Direct cash cattle trade activity is quiet. Asking prices are around $125 live in the South, but have yet to surface out of the North. Bids have been non-existent. It’s likely significant trade volume will be delayed until midweek or later.
Boxed beef is mixed at midday on light to moderate demand for moderate offerings. Choice is $.33 lower at $302.37 and Select is $1.63 higher at $276.01. The Choice/Select spread is $26.36.
At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers were steady to $2 higher with heavier weights seeing the strongest demand. Feeder heifers were steady to $3 lower. The USDA says supply and demand were both moderate. Receipts were up on the week and down on the year. Feeder supply included 49% steers and 47% of the offering was over 600 pounds. Medium and Large 1 feeder steers 702 to 747 pounds brought $150 to $163 and feeder steers 804 to 847 pounds brought $148 to $154. Medium and Large 1 feeder heifers 612 to 648 pounds brought $142.50 to $150 and feeder heifers 803 to 845 pounds brought $129 to $143.50.
Cash hogs are lower at midday with fairly light negotiated purchases.
