A light direct cash cattle trade is underway. Deals in Texas have been reported at $108 live, that’s about $1.50 lower than last week’s weighted averages, but not enough business to establish a trend. The rest of cattle country has been quiet. It’s very likely significant trade volume will be delayed until the latter half of the week.
Boxed beef is sharply lower at midday on light demand for moderate offerings. Choice is $3.88 lower at $226.92 and Select is $3.06 lower at $206.42. The Choice/Select spread is $20.50.
At the Callaway Livestock Center in Missouri, compared to last week steer calves 400 to 500 pounds sold with a higher undertone, 500 to 600 pounds steers were firm to $5 higher, 600 to 650 pounds steers were firm to $3 higher, 650 to 700 pound steers were mostly yearlings and sold with a higher undertone. Feeder heifers sold steady with the exception of 500 to 600-pound heifers which were steady to $5 higher. The USDA says there were a lot of good, top quality calves in Monday’s offering and the quality was better overall this week. Feeder supply included 61 percent steers and feeder supply included 56 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 640 pounds brought $144 to $154.50 and feeder steers 664 to 687 pounds brought $147 to $156.50. Medium and Large 1 feeder heifers 500 to 548 pounds brought $141 to $149 and feeder heifers 607 to 646 pounds brought $138.50 to $143.50.
Cash hogs are steady to weak at midday.
