It’s a typically quiet start to the week for direct cash cattle trade activity. Buyers and sellers are busy taking inventory and putting together showlists. Trade volumes last week were light and it could get business off to an earlier start, but it could also follow the trend of recent weeks with significant trade volume holding out until sometime Thursday or Friday. There was a light to moderate trade that took place late in the week with dressed business ranging from $257 to $262, mostly $260 to $262, $3 to $5 higher than the prior week’s weighted averages. Live deals in the South were marked at mostly $164, about $2 higher than the previous week’s business.
Boxed beef is mixed at midday on light to moderate demand for light offerings. Choice is $.32 lower at $286.96 and Select is $1.97 higher at $279.05. The Choice/Select spread is $7.91.
In Missouri, last week feeders were steady to $5 higher. The USDA says lighter-weight grazing-type cattle, generally under 650 pounds, were met with the best demand. The supply of feeders was moderate, and demand is good to very good. There were several bright spots at auctions throughout the week. Receipts were up on the week and the year. Feeder supply included 55% steers and 44% of the offering was over 600 pounds. Medium and Large 1 feeder steers 500 to 549 pounds brought $192 to $251 and feeder steers 600 to 648 pounds brought $179 to $226.50. Medium and Large 1 feeder heifers 550 to 597 pounds brought $169 to $219.75 and feeder heifers 650 to 699 pounds brought $163 to $190.
Cash hogs are about steady at midday with moderate negotiated purchases.
