Calf prices were lower across the board last week by as much as $10/cwt., more on fleshy unweaned calves, according to the Agricultural Marketing Service (AMS). That's despite the fact that corn futures prices dropped in response to cash corn prices that had lost nearly $0.30/bu. during the previous week.

AMS analysts says this past week's feeder and stocker cattle trade was completely dominated by the overwhelming heat wave that covered most of the U.S. Triple-digit temperatures covered all five major cattle feeding areas resulting in significant death loss of calves, yearlings, and finished cattle. Many Kansas feedlots reported a drop in feed consumption and the absence of performance with many pens containing fewer pounds of cattle than they did two weeks ago. Hot weather also weighed on the dressed beef market with Choice cut-out values more than $5/cwt. lower for the week as consumers deem conditions too hot to grill.

The Cattle on Feed report issued Friday afternoon will likely keep the price pressure on calves. AMS points out June placements under 700 lb. were 30% more than a year ago (see Bears Growl...above).

The summary below reflects the week ended July 21 for Medium and Large 1 -- 500-550-lb., 600-650-lb., and 700-750-lb. feeder heifers and steers (unless otherwise noted). The list is arranged in descending order by auction volume and represents sales reported in the weekly USDA National Feeder and Stocker Cattle Summary: