Will We Have A Fourth-Quarter Beef Price Dip Ahead

By Victoria G. Myers
Progressive Farmer Senior Editor

What do cow/calf producers have to look forward to as the beef market slides into its fourth quarter? Despite an unpredictable political climate, ongoing tariffs, herd expansion and increased feedlot supplies, the fall outlook is surprisingly mediocre.
Expect seasonal price swings. But, to use Oklahoma ag economist Derrell Peel’s word, they will be “modest.” The beef market continues to hold up reasonably well thanks to demand. By mid-year, average prices reported at auctions across the country averaged between $140 per cwt to as much as $191 per cwt (500-to-550-pound steer). The higher prices were popping up where 90% or more of the calves weighed 600 pounds or more. Last year, the average price for a 500-to-550-pound weaned calf was about $150 per cwt.
Peel expects, at most, a 4% to 6% price dip in the fourth quarter for feeder calves compared to 2017 levels. He points out that year ended on a stronger-than-expected note, and “given that, I really see this as holding steady.”
Recently back from China, where Peel taught a group of business students, the beef specialist says uncertainty about the trade environment with that country will have market implications. For beef, however, those effects will be more indirect.
“Markets don’t like uncertainty, so I believe these tariffs have already done some damage to beef markets. It remains to be seen how much damage,” Peel says. He explains, “Most of the tariffs are not very significant for beef. The Chinese put tariffs on U.S. beef as part of a trade retaliation move. The U.S. beef industry exports almost nothing to China. Granted, this will make it harder going forward, but we exported less than 1% of U.S. beef production to China last year. So, the direct impacts at this point are relatively small. I am concerned moving forward, however.”
That concern is tied to a likely hit from the pork and poultry industries, where producers are projected to end the year at record levels.
In the case of pork, politics are playing an unexpected role in the future producers can expect. China imposed a 25% tariff on U.S. product, a $1.1-billion market in 2017. The pork industry reported a 3.4% increase in hogs/pigs inventory mid-year, with new records expected for litter rates, now at 10.63 per litter. Breeding inventory alone increased by about 3%, or 200,000 head.
Broiler production is also projected to hit record levels. By mid-year, production outlooks had increased 45 million pounds for the second and third quarters, and the annual total was expected to come in around 42.495 billion pounds. For 2019, projections add another 60 million pounds to those numbers.
It all adds up to a lot of protein. Per-capita consumption was projected to end 2018 up by 1.3%, hitting the 217.4-pound mark. In 2017, the level was 214.1 pounds.
As meat supplies have the potential to increase significantly at the domestic level, there looms the possibility of a real price-breaking surplus.
“It’s important to watch this external environment,” Peel says. “Policy and trade turbulence can play out several different ways as we move forward. Watch the potential for more tariffs, policy and impacts from exchange rates. Right now, the biggest potential threat to the beef market is coming from the pork side in that it is more directly impacted by these tariffs, and we’ve got record pork production.”
The uncertainty may have some beef producers tapping the brakes on herd expansion, but Peel believes it will be 2019 before the industry marks a peak in the U.S. beef cow herd.
Lance Zimmerman, CattleFax analyst, agrees expansion is slowly coming to an end but adds total cattle numbers will likely continue to climb for the next few years. In USDA’s mid-year report, cow numbers were at 32.5 million head – a near 1% increase over 2017.
“Additional culling in the fall will likely set up the nation’s cow herd to be around 32 million head by January 2019,” Zimmerman reports. “The preliminary 2018 calf-crop estimate is 36.5 million head, which is 1.9% larger than 2017. With an additional 600,000 head born during the first half of 2018, the fall calf run should continue to see growth this year.”
Feedlots have seen strong supplies, with the inventory of steers and nonreplacement heifers (500 pounds and up) at 200,000 head, a 0.9% increase. Lighter calves (less than 500 pounds) were up by 2.7%.
This year, about 75% of the calf crop will come from fall weaning operations, Zimmerman adds. “As we look at our price projections, weaned calves are softer into that October time frame compared to where they were mid-year. So, any producer with an opportunity to forward-contract his calves through local pricing or local relationships, or a video auction market should do it.”
While prices for feeders were at a premium relative to the fed cattle market through the summer, producers should expect those premiums will tighten moving into September and October. This is when that first group of fall weaned calves begin to hit the auction markets.
Like Oklahoma’s Peel, Zimmerman says there are still likely to be market impacts from trade disruptions moving forward, which are hard to predict.
“As we look at the situation facing all protein markets relative to trade disruptions that could exist with these tariff introductions and even just discussions of tariffs, the question is, ‘How should the market adjust?’ There is a long- and a short-term answer to that,” he says.
“In the short-term, the market has adjusted a lot of commodity prices lower. Part of that adjustment has been a response to the unknown. Markets hate unknowns, and these tariffs introduce a lot of unknowns. Hogs and soybeans took the biggest hits in futures because they have been front and center.
“But, consider that there is also a cost to market building, and that is where the long-term impacts begin to be seen,” he continues. “U.S. agriculture, and certainly beef, have built these key export markets. We could move to other markets, and this will be an opportunity for us to service other areas, but there is a cost to rebuilding distribution channels and a demand base.”

NAFTA Fight Looms In El Paso, TX Race

El Paso, Texas (Dow Jones) – When Texas Rep. Will Hurd attended a luncheon with a group of local CEOs here to update them on his activity in Washington, he paused when he got around to the subject of NAFTA.
The trade agreement with Mexico and Canada is a boon to the Republican congressman’s constituents along the border, and anxiety has grown about it since President Trump began seeking to revamp it.
“I shouldn’t say this,” Mr. Hurd said before likening his views on the Trump administration’s NAFTA negotiations to his sentiments on the football program at his alma mater, Texas A&M University, “I get excited, I get bummed. I get excited, I get bummed,” Mr. Hurd said.
The two-term congressman, whose district became a top target for Democrats after Hillary Clinton beat Mr. Trump here in 2016, already was trying to distance himself from Mr. Trump’s immigration policies, interactions with Russian President Vladimir Putin and criticism of the intelligence community leadership.
But it is the economic uncertainty surrounding Mr. Trump’s trade negotiations that could loom largest this fall in a district like Mr. Hurd’s that relies on NAFTA for trade across the border with Mexico. Mr. Hurd’s district includes about 800 miles of the southern border, more than any other district in the country.
It’s a political challenge that has emerged in other competitive House races this year, which complicate the GOP’s ability to hold its House majority. Democrats need a net gain of 23 seats to regain control of the chamber.
In Minnesota, the administration’s trade battles are hurting farmers concentrated in the southern half of the state while appearing to help the GOP and iron miners in the north. In Kentucky, Republican Rep. Andy Barr has expressed concern about the effect of Mr. Trump’s tariffs on his constituents, who have been hit by retaliatory tariffs, including one on soybeans imposed by China.
Aaron Viramontes, who runs a denim-producing firm in Far East El Paso, attended Mr. Hurd’s lunch with business leaders. Mr. Viramontes said he wanted more clarity from Washington on the future of NAFTA, which in the 1990s paved the way for his company to expand into Mexico.
“It’s confusion, and that’s holding us back from being able to understand NAFTA,” Mr. Viramontes said. “There’s no clarification right now. None.”
Mr. Hurd said in an interview that he views a recently reached tentative U.S.-Mexico trade deal as “moving in the right direction,” but thinks the overall rhetoric coming out of the White House on trade is misguided.
“The acute problem is NAFTA 2.0,” he said of the efforts to revamp the trade deal. “The chronic problem is people understanding the importance of international trade,” he said, noting that a Toyota pickup-truck assembly plant in San Antonio supports thousands of local jobs.
Many of the roughly two dozen House Republicans running in districts Mrs. Clinton won in 2016 are, to varying degrees, seeking daylight from a president unpopular with independents. There are signs the approach is working for Mr. Hurd; the Cook Political Report rates the race as leaning in his favor over his Democratic challenger, Gina Ortiz Jones, a former Air Force intelligence officer.
Mr. Hurd, unlike some GOP incumbents, also has not been outraised by his Democratic opponent. Through the end of June, Mr. Hurd had $2 million in cash-on-hand, compared to the $1.2 million in Ms. Ortiz Jones’ coffers.
Democrats acknowledge it is a challenge to oust Mr. Hurd despite the broader headwinds facing Republicans this year. “This has been a tough district,” said Manny Garcia, the deputy executive director of the Texas Democratic Party. “It takes a premier candidate, the infrastructure and this mood to all kind of work together.”
In a page out of Mr. Trump’s playbook, Ms. Ortiz Jones often personally takes to her Twitter account to chide Mr. Hurd.
She is also crisscrossing the sparsely populated and often Democratic-leaning pockets of West Texas, looking to boost turnout among her party’s base voters. She recently hosted an intimate town-hall style gathering at a worn-down Mexican restaurant that drew about seven attendees in Pecos, Texas, a town that is home to fewer than 10,000 people.
In attendance was Michelle Taylor, an English teacher in Pecos whose first-ever vote in a midterm election came in 2014, when she voted against Mr. Hurd in his first House campaign. She also voted against him in 2016. “I think this time will be different.” Ms. Taylor said, watching Ms. Ortiz Jones work the small gathering of supporters. “I mean, she’s great.”
In an interview, Ms. Ortiz Jones criticized Mr. Trump’s trade posture and Mr. Hurd’s wait-and-see approach to the NAFTA talks. “Many folks don’t just have the luxury to take the longer view on things,” said Ms. Ortiz Jones, who recently worked in the office of the U.S. Trade Representative evaluating the potential national security risks of foreign investments.
Some Republicans have said Mr. Trump took a political weight off Mr. Hurd by nailing down a preliminary deal with Mexico, even if Canada ends up excluded from a final free-trade agreement. Rep. Steve Stivers of Ohio, who is chairman of the House GOP campaign committee, said the tentative deal gave the incumbent a positive development to talk up on the trail.
“He’s in a tough position,” said Kenneth Flamm, an economist and a professor of public affairs at the University of Texas at Austin. “There’s a lot of flow back and forth across the border in terms of daily life. The whole region is economically integrated” with Mexico.

Advocates Say State Low-Carbon Fuel Policies Could Drive More Ethanol Demand

By Chris Clayton
DTN Ag Policy Editor

San Francisco (DTN) – Just a few blocks from the commotion and crowds at the Global Climate Action Summit, biofuel advocates gathered Sept. 13 to champion more low-carbon fuel standards that could take the country’s biofuels industry in new directions.
While the climate summit focused on all the various ways states, cities and businesses can commit to reducing greenhouse-gas emissions, the “Driving Decarbonization” event highlighted how biofuel demand can grow if more states adopt low-carbon fuel standards.
“The thought leadership is moving in that direction here, and we’ve been hearing from particular organizations and people involved with the Governors’ Biofuels Coalition that there are active discussions going on,” said Graham Noyes, executive director of the Low Carbon Fuels Coalition. “People are seeing how valuable California’s LCFS (low-carbon fuels standard) is. Midwest producers are asking that same question, ‘Why don’t we have this here?,’ and they are seeing the unfortunate instability in the RFS program and realizing that having a backup or supplemental program is a very good thing to have in times like now.”
Talk about low-carbon fuels standards comes, though, as ethanol plants are struggling with large supplies, tight margins and not enough product demand. Ergon BioFuels LLC, a subsidiary of Ergon Inc., announced it will close its 56.5-million-gallon ethanol plant in Vicksburg, Mississippi, in December.
“Ergon management has made significant investments at Ergo Biofuels over the years and had planned additional improvements to increase ethanol and corn oil yields going forward,’’ said Kris Patrick, Ergon COO. “Unfortunately, continued erosion in margins, coupled with underperforming production equipment and the economic challenges of being a destination plant, forced us to make this very difficult decision.”
Trying to boost demand through federal policy, traditional ethanol groups launched a Twitter campaign directed at President Donald Trump, EPA Acting Administrator Andrew Wheeler and Agriculture Secretary Sonny Perdue with hashtags, including #IWantMyE15 and #RFSWorks. Ethanol groups are continuing the push to get EPA to commit to year-round E15 sales. The annual summer restrictions on E15 ended on Sept. 15.
Gerard Ostheimer, a senior adviser for the group below50, said one of the issues with the RFS is its “static nature.” The RFS does not reward ethanol companies for reducing the carbon intensity of their production, which is why so many Midwest ethanol companies work to export their product to California.
“The carbon intensity of ethanol for a number of plants has been coming way down, but the way the RFS is currently structured, that never gets scored and they will never get a reward for that,” Ostheimer said.
Local motivations drive policies such as low-carbon fuel standards. California’s LCFS is focused on long-term reduction of greenhouse-gas emissions, but such policies would likely take different motivations in Midwest states that are the major source of most biofuels now.
“Certainly, the Midwest states have very strong ag policies and very strong economic policies and can see using this kind of policy structure that doesn’t require an annual appropriation, rewards efficiency and essentially keeps money in the state by sending fuel money to the feedstocks and the producers and all the related industries, that supports itself on the job and the economic side,” Noyes said. “To some degree, if the greenhouse-gas reduction is just an ancillary benefit, then great, it gets us there.”
Noyes noted California has become a leader in selling products such as E85, which has seen volumes triple in the state. “What’s happened is the economics work,” Noyes said. “You’ve got RFS, plus the LCFS and E85 typically selling at an 80-cent-a-gallon discount. So it’s the best place in the world to sell E85, and people are switching to it for economic reasons and we’re seeing 25% to 30% year-on-year growth every year.”
California service stations and convenience stores are adding 25 new flex-fuel stations every year, and the state can now consume roughly 1 billion gallons of E85. “The LCFS is driving that, and it can do the same for mid-level blends and E85 blends in the Midwest,” Noyes said.
Low-carbon fuel standards also have the support of health groups such as the American Lung Association. The group in California calculates long-term health benefits of low-carbon fuel standards in the state at $8.3 billion in avoided health impacts by 2025. That translates into reducing asthma attacks by more than 38,000 and avoiding more than 74,000 lost workdays to health issues. The American Lung Association wants to see more states embrace such standards.
Yet, more California startups are also trying to stem the tide of Midwest ethanol to keep California fuel dollars in the state. Companies are working on converting solid waste to biofuels, and at least one company is in the development stage for a sugar-cane ethanol plant. That facility, though, would need farmers in California’s Imperial Valley to convert at least 50,000 acres to sugar-cane production to sustain the operation.
“California exports about $2 billion annually to places like Iowa and Nebraska – I know some of you guys are from there – and our argument as a state is the only time those dollars come back into the economy is January and February when those guys are freezing and they want to see the Santa Monica Pier or the Golden Gate Bridge,” said David Rubenstein, president and CEO of California Ethanol and Power. “So our argument is you keep some of these dollars in the state and the economic reverberation of that is pretty strong. It creates new taxes and job opportunities.”
When biofuel companies develop new technologies in advanced biofuels or cellulosic products, a pricing mechanism helps drive demand. That was something companies expected to see from the Renewable Fuel Standard, but the fluctuation companies have seen in renewable identification numbers (RINs) has taken away some of the market.
“That’s where individual state programs can come in and fill that gap with their own pricing mechanisms to provide the value for the fuel,” said Shailesh Sahay, senior regulatory counsel for ethanol producer Poet.
Sahay later pointed out state policy needs to be steady with its incentives, noting RIN prices under the RFS have moved from $1 to 20 cents a gallon just within this year. “That just doesn’t provide the right incentives for commercialization,” he said.
The “Driving Decarbonization” event was co-sponsored by the Biotechnology Innovation Organization (Bio), a major backer of the group below50, which came out of the Paris Accords as a global campaign to promote fuels that have emissions 50% below petroleum fuels. Next July, Bio will bring its World Congress on Biotechnology to Des Moines and below50 will hold an affiliated forum again promoting advanced biofuels and low-carbon fuel standards, said Stephanie Batchelor, a director for Bio.
“I think the Midwest is uniquely situated to have a regional LCFS, which is something we have not been able to have before,” said Batchelor.

Direct Receipts

Direct Receipts: 60,400

Texas 31,500. 87 pct over 600 lbs. 44 pct heifers. Steers: Medium and Large 1 FOB Current 600-625 lbs 163.81; 700-710 lbs 153.87; 750-775 lbs 152.53; 800-825 lbs 148.76; Oct 635 lbs 161.25; 650-675 lbs 160.91; 700-725 lbs 153.26; 750 lbs 152.40; 800 lbs 152.47; Nov 610 lbs 159.50; 725 lbs 150.75; 750-775 lbs 146.79; 800 lbs 148.04; Dec 750 lbs 144.35; Del Current 650-675 lbs 160.86; 700-725 lbs 156.18; 750-785 lbs 154.51; 825 lbs 151.95; Oct 650 lbs 162.84; 700 lbs 159.00; 750 lbs 156.50; 800-825 lbs 153.20; Nov 625 lbs 162.25; 775 lbs 150.95; 800-825 lbs 148.78; Dec 800-825 lbs 145.13; Jan 825 lbs 144.50. Medium and Large 1-2 FOB Current 550 lbs 159.89; 600 lbs 162.39; 675 lbs 156.86; 700-730 lbs 150.53; 750-780 lbs 149.32; 800-825 lbs 141.02; Oct 700 lbs 155.09; 750 lbs 148.53; 800 lbs 146.22; Del Current 595 lbs 152.83; 800-810 lbs 150.12; Oct 600 lbs 155.00 Mex; 720 lbs 157.00; 800-825 lbs 148.87; 850 lbs 146.50. Heifers: Medium and Large 1 FOB Current 625 lbs 155.00; 700-740 lbs 143.08; 750 lbs 138.00; Oct 600-625 lbs 153.68; 675 lbs 146.50; Nov 650 lbs 146.12; 700-725 lbs 140.73; 750-775 lbs 144.73; Dec 725 lbs 141.75; Del Current 700-740 lbs 146.31; 750-760 lbs 142.39; Oct 625 lbs 155.00; 725-735 lbs 144.72; Nov 650 lbs 148.65; 725 lbs 145.89; 750 lbs 145.18; Dec 650 lbs 152.50; 725 lbs 140.92; 750 lbs 145.00; Jan 725 lbs 140.90; 750 lbs 140.75. Medium and Large 1-2 FOB Current 650 lbs 145.41; 700 lbs 138.06; Del 580-585 lbs 147.81; Oct 600 lbs 141.00 Mex.

Oklahoma 3400. 100 pct over 600 lbs. 39 pct heifers. Steers Medium and Large 1 FOB Current 675 lbs 157.00; 750-780 lbs 152.14; Oct 650 lbs 158.95; 800 lbs 147.00; Nov 625 lbs 158.75. Medium and Large 1-2 FOB Sept 740 lbs 153.35; 825 lbs 147.87; Oct 700 lbs 155.50; Del Current 775 lbs 152.00. Heifers: Medium and Large 1 FOB Current 900 lbs 130.00; 950 lbs 130.00; Oct 625 lbs 151.50; Oct 725 lbs 143.00. Medium and Large 1-2 FOB Sept 650 lbs 141.88; Nov 650 lbs 145.65.

New Mexico 8000. 75 pct over 600 lbs. 45 pct heifers. Steers: Medium and Large 1 Oct 800 lbs 151.37; Nov 800 lbs 148.37. Medium and Large 1-2 Current 800-810 lbs 148.35; Oct 600 lbs 150.00 Mex; 720 lbs 156.07; Oct 800-825 lbs 147.63. Heifers: Medium and Large 1 Current 725 lbs 139.50; 750-760 lbs 139.26; Oct 735 lbs 143.05; Nov 750 lbs 142.87. Medium and Large 1-2 Oct 600 lbs 136.00 Mex.

Kansas 2900. 100 pct over 600 lbs. 91 pct heifers. Steers: Medium and Large 1 Current 750 lbs 153.00. Medium and Large 1-2 Current 725 lbs 155.00; Nov 800 lbs 147.75. Heifers: Medium and Large 1 Current 700-725 lbs 145.70; 750 lbs 144.00; Nov 725 lbs 144.23; Dec 650 lbs 151.00; 725 lbs 143.00. Medium and Large 1-2 Dec 725 lbs 139.90; Jan 725 lbs 139.90.

National Feeder Cattle Summary

St. Joseph, MO — September 14
National feeder cattle receipts: 184,400

Calves and yearlings sold fully steady to $5 higher with many major markets compared to two weeks ago coming back from Labor Day Holiday. Continued good demand remains for calves and yearlings with active bidding have helped to keep the uptrend intact. We are entering the time of year where every week we are starting to see more calves coming to market. With an abundant feed supply of corn and winter wheat grazing around the corner will help to keep cost of gains low and demand very good for feeders. Big Crops usually get bigger and corn and soybean yields will be no exception this year as Sept. 12 USDA crop report was released with corn production forecast at 14.8 billion bushels up 2 percent from August and 2 percent higher from last year. Corn acres for harvest are forecast at 81.8 million acres unchanged from August and down 1 percent from last year. Corn yields are expected to average 181.3 bpa, up 2.9 bushels from August forecast and up 4.7 bushels from 2017. If realized will be the highest yield on record for the U.S. Soybean production is forecast at a record 4.69 billion bushels up 2 percent from August and 7 percent from last year. Soybean yields are expected to average a record high 52.8 bpa, up 1.2 bushels from August and 3.7 bushels from last year. CME cattle futures responded with sharp triple-digit gains on Sept. 12 following aggressive losses in corn trade and again made sharp triple-digit gains on Sept. 14 which should benefit the fed cattle market. The market continues to be active on loads of yearlings as in Imperial, NE on Sept. 11 sold near 450 hd of 800-850 lb yearling steers averaging 825 lbs sold with a weighted average price of $158.65, with an offering of 248 hd weighing 833 lbs at $159.50. Cattle Country Video out of Torrington, WY held their video auction on Sept. 11 selling near 18,000 head with active bidding including 240 hd of value added steers out of Wyoming for November delivery weighing 420 lbs at $224 and 240 head of the heifer mates averaging 410 lbs at $198. The tone of the fed cattle market seems to be on a gradual improvement with very good beef demand from the consumer and exports. No doubt, this year packers and retailers have benefited far more than the cattle feeder has, as we work through plentiful summer supplies. Slaughter levels continue to clip along with near 650,000 expected for the week. The box-beef cut-out continues to slip seasonally lower as it dropped sharply and continues to decline. Looking at the post Labor Day retail landscape usually undergoes a transition from summer to cooler weather. While heat still lingers in many parts of the country beef items continues to hold onto their spot in the meat case and retail ads. Hurricane Florence headed for the Carolina’s and has done a lot of damage. For livestock the one area of concern is the pork industry with major hog producing and processing facilities in the region. At this time we can only apprehend the potential risk from such a storm and its impact on the east coast. Choice boxed-beef on Sept. 14 closed .23 cents higher at $204.27 with Select .77 cents lower at $196.47 compared to Sept. 7 close with Choice at $206.56 and Select at $197.09.

Texas 5800. 58 pct over 600 lbs. 41 pct heifers. Steers: Medium and Large 1 300-350 lbs (347) 188.05; 400-450 lbs (442) 177.74; 450-500 lbs (471) 172.55; 500-550 lbs (534) 159.16; 550-600 lbs (576) 157.60; 600-650 lbs (642) 161.82; 650-700 lbs (668) 160.08; 700-750 lbs (714) 157.56; few loads 763 lbs 160.00; 800-850 lbs (821) 151.46; few loads 863 lbs 153.35; 900-950 lbs (926) 142.02; few loads 954 lbs 136.00. Medium and Large 1-2 550-600 lbs (579) 147.85; 650-700 lbs (653) 152.75; 750-800 lbs (764) 153.00. Heifers: Medium and Large 1 400-450 lbs (436) 158.74; 450-500 lbs (477) 148.39; 500-550 lbs (525) 146.97; 550-600 lbs (562) 142.53; 600-650 lbs (617) 143.42; 650-700 lbs (674) 150.48; 700-750 lbs (737) 135.46. Medium and Large 1-2 450-500 lbs (467) 141.32; 500-550 lbs (516) 130.48; 700-750 lbs (718) 140.59; 750-800 lbs (758) 142.77.

Oklahoma 30,900. 57 pct over 600 lbs. 39 pct heifers. Steers: Medium and Large 1 300-350 lbs (320) 203.09; 350-400 lbs (379) 191.60; 400-450 lbs (421) 179.54; 450-500 lbs (469) 174.99; 500-550 lbs (528) 162.10; 550-600 lbs (578) 160.95; 600-650 lbs (635) 163.32; 650-700 lbs (676) 162.90; 700-750 lbs (732) 156.88; 750-800 lbs (775) 151.70; 800-850 lbs (829) 148.33; 850-900 lbs (857) 147.55; 900-950 lbs (916) 141.39; 950-1000 lbs (972) 135.27; 1000-1050 lbs (1026) 135.16. Medium and Large 1-2 300-350 lbs (335) 188.58; 350-400 lbs (376) 179.28; 400-450 lbs (425) 172.53; 450-500 lbs (481) 164.82; 500-550 lbs (531) 158.19; 550-600 lbs (571) 153.18; 600-650 lbs (624) 154.03; 650-700 lbs (682) 151.86; 700-750 lbs (730) 150.85; 750-800 lbs (781) 149.68; 800-850 lbs (822) 142.57; 850-900 lbs (866) 141.77; 900-950 lbs (927) 138.89; 950-1000 lbs (966) 137.53. Holstein Steers: Large 3 pkg 479 lbs 88.25; part load 535 lbs 87.41. Heifers: Medium and Large 1 300-350 lbs (323) 164.18; 350-400 lbs (377) 160.17; 400-450 lbs (421) 151.58; 450-500 lbs (472) 151.30; 500-550 lbs (521) 145.55; 550-600 lbs (574) 147.80; 600-650 lbs (623) 150.49; 650-700 lbs (671) 148.61; 700-750 lbs (721) 144.58; 750-800 lbs (770) 142.43; 800-850 lbs (824) 136.35; 850-900 lbs (886) 131.92; 900-950 lbs (913) 131.66; 1000-1050 lbs (1031) 120.85. Medium and Large 1-2 300-350 lbs (321) 154.79; 350-400 lbs (383) 154.19; 400-450 lbs (427) 149.16; 450-500 lbs (474) 147.20; 500-550 lbs (526) 145.14; 550-600 lbs (579) 141.72; 600-650 lbs (630) 143.60; 650-700 lbs (673) 142.53; 700-750 lbs (724) 139.65; 750-800 lbs (772) 135.86; 800-850 lbs (828) 133.74; 850-900 lbs (870) 132.43.

New Mexico 5400. 28 pct over 600 lbs. 44 pct heifers. Steers: Medium and Large 1 300-350 lbs (323) 207.86; 350-400 lbs (378) 192.76; 400-450 lbs (417) 181.58; 450-500 lbs (474) 170.13; 500-550 lbs (526) 159.67; 550-600 lbs (584) 153.68; 700-750 lbs (712) 154.21. Medium and Large 1-2 350-400 lbs (364) 188.12; 400-450 lbs (429) 180.78; 450-500 lbs (485) 166.17; 500-550 lbs (513) 162.24. Heifers: Medium and Large 1 300-350 lbs (332) 175.32; 350-400 lbs (376) 166.83; 400-450 lbs (425) 160.64; 450-500 lbs (466) 150.27; 500-550 lbs (525) 140.07; 550-600 lbs (569) 138.97. Medium and Large 1-2 400-450 lbs (421) 156.07; 450-500 lbs (465) 149.44; 500-550 lbs (523) 140.08.

Kansas 8300. 93 pct over 600 lbs. 43 pct heifers. Steers: Medium and Large 1 500-550 lbs (531) 181.47; 550-600 lbs (568) 173.85; 600-650 lbs (635) 169.68; 650-700 lbs (660) 167.63; 700-750 lbs (735) 161.13; 750-800 lbs (770) 158.45; 800-850 lbs (831) 155.41; 850-900 lbs (868) 151.72; 900-950 lbs (927) 149.02; 950-1000 lbs (972) 141.90; few loads 1007 lbs 140.60. Medium and Large 1-2 550-600 lbs (570) 162.33; 600-650 lbs (621) 154.38; 650-700 lbs (692) 150.49; 700-750 lbs (719) 148.38; 800-850 lbs (827) 149.75; 850-900 lbs (885) 144.95; 950-1000 lbs (980) 136.15. Heifers: Medium and Large 1 500-550 lbs (505) 161.53; 550-600 lbs (567) 157.68; 600-650 lbs (638) 156.43; 650-700 lbs (667) 154.33; 700-750 lbs (724) 147.92; 750-800 lbs (786) 145.11; 800-850 lbs (822) 141.94; 850-900 lbs (872) 137.74; 900-950 lbs (915) 136.78; 950-1000 lbs (972) 131.99. Medium and Large 1-2 450-500 lbs (475) 157.00; 500-550 lbs (539) 147.32; 550-600 lbs (584) 149.80; 600-650 lbs (640) 146.62; 650-700 lbs (672) 143.81; 700-750 lbs (736) 141.10; 750-800 lbs (777) 137.66; 800-850 lbs (805) 136.77.

Missouri 28,000. 44 pct over 600 lbs. 43 pct heifers. Steers: Medium and Large 1 250-300 lbs (274) 194.81; 300-350 lbs (327) 197.79; 350-400 lbs (378) 186.82; 400-450 lbs (427) 183.68; 450-500 lbs (475) 180.80; 500-550 lbs (525) 173.98; 550-600 lbs (575) 170.77; 600-650 lbs (624) 165.06; 650-700 lbs (676) 164.30; 700-750 lbs (723) 157.30; 750-800 lbs (772) 153.48; 800-850 lbs (826) 149.03; 850-900 lbs (872) 148.67; 900-950 lbs (919) 143.47; 950-1000 lbs (965) 141.53. Medium and Large 1-2 250-300 lbs (275) 189.54; 300-350 lbs (330) 185.80; 350-400 lbs (378) 178.57; 400-450 lbs (423) 166.89; 450-500 lbs (474) 165.93; 500-550 lbs (526) 163.48; 550-600 lbs (575) 158.25; 600-650 lbs (626) 155.19; 650-700 lbs (676) 151.75; 700-750 lbs (729) 148.57; 750-800 lbs (782) 143.69; 800-850 lbs (818) 142.68; 850-900 lbs (868) 137.08; pkg 945 lbs 137.00. Holstein Steers: Large 3 500-550 lbs (530) 89.13; 550-600 lbs (576) 84.84; few loads 736 lbs 88.85. Heifers: Medium and Large 1 250-300 lbs (279) 167.68; 300-350 lbs (335) 167.88; 350-400 lbs (374) 161.82; 400-450 lbs (428) 159.17; 450-500 lbs (476) 156.90; 500-550 lbs (526) 153.18; 550-600 lbs (580) 154.29; 600-650 lbs (624) 152.09; 650-700 lbs (669) 149.03; 700-750 lbs (717) 142.80; 750-800 lbs (771) 139.12; 800-850 lbs (812) 134.07; 850-900 lbs (867) 129.04. Medium and Large 1-2 250-300 lbs (278) 159.67; 300-350 lbs (332) 151.82; 350-400 lbs (377) 153.75; 400-450 lbs (426) 148.84; 450-500 lbs (478) 144.60; 500-550 lbs (524) 146.87; 550-600 lbs (569) 145.56; 600-650 lbs (621) 147.65; 650-700 lbs (669) 143.09; 700-750 lbs (718) 138.32; 750-800 lbs (779) 133.74; 800-850 lbs (822) 129.35; 850-900 lbs (875) 125.07.

Arkansas 4300. 20 pct over 600 lbs. 40 pct heifers. Steers: Medium and Large 1 300-350 lbs (330) 193.79; 350-400 lbs (369) 180.55; 400-450 lbs (423) 170.08; 450-500 lbs (471) 163.89; 500-550 lbs (521) 155.34; 550-600 lbs (577) 149.67; 600-650 lbs (621) 145.37; 650-700 lbs (666) 146.40. Heifers: Medium and Large 1 300-350 lbs (328) 159.99; 350-400 lbs (372) 150.15; 400-450 lbs (426) 140.66; 450-500 lbs (475) 139.81; 500-550 lbs (522) 135.73; 550-600 lbs (566) 134.09; 600-650 lbs (617) 131.47; 700-750 lbs (713) 134.87.






Friday, September 21, 2018 1:01 PM