Closeouts of fed cattle from Kansas feedlots in March dropped seasonally to a level slightly less than the 2019-2923 average but continued to be more than March 2924.
The data came from the Livestock Marketing Information Center, which was compiled from information gathered by the Kansas State University Extension service. The Extension service surveys a set of select feedlots around the state designed to give them the information needed to construct the activity of the “average” Kansas feedlot. The information then is funneled to the LMIC, which compiles it and publishes it on its website.
MARCH CLOSEOUTS DOWN
March sales of fed cattle to beef packing plants, often called closeouts since the cattle are closed out of the feedlot’s books, from that “average” feedlot numbered 3,671 head, down 1,349, or 26.9%, from 5,020 in February, up 350, or 10.5%, from 3,321 a year ago and down 18, or 0.49%, from the previous five-year average of 3,689.
For comparison, US feedlot closeouts in March totaled 1.725 million head, up 92,000, or 5.63%, from 1.633 million in February and up 18,000, or 1.05%, from 1.707 million a year ago.
If seasonal trends hold, Kansas feedlot closeouts should drop to an annual low in April before rebounding to the August high. Last year, however, closeouts took a small bump in April before dropping again in May and then rising to the summer high in July.
FINAL WEIGHTS REMAIN HIGH
The average final weight of fed cattle from that average Kansas feedlot in March was 1,493 pounds, down eight, or 0.53%, from February’s 1,501 pounds but up 79 pounds, or 5.59%, from 1,414 a year earlier and up 89, or 6.34%, from the previous five-year average of 1,404 pounds.
Seasonally, feedlot exit weights from the average Kansas feedlot should not have taken a bounce in February. March’s decline from February is seasonal, and if trends hold, another decline could be coming in April to the annual monthly low.
Last year, the annual low was in March, but exit weights showed more of a rounded bottom on a line graph before rebounding in May.
DAYS ON FEED DOWN
The average number of days fed cattle that were closed out in March spent on feed at the average Kansas feed yard made an unseasonal dip, ending well below last year or the average.
Days on feed were 175, down three, or 1.69%, from 178 in February, down 21, or 10.7%, from 196 last year and down 14, or 7.41%, from the 2019-2023 average of 189.
CTTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers last week ranged from $217.68 per cwt to $217.85, compared with the previous week’s range of $212.00 to $219.77 per cwt. FOB dressed steers, and heifers went for $340.22 per cwt to $342.50, compared with $329.37 to $346.08.
The USDA choice cutout Monday was up $0.67 per cwt at $343.57 while select was up $2.72 at $328.07. The choice/select spread narrowed to $15.50 from $17.55 with 67 loads of fabricated product and 14 loads of trimmings and grinds sold into the spot market.
The USDA-listed the weighted average wholesale price for fresh 90% lean beef was $375.64 per cwt, and 50% beef was $105.84.
The USDA said basis bids for corn from feeders in the Southern Plains were $1.16 to $1.26 a bushel over the Jul corn contract, which settled at $4.54 1/4, down $0.14 3/4.
The CME Feeder Cattle Index for the seven days ended Friday was $293.40 per cwt, down $2.98. This compares with Monday’s May contract settlement of $296.07, up $1.12.