It’s another quiet start for direct cash cattle trade activity. Bids have been slow to surface. Asking prices have been noted at $145 plus live in parts of the South, however, they’ve not been established out of the North. Showlists this week are higher across all major feeding areas. Look for the bulk of this week’s business to take place midweek or later.
Boxed beef was lower to sharply lower at midday on light demand for strong offerings. Choice is $2.93 lower at $269.90 and Select is $.89 lower at $256.96. The Choice/Select spread is $12.64.
At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers under 550 pounds were $5 to $10 higher. Heavier weights were steady to $4 higher. Feeder heifers were steady. The USDA says demand was good on a heavy supply. Receipts were up on the week and the year. Feeder supply included 64% steers and 53% of the offering was over 600 pounds. Medium and Large 1 feeder steers 800 to 845 pounds brought $155 to $161.10 and feeder steers 849 pounds brought $170. Medium and Large 1 feeder heifers 500 to 548 pounds brought $145 to $161 and feeder heifers 601 to 649 pounds brought $147 to $155.50.
Cash hogs prices have been delayed due to technical issues at the USDA. Business started the week sharply lower following a strong end to the previous week. Demand for US pork on the global market and domestically has been very good. And while that is expected to continue, there is some long-term concern and that has been adding pressure to price. Processors continue to move their desired numbers without having to aggressively bid up and all eyes remain on the availability of market-ready barrows and gilts.
Butcher hog prices at the Midwest cash markets are $2 lower at $48.
