Kansas feedlot sales to beef packers, called closeouts, took a seasonal upward swing in May, but the total remained less than last year or the 2017-2021 average.
Final weights, however, turned downward in an unseasonal move.
The data is gathered by the Kansas State University Extension service from select feedlots around the state. The results are turned over to the Livestock Marketing Information Center in Denver where it is compiled to yield the activities of the “average” Kansas feedlot for the month and then published on the LMIC website.
CLOSEOUTS MOVE UP
The “average” Kansas feedlot sold 3,486 slaughter-ready steers to beef packers in May, up 402, or 13.0%, from 3,084 in April but down 311, or 8.19%, from 3,797 a year ago and down 801, or 18.7%, from the previous five-year average of 4,287.
The number of heifers closed out by the average Kansas feed yard in May totaled 2,635 head, up 652, or 32.9%, from April’s 1,983, up 375, or 16.6%, from 2,260 a year ago but down 331, or 11.2%, from the 2017-2021 average of 2,966.
Monthly steer closeouts in Kansas tend to rise through August, followed by a drop-off into October before rising into December. Heifers tend to have a seasonal peak in July followed by a drop in August before rising into December.
EXIT WEIGHTS DECLINE
The average weights of steers and heifers leaving Kansas feedlots in May. It was a counter-seasonal move for both.
For steers, the average exit weight from the average Kansas feedlot was 1,400 pounds, down six, or 0.43%, from 1,406 in April, down 22, or 1.55%, from 1,422 a year ago but up 12.2, or 0.88%, from the 2017-2021 average of 1,387.8.
The average exit weight for heifers in May was 1,276 pounds, down five, or 0.39%, from 1,281 a month earlier, down 18, or 1.39%, from 1,294 a year earlier but up 22.4, or 1.81%, from the previous five-year average of 1,253.6 pounds.
Exit weights for steers and heifers from Kansas feed yard tend to rise in May, on their way to their annual peaks in December after a brief dip in June.
DAYS ON FEED VARY
The number of days May closeout cattle spent on feed varied. Steers spent an average of 190 days on feed, the same as those exiting in April, down one from a year earlier but up from the 2017-2021 average of 187.2.
Heifers exiting Kansas feedlots in May spent an average of 187 days on feed, up from 180 a month earlier, up from 181 a year earlier and up from the previous five-year average of 179.4 days. This is not totally unusual because heifer days on feed tend to peak annually in June.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $179.85 per cwt to $179.98, compared with last week’s range of $177.10 to $190.00 per cwt. FOB dressed steers, and heifers went for $282.79 per cwt to $283.71, compared with $280.53 to $289.54.
The USDA choice cutout Monday was down $3.11 per cwt at $313.79 while select was off $3.30 at $282.33. The choice/select spread widened to $31.46 from $31.27 with 83 loads of fabricated product and 23 loads of trimmings and grinds sold into the spot market.
The USDA said basis bids for corn from feeders in the Southern Plains were $1.75 to $1.95 a bushel over the Sep corn contract, which settled at $4.92 1/4 a bushel, up $0.05.
The CME Feeder Cattle Index for the seven days ended Friday was $238.66 per cwt, up $7.45. This compares with Monday’s Aug contract settlement of $246.25 per cwt, up $0.82.