New Holland, PA Fri Nov 23, 2012 USDA- Ag Market News
Lancaster Weekly Cattle Summary for week ending Friday, November 23, 2012
This Week: 2144 1259
Last Week: 3386 1730
Last Year: 1817 1250
This week in Lancaster County slaughter steers sold 2.00 higher in the
early week auctions. Demand was good on an active trade. Early week supplies
were moderate. Few additional cattle were moved forward to be marketed prior
to the Holiday. Slaughter cow prices were off slightly this week dropping
1.00/cwt on average. Direct trades in the Midwest were very light early in
the week with Nebraska and Colorado trading a light volume of cattle at
128.00/cwt Live. Trade will most likely resume after the Holiday on Friday
afternoon or over the weekend. The boxed beef market increased this week
adding 1.87/cwt to Choice cutout values from last Friday to this Wednesday`s
close of 194.89/cwt. It continued this trend adding another 1.10/cwt Friday
morning. The Choice/Select spread broke past the 20.00/cwt mark on Tuesday
and continued to spread even wider on Friday to $21.69. The premium for
Choice carcasses is being driven by forward marketing arrangements for the
Christmas Holidays. In these instances, end-users don't necessarily settle
on a price but a volume of product to be valued on a formula basis,
typically a plant weighted average. It is likely the spread will contract
after orders are filled. Retail beef prices hit a record high last month as
all-fresh beef averaged out at $4.77/lb. This is 6.1% higher than last year.
Choice beef independently averaged 5.03/lb which is the 4th highest price
on record and 2% higher than last year. Pork prices increased 0.5% over last
year to 3.48/lb on average. Whole broilers experienced the sharpest increase
in price rising 16.6% higher than a year ago to 1.53/lb, a new record.
Composite broilers retailed at an average of 1.87/lb, 3.5% higher than a
year ago. Protein prices have undoubtedly moved higher this past year,
responding primarily to the back to back droughts of 2011 and 2012. The EPA
is under scrutiny by several entities across the livestock, poultry, and
dairy sector for its ill repute in denying mandates to waive ethanol
blending requirements under the renewable fuel standards. Petitioners have
argued that ethanol production, the quickest emerging and largest end-user
of the US corn crop, has increased feed cost through its intentional demand
to use over 40% of the US corn crop. They argue that this has placed undue
hardship on the livestock sector as well as second handedly raised the cost
of retail meat and milk. Defenders of the RFS claim their required usage of
US corn to meet blending requirements has minimal influence on the price of
corn and faults the drought for the reduction in supply and increase in
price. Regardless, corn prices have hit all-time highs this past year and
until next year`s crop is in the ground relief from high feed prices is
unlikely. All cattle markets are priced per cwt with exception of dairy
cattle purchased on a per head basis.
For detailed cattle quotations refer to web addresses:
http://www.ams.usda.gov/mnreports/LN_LS140.txt (New Holland Monday)
http://www.ams.usda.gov/mnreports/LN_LS142.txt (New Holland Thursday)
http://www.ams.usda.gov/mnreports/LN_LS146.txt (Vintage Monday)
http://www.ams.usda.gov/mnreports/LN_LS141.txt (Vintage Tuesday)
Slaughter Steers: High Choice and Prime 3-4 1320-1535 lbs 126.50-130.00.
Choice 2-3 1240-1610 lbs 122.00-125.00, muddy 118.50-121.50. Select 2-3
1030-1455 lbs 116.00-121.00.
Slaughter Holsteins: High Choice and Prime 3-4 1350-1650 lbs 108.50-
114.25. Choice 2-3 1350-1600 lbs 106.00-109.75. Select 2-3 1250-1550 lbs
Slaughter Heifers: Choice 2-3 1180-1460 lbs 119.50-121.50. Select 2-3
1165-1280 lbs 115.00-118.00.
Percent Lean Avg. Dressing High Dressing Low Dressing
Premium White 65-75 69.50-73.00 73.00-79.00 63.50-66.50
Breakers 75-80 68.00-72.50 72.50-79.00 61.00-68.00
Boners 80-85 63.00-69.50 69.50-78.00 58.00-63.00
Lean 85-90 62.00-69.50 69.50-74.00 55.00-62.00
Slaughter Bulls: Slaughter Bulls: Yield Grade 1 925-1920 lbs 86.00-91.50,
high dress 96.00-106.00, very high dress 109.00-120.00, low dress 77.00-
Calf Summary: This week in Lancaster County, Holstein Bull calves sold
steady to 5.00 higher with good demand. Heifers sold weak with weak demand.
Receipts were lighter this week in response to the holiday shorten trade
week. Composite veal carcass values for the Northeast United States was
quoted from 340.00-375.00/cwt last week with a weighted average value of
359.23/cwt (Hide-Off). All prices per cwt.
For detailed veal market information refer to the link below:
http://www.ams.usda.gov/mnreports/lswveal.pdf (National Veal Summary)
Monday- Holstein Bull Calves: Number 1 95-125 lbs 115.00-130.00; 85-90 lbs
110.00-120.00. Number 2 95-130 lbs 100.00-117.00; 80-90 lbs 90.00-105.00.
Number 3 75-120 lbs 65.00-85.00. Utility 70-110 lbs 35.00-66.00; 55-65 lbs
12.00-35.00. Holstein Heifers: Number 1 95-130 lbs 100.00-120.00. Number 2
75-120 lbs 50.00-100.00. Non-Tubing/Utility 70-115 lbs 35.00-65.00; 60-65 lbs
Tuesday- Graded Holstein Bull Calves: Number 1 123 lbs 105.00; 113 lbs
117.00; 95-103 lbs 126.00-131.00; 90 lbs 95.00. Number 2 113 lbs 117.00;
102-112 lbs 105.00-110.00; 90-95 lbs 90.00-97.00; 83 lbs 70.00. Number 3 83-
108 lbs 55.00-60.00; 74 lbs 30.00. Utility 92-107 lbs 30.00-40.00; 72-82 lbs
15.00-25.00. Graded Holstein Heifers: Number 1 92-102 lbs 172.00-175.00; 83
lbs 100.00. Number 2 91 lbs 127.00; 75-82 lbs 60.00-80.00. Non-tubing 85-90
lbs 30.00-40.00; 63-75 lbs 12.00-20.00.
Dairy Report: (Receipts: 428)
Compared to last week, dairy cows and bred heifers sold higher on good
demand. Wednesday's supply included 169 fresh milking cows, 58 short-bred
cows, 29 springing cows, 23 short-bred heifers, 64 springing heifers, 58 open
heifers, and 20 bulls. One hundred percent of reported supply Holsteins
unless otherwise noted. All sales sold on a per head basis.
Cull Cows: 600.00-1075.00
Springing Cows: (7-9 months bred)
Bred Cows: (4-6 months bred)
Short Bred Cows: (1-3 months)
Short Bred Heifers: (1-3 months):
Bred Heifers: (4-6 months):
Springing Heifers (7-9 months):
Bulls: 300-600 lbs 425.00; 600-900 lbs 775.00-825.00; 900-1200 lbs 850.00-
925.00; 1200-1500 lbs 1125.00-1250.00. Jersey: 900-1200 lbs 575.00-600.00.
Source: USDA Dept of Ag Market News, New Holland-Lancaster County, PA
Levi Geyer, OIC / Cell 717-406-7350
John Stacy, Market Reporter / Office 717-354-2391
Lancaster, PA County Weekly Cattle Summary
J.K. Reid Farrownest
JK Reid Inc.