N.C. Cooperative Extension-Alexander County Newsletter November 2022

Livestock Outlook

Based on Tennessee weekly auction average prices, steer prices were mainly steady to $3 higher compared to last week while heifer prices were $2 to $6 higher compared to a week ago. Slaughter cow prices were $2 to $3 lower compared to a week ago while bull prices were steady to $3 lower compared to the previous week. Calf prices trended in an unanticipated direction this week as the price of most classes of calves and feeder cattle increased. This unexpected increase is largely associated with feeder cattle futures trading a little higher than the previous week, which pushed the cash price higher. Cash prices and futures prices are looking for convergence as the October feeder cattle contract nears its expiration. Based on the most recent CME feeder cattle index reading and the current October futures price, there is still more than a $1 per hundredweight gap between futures and cash prices. However, this gap is rather small relative to some of the price differences seen the past several months. Given last week’s cattle on feed report, which reported fewer cattle on feed compared to the same month a year ago, it (Continued on page 2) Trends for the Week Livestock Comments by Dr. Andrew P. Griffith Compared to a Week Ago Slaughter Cows $2 to $3 lower Slaughter Bulls steady to $3 lower Feeder Steers steady to $3 higher Feeder Heifers $2 to $6 higher Feeder Cattle Index: 174.78 Fed Cattle The 5-area live price on Thursday of $151.84 was up $1.78. The dressed price of $239.83 was up $4.57. Corn December closed at $6.80 a bushel, down 4 cents since last Friday. Soybeans November closed at $13.87 a bushel, down 8 cents since last Friday. Wheat December closed at $8.29 a bushel, down 21 cents since last Friday. Cotton December closed at 72.11 cents per lb, down 7.02 cents since last Friday. 2 would appear that market participants are slowly realizing there are actually going to be fewer cattle available moving forward than what have been made available the past several months. Calf and feeder cattle inventories will continue to tighten the next couple of years, which makes it sound like there will continue to be plenty of animals available to fill feedlot pens, but the market participants are already staring tight supplies in the face. There will be strong competition for calves and feeder cattle moving forward. This competition will lend itself to stronger prices at all points in the supply chain. Cow-calf producers will likely experience increased profits the next few years while stocker and feedlot operators will need more capital to play the game. (article written by: Dr. Andrew P. Griffith)

Pearls of Wisdom ECA Club Activities for the Month of October

“The smallest act of kindness is worth more than the grandest intention”—Oscar Wilde.
For the month of October, The Pearls of Wisdom ECA volunteers hosted a baby shower for
the Caring Heart Pregnancy Center worth a little more than $300. Denise Garnes, Executive
Director, came and shares with the members about the mission of the center and the work
that they do. “Most people think that we’re done helping when the baby is delivered but we
also offer counseling, budgeting, maternal health and so much more” Denise shares. She
explained how Caring Heart Pregnancy Center is possible through amazing partnerships
and how they were able to overcome the troubles that came with COVID. Through several
grants and community assistance, they’re now able to do ultrasounds on-site which offers
so much more opportunity for the local community. Many of the materials collected were
diapers, clothing, and baby materials.

What is ECA? The North Carolina Extension & Community Association (ECA), formerly
known as the Extension Homemakers Association, is an adult volunteer organization that
works within the communities to empower families and individuals to improve their quality of
life.

The Pearls of Wisdom ECA will be meeting on November 14, 2022 at the Alexander County Service Center-Demonstration Kitchen at 4 pm. The members will be learning about eating the Mediterranean way. The program is free and open to anyone interested in becoming and
ECA member. Interested in joining or attending this session? Contact Der Holcomb at
828.632.3125 or der_xiong@ncsu.edu