NATIONAL WEEKLY FEEDER & STOCKER CATTLE …

1 NATIONAL WEEKLY FEEDER & STOCKER CATTLE SUMMARYSt. Joseph, MissouriEmail:SJ_LS850 NORTH CENTRAL REGION lbslbslbsSOUTH CENTRAL REGION lbslbslbsSOUTHEAST REGION lbslbslbsUSDA LIVESTOCK, POULTRY & GRAIN MARKET NEWSS teers:400-500 Last Year$ WeekYear Week$ $ $ STEER PRICESFor detailed state-by-state FEEDER CATTLE quotes: NATIONAL FEEDER & STOCKER CATTLE Summary196,200700-800 REGIONAL WEIGHTED AVERAGE600-700$ $ $ $ :$ $ $ : 816-676-7000500-600 Steers:This WeekLast Week$ $ Week$ $ WeekSt. Joseph, Missouri$ $ $ $ $ Livestock, Poultry, & Grain Market NewsLast Year$ $ $ w/e Saturday, 05/14 Week241,700194,800$ , May 16, 20220100200300400 JFMAMJJASONDT housandsNATIONWIDE REPORTED WEEKLY FEEDER CATTLE auction RECEIPTS(Receipts vary depending on the number of auctions reported)202120225 Yr Avg$120$130$140$150$160$170$180 JFMAMJJASONDCME FEEDER CATTLE INDEX ($/CWT)202220215 YR AVG$100$110$120$130$140$150 JFMAMJJASOND5 AREA WEEKLY WEIGHTED AVERAGESLTR STEER PRICE ($/CWT)202220215 YR AVG384042442022 YTD2021 YTD5 Yr Avgx 100000 YEAR TO DATE auction RECEIPTSC ompared to last week, steers and heifers sold uneven.

2 Steady to higher in the Southeast and steady to lower in the North-Central and South-Central regions. Good demand remains for light fleshed CATTLE to run on grass as yearlings as turnout time is now upon us as the grass is green in growing, while demand is moderate to good for those CATTLE bound for finishing yards. Currently, higher cost of gains makes more sense for CATTLE FEEDER to buy the available heavier weight CATTLE . Corn, protein, and energy sources are the highest they have been in years and CATTLE feeders want to be prudent in the purchasing decisions as more times than not; the first cost is the most important in feeding CATTLE . In Missouri, fall calves are showing up in auctions with smaller bawling groups carrying a tick of flesh are much more commonplace this week.

3 Flesh condition is a very important factor in determining the value of FEEDER CATTLE , and it's only amplified even more in year's where costs of gain are high. The industry is now moving into the slow season for marketing CATTLE at auctions with the dog days of summer just a few short weeks away. A decent week of weather finally allowed farmers to get into fields which kept many away from auctions. Ranchers will start turning their attention to haying options soon as Memorial Day is around the corner and many like to have first cutting started right around that time. Cold, wet weather or drought conditions will hamper forage production this year. The cash fed CATTLE market is dollars ahead of the current spot month of June, nearly , leaving CATTLE feeders unsure of where the market is headed and where it will converge with the futures.

4 The CME CATTLE complex had a rough week with 2022 deferred FEEDER CATTLE contracts were to lower and deferred Live CATTLE contracts were to lower. The cash fed CATTLE trade was steady this week at in the Southern Plains, however the Nebraska dressed trade was lower at Choice boxed beef closed the week higher at , while Select was lower at for the same period. WEEKLY CATTLE Slaughter under federal inspection estimated at 657K for the week, the same as last week and 13K more than a year ago. auction volume this week included 52 percent weighing over 600 lbs and 47 percent heifers.