Direct cash cattle trade activity remains relatively quiet. A few bids have surfaced in parts of Nebraska at $130 live. Asking prices are holding at $132 to $134 live in the South, while the North remains quiet. Buyers and sellers could be headed into another standoff, which would likely delay the bulk of the week’s business until later in the week.
Boxed beef prices was higher at midday on good demand for solid offerings. Choice is $.84 higher at $289.49 and Select is $3.19 higher at $271.79. The Choice/Select spread is $17.70.
At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers were steady to $2 higher. Feeder heifers were steady to $3 higher, with the most demand on weights over 750 pounds. The USDA says quality cattle were met with high demand. Receipts were up on the week and the year. Feeder supply included 51% steers and 54% of the offering was over 600 pounds. Medium and Large 1 feeder steers 650 to 697 pounds brought $151 to $166 and feeder steers 702 to 746 pounds brought $156 to $162.50. Medium and Large 1 feeder heifers 704 to 729 pounds brought $144 to $152 and feeder heifers 751 to 786 pounds brought $144.75 to $155.25.
Cash hogs are lower at midday with moderate negotiated numbers.
