Kansas fed steer closeouts in July declined in a counter-seasonal move but remained near the 2017-2021 average, according to data collected by the Kansas State University Extension Service and compiled and published by the Livestock Marketing Information Center in Denver.
Fed heifer closeouts shot higher to mark the largest marketing month this year, although they, too, were near the five-year average.
The data is collected by the KSU Extension Service from selected feedlots across the state. The data is then given to the LMIC where it is compiled to show the activity of an “average” Kansas feedlot.
The data also showed that exit weights of steers and heifers declined in July.
CLOSEOUTS RISE FROM JUNE
The number of fed steers marketed to beef packers in July from that “average” Kansas feedlot was 4,700 head, the LMIC said, down 287, or 5.75%, from 4,987 in June but up 587, or 14.3%, from last year’s 4,113 and down 539, or 10.3%, from the 2017-2021 average of 5,239.
The number of heifers closed out by the average Kansas feed yard in July was 3,891 head, down 92 3, or 31.1%, from 2,968 a month earlier but up 538, or 16.0%, from 3,353 a year earlier and up 119, or 3.15%, from the previous five-year average of 3,772.
Steer closeouts in August may have trended upward from August. The annual high usually is set in August before falling to a seasonal low in October.
August heifer closeouts, however, may trend lower. A seasonal low usually is hit in August, although last year, heifer closeouts moved up from July.
EXIT WEIGHTS DECLINE
The final weights of steers and heifers exiting the average Kansas feedlot in July declined from June but remained near the five-year average.
The average weight of steers leaving that feedlot in July was 1,402 pounds, down eight, or 0.57%, from 1,410 in June, down 10, or 0.71%, from last year’s 1,412 pounds and down 13, or 0.92%, from the 2017-2021 average of 1,415 pounds.
The average heifer leaving the average Kansas feedlot in July weighed 1,268 pounds, down 35, or 2.69%, from 1,303 pounds in June, down 20, or 1.55%, from 1,288 pounds a year earlier but up eight, or 0.63%, from the average of 1,260 pounds.
Exit weights of steers and heifers may trend higher in August. The five-year averages of both trend higher for the rest of the year, although steers tend to decline in September.
DAYS ON FEED RISE
The number of days that July closeouts spent on feed rose for steers and heifers, a counter-seasonal move for both.
July steer closeouts spend 195 days on feed, compared with 189 in June, 183 in July 2022 and the previous five-year average of 178.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $182.39 per cwt to $184.00, compared with last week’s range of $178.95 to $187.74 per cwt. FOB dressed steers, and heifers went for $283.68 per cwt to $284.82, compared with $279.95 to $289.61.
The USDA choice cutout Monday was down $0.39 per cwt at $305.32 while select was up $0.29 at $283.41. The choice/select spread narrowed to $21.91 from $22.59 with 85 loads of fabricated product and 28 loads of trimmings and grinds sold into the spot market.
The USDA said basis bids for corn from feeders in the Southern Plains were up $0.05 to $0.10 at $1.60 to $1.75 a bushel over the Dec corn contract, which settled at $4.71 1/2 a bushel, down $0.04 3/4.
The CME Feeder Cattle Index for the seven days ended Friday was $252.75 per cwt, down $0.64. This compares with Monday’s Sep contract settlement of $254.25 per cwt, down $3.12.