Direct cash cattle trade is still quiet. Bids have surfaced at $138 live. However, asking prices are holding firm at $143 plus live in the South. There’s a wide range between the two, which means business could be at a standstill until one side budges. Today’s Fed Cattle Exchange had an offering of 1,868 head, with zero sold as none met the reserve price.
Boxed beef was lower at midday with light demand for strong offerings. Choice is $.60 lower at $271.08 and Select is $.75 lower at $259.54. The Choice/Select spread is $11.54.
At the Philip Livestock Auction in South Dakota, the USDA says there was good demand for many load lots and several packages of feeder steers, feeder heifers, and replacement heifers. They all sold on a very strong market. Nearly the entire offering was home-raised, very attractive, unweaned calves that were fully preconditioned and carried light to moderate flesh. Receipts were down from the most recent sale and down on the year. Feeder supply included 67% steers and 18% of the offering was over 600 pounds. Medium and Large 1 feeder steers 451 to 495 pounds brought $200 to $217 and feeder steers 553 to 599 pounds brought $170.50 to $188.25. Medium and Large 1 feeder heifers 508 to 543 pounds brought $160 to $165.50 and feeder heifers 555 to 584 pounds brought $153 to $165.
Cash hogs were higher at midday with solid negotiated purchases.
