Compared to last week: Feeder steers and heifers too lightly tested to allow any meaningful price comparisons as there was only 1 reported auction this week. Demand good to very good as cattle feeders are eager to place yearlings on feed however they are very mindful of flesh condition as feed costs are higher than last year. CME Live Cattle futures have not lent any support to the feeder cattle market as the cash fed cattle market in anywhere from 7.00 to 10.00 over the futures. The fed cattle market has firmed up, and held those levels, at a time where many expected the market to be much lower. Because of this cattle feeders have more optimism that the coming months will also be better than what the futures contracts are estimating but they are also somewhat skeptical and are being careful to not get cattle bought too high. Slaughter cows steady to 2.00 lower, bulls 1.00 to 2.00 higher. Supply included: 76% Feeder Cattle (54% Steers, 46% Heifers, 1% Bulls); 24% Slaughter Cattle (68% Steers, 4% Dairy Steers,
10% Heifers, 16% Cows, 1% Bulls). Feeder cattle supply over 600 lbs was 92%.
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