Direct cash cattle trade is off to a sluggish start following Tuesday’s light to moderate business. Deals in the South were at $108, that’s $2 to $2.50 lower than the bulk of last week’s trade. The North was relatively quiet, while there were a handful of deals reported, it wasn’t near enough to establish a trend. Asking prices are around $109 to $110 in the South, but nothing yet out of the North.
Boxed beef is sharply lower at midday on light demand for moderate offerings. Choice is $3.93 lower at $221.09 and Select is $1.01 lower at $204.41. The Choice/Select spread is $16.68.
At the Kingsville Livestock Auction in Missouri, compared to last week steers were mostly steady with spots of $3 higher to $3 lower. Heifers were steady to $5 lower, except for 350 to 425-pound calves, which sold with a higher undertone. The USDA says demand was moderate to good, best for the higher quality loads of yearlings and calves to graze. Supply was heavy with many loads of yearlings and groups of calves. Receipts were up slightly on the week and the year. Feeder supply included 61 percent steers and 59 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 647 pounds brought $144 to $156 and feeder steers 858 to 893 pounds brought $136.50 to $137.10. Medium and Large 1 feeder heifers 509 to 545 pounds brought $134 to $142 and feeder heifers 706 to 742 pounds brought $129 to $142.50.
Cash hogs were weak at midday with moderate negotiated numbers.
