Another very slow start to direct cash cattle trade. Some asking prices have surfaced around $126 plus in the South, while the North has been quiet. It’s likely significant trade volume could be delayed until midweek or later. The USDA’s next Cattle on Feed report comes out on Friday.
Boxed beef was higher at midday on good demand for moderate offerings. Choice is $.72 higher at $280.81 and Select is $1.82 higher at $261.63. The Choice/Select spread is $19.18.
At the Callaway Livestock Center in Missouri, compared to last week 400-to-500-pound steer calves were not well tested. Steers 500 to 550 pounds were steady to $4 lower, and steers 550 to 650 pounds were not well tested. Yearlings 685 to 915 pounds sold with a firm undertone. Feeder heifers 450 to 500 pounds were steady with 500-to-600-pound heifers lightly tested. There was a part load and pot load of yearling heifers 660 to 740 pounds that sold with a firm undertone. Receipts were up on the week and down on the year. Feeder supply included 63% steers and 54% of the offering was over 600 pounds. Medium and Large 1 feeder steers 805 to 847 pounds brought $155.50 to $160 and feeder steers 860 pounds brought $149. Medium and Large 1 feeder heifers 459 pounds brought $150 to $155 and feeder heifers 740 pounds brought $149.75.
Cash hogs prices were delayed at midday due to packer submission problems.
