,951 a year ago and down 360, or 10.9%, from the previous five-year average of 3,310.
EXIT WEIGHTS DECLINE
Exit weights of fed steers and heifers declined in February compared with January but showed mixed comparisons with previous graph points. Steer weights were between last year and the 2017-2021 average while heifer weights were less than last year and only fractionally lower than the previous five-year average.
Steers leaving the average Kansas feed yard in February for their date with destiny weighed 1,435 pounds, down one, or 0.006%, from 1,436 in January and down 17, or 1.17%, from last year’s 1,452 pounds but up 19, or 1.34%, from the average of 1,416 pounds.
Heifer closeouts from the average Kansas feedlot in February weighed 1,292 pounds, down 29, or 2.18%, from January’s 1,321, down 34, or 2.56%, from 1,326 pounds last year and down one, or 0.08%, from the 2017-2021 average of 1,293 pounds.
DAYS ON FEED RISE FROM JANUARY
The time February closeouts spent on feed rose from January, although heifers spent less time on feed than steers.
February steer closeouts from Kansas feedlots spent 190 days on feed, up 10, or 5.56%, from 180 in January, up 14, or 7.95%, from 176 a year earlier and up 20, or 11.8%, from the previous five-year average of 170.
February heifer closeouts from the average Kansas feed yard spent 177 days on feed, down seven, or 4.12%, from 170 in January, down four, or 2.21%, from 181 a year ago but up 11, or 16.7%, from the 2017-2021 average of 166.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $164.63 to $171.18 per cwt, compared with last week’s range of $163.20 to $166.06. FOB dressed steers, and heifers went for $256.76 to $264.03 per cwt, versus $255.92 to $262.06.
The USDA choice cutout Wednesday was up $0.68 per cwt at $288.62 while select was up $0.21 at $278.16. The choice/select spread widened to $10.46 from $9.99 with 87 loads of fabricated product and 15 loads of trimmings and grinds sold into the spot market.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.60 to $1.68 a bushel over the May corn contract. Bids in Kansas are no longer available. The May contract settled at $6.52 3/4 a bushel, down $0.01.
The CME Feeder Cattle Index for the seven days ended Tuesday was $193.29 per cwt, up $0.27. This compares with Wednesday’s Apr contract settlement of $197.82 per cwt, down $0.12.