Direct cash cattle trade activity has been quiet to start the week, with buyers and sellers busy taking inventory. Bids and asking prices were not yet established. It’s likely significant trade volume will be delayed until midweek or later. Live deals last week were at mostly $124, steady with the previous week’s weighted averages. Northern dressed deals were at mostly $196, fully steady with the prior week’s weighted average basis in Nebraska.
Boxed beef was mixed at midday on light to moderate demand for light offerings. Choice is $.29 lower at $279.95 and Select is $.83 higher at $261.45. The Choice/Select spread is $18.50.
In South Dakota last week, steer calves under 450 pounds were $5 to $7 higher and steer calves over 450 pounds were $2 to $3 higher. Heifer calves were steady to $4 higher. Yearling steers were steady to $4 lower on a light test and yearling heifers were $3 to $6 higher. There were many strings of preconditioned calves in the offering, which were met with moderate to good demand. Receipts were down on the week and the year. Feeder supply included 59% steers and 44% of the offering was over 600 pounds. Medium and Large 1 feeder steers 550 to 599 pounds brought $161 to $189 and feeder steers 600 to 648 pounds brought $161 to $181. Medium and Large 1 feeder heifers 500 to 549 pounds brought $144 to $168 and feeder heifers 851 to 896 pounds brought $142.50 to $153.
Cash hogs are weak at midday with solid negotiated purchases.
