LN_LS145 New Holland, PA Fri Jun 14, 2013 USDA- Ag Market News Lancaster Weekly Cattle Summary for week ending Friday, June 14, 2013 Cattle Calves This Week: 3041 1399 Last Week: 2602 1523 Last Year: 2566 1554 This week in Lancaster County, the slaughter steer market took a sizable decline. The largest decline was absorbed by premium quality steers typically purchased for the kosher trade. High-end Choice to Prime steers sold mostly 3.00-5.00 lower, while lower end Choice and Select cattle only realized a modest decline of 1.00-2.00/cwt. Overall demand was light from all ends of the trade, conventional and ethnic (kosher & hala). Slaughter cows backed off early in the week, trending 2.00-4.00 lower, but regained some market strength late in the week. Cow packs will soon aim towards filling orders for the 4th of July holiday, which typically calls for hamburgers on the grill. The box beef market continued its downward slide this week sheading another 1.00/cwt from the Choice cutout to close at 200.63/cwt Thursday. Thursday's close is approximately 6.00/cwt lower than two weeks ago, and nearly 11.00/cwt than the seasonal peak from a month ago. Cutout values are expected to find some bottom end support in the 198.00-200.00/cwt range. The summer sell-off occurred slightly earlier this year as wet weather, particularly in the heavy populated areas of the east, put a damper on beef sales. Despite the decline in beef prices, beef packers continue to post attractive margins of 40.00-50.00/head. Steer trade in the major feeding regions of the Midwest was inactive as of Thursday. Beef processors purchased plenty of cattle last week to carry them through most of this week, so trades may not occur until Friday afternoon or the weekend. The current asking price is 124.00/cwt or 5.00-6.00/cwt over the June board price. Packers are offering 120.00/cwt. Last week's sales were at 122.00-124.00/cwt. The steer market continues to trickle lower as cash sales migrate downwards towards to the June board price, which closed at 119.85/cwt on Thursday. Feeder cattle futures advanced this past week in reaction to a higher than expected "predicted" corn harvest in Wednesday's USDA World Agricultural Supply and Demand Estimates. There was nothing bullish about the report and investors abandoned their positions shortly after its release causing a notable decline in the corn and bean markets. Feeder cattle contracts took an inverse reaction advancing over 1.00/cwt across multiple contract months. USDA's Monday crop progress report reported 95% of the corn crop planted and calm weather early this week will likely allowed farmers to wrap things up before another round of storms moved through late in the week into this weekend. Thus far over 2/3 of the corn crop is rated in either good or very good condition. The futures market remains under a bearish tone as weak old crop exports weigh on nearby contracts and the potential for a bumper harvest pulls on the New Crop contracts. Thursday's close put CME June Corn at 6.435/bu, and December contracts at 5.3525/bu. Soybeans were at 15.1025/bu for the June and 13.0025 for November. Pennsylvania basis for corn is ranging from a positive 50-80 cents on the cash and flat to 25 cents over the December board for New Crop delivery. Beans are at flat to negative 30 cents on the cash and negative 35- 70 cents off the November board for New Crop. 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 1260-1610 lbs 122.00-125.00. Choice 2-3 1180-1605 lbs 120.00-125.00. Select 2-3 1045-1495 lbs 115.00- 120.00. Slaughter Holsteins: High Choice and Prime 3-4 1400-1630 lbs 109.00- 112.50. Choice 2-3 1350-1735 lbs 103.00-108.50. Select 1-3 1205-1650 lbs 97.00-103.00. Slaughter Heifers: Choice 2-3 1065-1495 lbs 114.50-119.50. Select 2-3 1045-1400 lbs 106.50-111.00. Slaughter Cows: (EARLY WEEK SALES) Percent Lean Avg. Dressing High Dressing Low Dressing Premium White 65-75 80.00-85.00 86.00-93.00 76.00-79.50 Breakers 75-80 75.00-80.00 81.00-88.00 71.00-75.00 Boners 80-85 72.00-79.00 79.00-82.00 67.00-72.00 Lean 85-90 68.00-73.00 73.50-76.00 60.00-67.50 Slaughter Cows: (LATE WEEK SALES) Percent Lean Avg. Dressing High Dressing Low Dressing Premium White 65-75 79.00-82.50 ----------- 75.00-78.50 Breakers 75-80 80.00-85.00 86.00-89.50 75.00-80.00 Boners 80-85 78.00-83.50 83.50-86.00 72.00-77.50 Lean 88-90 75.00-79.00 ----------- 64.00-74.50 Slaughter Bulls: Yield Grade 1 925-2305 lbs 92.00-97.00, high dress 102.00-112.00, low dress 85.00-92.00. Calf Summary: This week in Lancaster County, Holstein Bull calves sold 15.00-25.00 lower in the early part of the week, but advanced sharply higher by the end of the week as buyers struggled to fill orders on light supplies. Demand was light to moderate early in the week but good late in the week driven mostly by tight supplies. Heifers sold steady to weak with light demand. The Composite Veal Carcass Values for the Northeast United States was quoted from 330.00-354.00/cwt this week, with a weighted average value of 335.28/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 95-120 lbs 120.00-135.00; 80-90 lbs 100.00-110.00. Number 2 95-120 lbs 100.00-115.00; 80-90 lbs 80.00-95.00. Number 3 75-135 lbs 55.00-95.00. Utility 70-115 lbs 30.00-50.00. Holstein Heifer Calves: Number 1 90-105 lbs 120.00-125.00. Number 2 75-115 lbs 50.00-75.00. Utility/Non-Tubing 65-95 lbs 20.00-50.00. Tuesday- Graded Holstein Bull Calves: Number 1 120 lbs 109.00; 95-113 lbs 117.00-125.00; 90 lbs 102.00. Number 2 95-113 lbs 115.00-131.00; 90 lbs 105.00; 83 lbs 72.00. Number 3 95-109 lbs 80.00-83.00; 83 lbs 55.00; 75 lbs 30.00. Utility 84-106 lbs 45.00-52.00; 73 lbs 25.00. Graded Holstein Heifers: Number 1 93-115 lbs 100.00-107.00. Number 2 84-93 lbs 70.00-92.00. Utility/Non tubing 65-93 lbs 12.00-42.00. Thursday- Graded Bull Calves: Number 1 114-128 lbs 120.00-136.00; 106-112 lbs 152.00-156.00; 94-104 lbs 170.00-176.00. Number 2 120-128 lbs 141.00; 106-118 lbs 164.00-177.00; 94-104 lbs 180.00-197.00; 88-92 lbs 105.00; 80-86 lbs 70.00. Number 3 90-130 lbs 80.00-111.00; 80-88 lbs 55.00-60.00; 72-78 lbs 35.00. Utility 60-110 lbs 20.00-40.00. Holstein Heifer Calves: 90-105 lbs 80.00-110.00. Number 2 70-125 lbs 60.00-80.00. Dairy Report: (Receipts: 719) Compared to last week, dairy cows sold mostly steady. Demand was good. This month's Special Heifer sale offered several head of good quality Holstein and Jersey/Crossbred heifers. Bred Holstein heifers sold 100.00- 200.00 higher compared to last week. No comparison on the Jersey/Crossbred heifers from last week. Demand was good on all heifers offered. Wednesday's supply included 117 fresh milking cows, 37 short-bred cows, 12 springing cows, 190 short-bred heifers, 124 springing heifers, 147 open heifers, and 35 bulls. One hundred percent of reported supply Holsteins unless otherwise noted. All sales sold on a per head basis. Fresh Cows: Supreme: 1800.00-2200.00 Approved: 1500.00-1700.00 Medium: 1275.00-1450.00 Common: 1000.00-1250.00 Short Bred Cows: (1-3 months): Supreme: 1425.00 Approved: 1250.00-1300.00 Medium: 1050.00-1200.00 Common: 950.00-1000.00 Springing Cows: (7-9 months): Approved: 1400.00-1450.00 Medium: 1200.00-1300.00 Cull Cows: 500.00-1300.00 Jersey/Crossbred Short Bred Heifers: (1-3 months): Supreme: 1175.00-1250.00 Approved: 1075.00-1150.00 975.00-1050.00 Medium: 950.00-1050.00 875.00-900.00 Common: 800.00-925.00 625.00-650.00 Bred Heifers: (4-6 months): Supreme: 1300.00-1375.00 Approved: 1150.00-1275.00 1175.00-1275.00 Medium: 975.00-1125.00 1075.00-1125.00 Common: 800.00-875.00 875.00-1000.00 Springing Heifers (7-9 months): Supreme: 1575.00-1650.00 Approved: 1400.00-1550.00 1300.00-1325.00 Medium: 1250.00-1375.00 1050.00-1125.00 Common: 1000.00-1225.00 Open Heifers: 300-600 lbs: Approved: 410.00-475.00 Medium: 300.00-375.00 500.00-575.00 Common: 200.00-275.00 375.00-425.00 600-900 lbs: Supreme: 800.00-850.00 Approved: 700.00-775.00 600.00-675.00 Medium: 575.00-650.00 Common: 400.00-550.00 900-1200 lbs: Supreme: 1000.00-1025.00 Approved: 850.00-975.00 Bulls: 600-900 lbs 775.00-900.00; 900-1200 lbs 950.00-1275.00, Jersey 600.00-900.00; 1200-1500 lbs 1075.00-1250.00, Jersey 1025.00-1100.00. Source: USDA Ag Market News, New Holland-Lancaster County, PA Levi Geyer, OIC / Cell 717-406-7350 John Stacy, Market Reporter / Office 717-354-2391 http://www.ams.usda.gov/mnreports/LN_LS145.txt 1900e lg/js