Kansas feedlot fed steer sales to packers, or closeouts, dropped to an annual 2024 low in November but could climb again with December data.
The information came from a Kansas State University Extension service survey of select feedlots around the state, the information gathered is turned over to the Livestock Marketing Information Center in Denver for compilation and publication as an “average” Kansas feedlot.
NOVEMBER STEER CLOSEOUTS SET 2024 LOW
November fed steer closeouts from that “average” Kansas feedlot totaled 3,118 head, down 429, or 12.1%, from October’s 3,547 and down 197, or 5.94%, from 3,315 in November 2023 and down 522, or 14.3%, from the 2018-2022 average of 3,640 head.
The previous 2024 low for the average Kansas feedlot fed steer closeout was in May at 3,281 head. The annual low in 2023 was in April at 3,084 head, and the previous five-year average annual low was in October at 3,640 head.
It’s evident, then, that there are two times each year when the average Kansas feedlot has lower fed steer closeouts – spring and fall. There are, then, two times each year when that average Kansas feedlot has larger steer closeout numbers – summer and winter.
Fed steer final weights in November dipped a little from the annual high in October but remained higher than the same month in 2023 and the 2018-2022 average for the month.
The average Kansas fed steer in November weighed 1,501 pounds, down nine, or 0.60%, from the 2024 high in October of 1,510 pounds but up 54, or 3.73%, from November 2023’s 1,447 pounds and up 43, or 2.95%, from the previous five-year average of 1,458 pounds.
NOVEMBER HEIFER CLOSEOUTS PLUNGE
Fed heifer closeouts from the average Kansas feedlot in November totaled 1,941 head, 817, or 29.6%, less than October’s 2,758 head and 677, or 25.9%, less than the previous 2024 low of 2,618 head in June. November’s heifer closeout data also was 42 head, or 2.12%, less than the 2023 low of 1,983 head in April and 406 head, or 17.3%, fewer than the previous five-year average of 2,347 head, also in April.
There is much less seasonality to heifer closeouts from Kansas feedlots than there is with steers. If there is a pattern, it is that there is a low in spring with a smaller dip in mid-summer. Peaks seem to come in July and in the fall and winter.
The average final weights of fed heifers coming out of Kansas feedlots in November was 1,345 pounds, up from 1,326 in October and the monthly high for 2024. The previous high was in September at 1,342 pounds.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $203.52 per cwt to $209.26, compared with last week’s range of $201.58 to $204.93 per cwt. FOB dressed steers, and heifers went for $316.06 per cwt to $327.24, compared with $314.56 to $321.61.
The USDA choice cutout Wednesday was down $1.91 per cwt at $330.54 while select was off $1.29 at $320.67. The choice/select spread narrowed to $9.87 from $10.49 with 144 loads of fabricated product and 16 loads of trimmings and grinds sold into the spot market.
The USDA-listed weighted average wholesale price for fresh 90% lean beef was $364.34 per cwt, and 50% beef was $115.05.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.21 to $1.31 a bushel over the Mar corn contract, which settled at $4.97, up $0.11 3/4.
The CME Feeder Cattle Index for the seven days ended Tuesday was $279.45 per cwt, up $0.39. This compares with Wednesday’s Jan contract settlement of $280.55, down $1.27, and Mar’s $275.27, down $2.97.