Kansas feedlot closeouts declined in March in a slightly counter-seasonal move, dipping below the 2017-2021 average but staying above those of March 2022, according to statistics gathered by the Kansas State University Extension service and compiled by the Livestock Marketing Information Center in Denver.
The data is collected from feedlots around the state, selected for various properties like size. It is then turned over to the LMIC, which extrapolates the information to come up with the performance of an “average” Kansas feedlot for the month. The results then are published on the LMIC website.
CLOSEOUTS DECLINE
March’s sales to packers from the average Kansas feedlot totaled 3,708 head, down 851, or 18.7%, from February’s 4,559, up 888, or 31.5%, from last year’s 2,820 and down 562, or 13.2$, from the previous five-year average of 4,270.
On average, for the 2017-2021 period, Kansas feedlot closeouts climb a bit in March from February, but the increase is so slight that a downtrend year is not out of the ordinary by much. Last year, March closeouts around the state were the second lowest of the year, eclipsed only by October.
The average seasonal low for closeouts in Kansas comes in April, the data shows. From there, closeouts rise to the August high before dropping into October’s low.
Last year, Kansas feedlot closeout trends tended to follow the average in direction with only a couple of outliers – March and July – when they declined when the average rose slightly.
FINAL WEIGHTS DECLINE SEASONALLY
The final weights of steers exiting the average Kansas feedlot in March declined along with the seasonal trend, the data showed. Weights remained in the zone between last year and the previous five-year average, however.
Exit weights from that average Kansas feedlot in March averaged 1,404 pounds, down 31, or 2.16%, from February’s 1,435 pounds, and down 13, or 0.92%, from last year’s 1,417 pounds, but up 12.6 pounds, or 0.91%, from the 2017-2021 average of 1,391.4 pounds.
If final weights continue to follow the seasonal trend, they will bottom in April and rise from there into the December high with a minor dip in September. Last year, exit weights remained higher than the five-year average until December when they dropped sharply through the average.
DAYS ON FEED RISE
The number of days steers exiting Kansas feedlots in March spent on feed continued to climb in March, holding above last year and the 2017-2021 average, the data showed.
Steers being moved to the packers in March averaged 197 days on feed, up seven, or 3.68%, from 190 in February, up six, or 3.14%, from 191 a year ago and up 16.4, or 9.08%, from the previous five-year average of 180.6.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $171.00 per cwt to $179.10, compared with last week’s range of $167.24 to $183.37 per cwt. FOB dressed steers, and heifers went for $271.56 per cwt to $277.01, compared with $272.57 to $282.43.
The USDA choice cutout Wednesday was down $0.51 per cwt at $306.87 while select was down $0.35 at $284.54. The choice/select spread narrowed to $22.33 from $22.49 with 117 loads of fabricated product and 21 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 $1.73 to $1.85 a bushel over the Jul corn contract, which settled at $5.94 a bushel, up $0.09 1/4.
The CME Feeder Cattle Index for the seven days ended Tuesday was $199.49 per cwt, up $0.03. This compares with Wednesday’s May contract settlement of $205.37 per cwt, down $0.55.