Another slow start to the day for direct cash cattle trade activity. A few early asking prices have been noted in parts of Texas around $110. No bids have surfaced. It’s very likely significant trade volume will be delayed until sometime Thursday or Friday.
Boxed beef is lower at midday on light demand for moderate offerings. Choice is $.82 lower at $216.16 and Select is $.81 lower at $207.20. The Choice/Select spread is $8.96.
At the Joplin Regional Stockyards in Missouri, compared to last week – steer calves sold steady to $4 higher and yearlings were unevenly steady. Heifers were weak to $5 lower with a few lightweight heifers trading as much as $9 lower. The USDA says both supply and demand were moderate. Receipts were down on the week and up on the year. Feeder supply included 63 percent steers and 59 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 667 to 679 pounds brought $140 to $149.50 and feeder steers 701 to 736 pounds brought $135 to $146. Medium and Large 1 feeder heifers 605 to 640 pounds brought $127 to $138 and feeder heifers 657 to 699 pounds brought $125 to $136.
Cash hogs opened weak with moderate negotiated numbers.
