Direct cash cattle trade activity is off to its typically quiet start. Buyers and sellers are busy taking inventory and bids and asking prices have yet to surface. It’s likely the bulk of the week’s business will be delayed until Midweek or later. Last week’s business had Southern live deals at mostly $124, about steady with the previous week’s business. Dressed deals were mostly $196, about steady with the prior week’s weighted average basis in Nebraska.
Boxed beef was lower at midday with light demand for moderate offerings. Choice was $1.59 lower at $280.23 and Select was $.92 lower at $262.19. The Choice/Select spread is $18.04.
In South Dakota last week, compared to the previous week’s sales, steers calves under 450 pounds were $5 to $7 higher and steers 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 precondition calves in the offering and they were met with moderate to good demand. Receipts were down on the week and the year. Medium and Large 1 feeder steers 550 to 599 pounds brought $161 to $189 and feeder steers 600 to 649 pounds brought $161 to $181. Medium and Large 1 feeder heifers 500 to 549 pounds brought $144 to $166.50 and feeder heifers 851 to 896 pounds brought $142.50 to $153.
Cash hogs are lower at midday with moderate negotiated purchases.
