Direct cash cattle trade activity is off to a slow start. Bids are non-existent. Asking prices have surfaced around $114 live in the South, while the North remains quiet. It’s likely significant trade volume will be delayed until the last half of the week.
Boxed beef is higher at midday on good demand for moderate offerings. Choice is $1.56 higher at $209.25 and Select is $.84 higher at $196.58. The Choice/Select spread is $12.67.
At the Callaway Livestock Center in Missouri, compared to last week steer calves 400 to 550 pounds were steady to firm, 550 to 650 pounds were steady to $3 higher, 650 to 700 pounds were steady to $2 lower and 700 to 800 pounds were $4 to $6 lower. Feeder heifers 400 to 550 pounds sold with a higher undertone, 550 to 600 pounds were mostly steady, and heifers over 600 pounds sold with a lower underdone on a light test. The USDA says demand was good on a good quality offering of steer calves weighing 400 to 650 pounds with light demand for 700 to 800-pound steers. Receipts were up on the week and the year. Feeder supply included 64 percent steers and 53 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 603 to 649 pounds brought $142.50 to $152.25 and feeder steers 652 to 667 pounds brought $140.50 to $143. Medium and Large 1 feeder heifers 550 to 595 pounds brought $131 to $140 and feeder heifers 750 pounds brought $124.
Cash hogs are weak at midday with fairly light negotiated purchases.
