Direct cash cattle trade activity is starting to pick up with a light round of live business reported in the South. Deals in Texas and Kansas are marked at $115. Asking prices are at $116 to $117 live in the South and $185 dressed in the North. Bids in other parts of cattle country are at $114 to $115 live and $182 dressed. Look for additional business to develop today, but significant trade volume may be delayed until the end of the week. Today’s Fed Cattle Exchange had an offering at 2,633 head with 1,550 head sold, all of which were marked at $116.
Boxed beef is mixed at midday on light to moderate demand for moderate offerings. Choice is $1.12 higher at $235.11 and Select is $1.64 lower at $223.59. The Choice/Select spared is $11.52.
At the Philip Livestock Auction in South Dakota, compared to two weeks ago, feeder steers under 550 pounds were $8 higher, 550 to 650 pounds are $5 higher, 650 to 750 pounds were steady to $2 higher. Feeder heifers 500 to 550 pounds were steady to $3 higher, 550 to 700 pounds were steady, heifers 700 to 750 pounds were $2 higher. The USDA says demand was good for several strings, load lots, and a few packages of feeder steers and feeder heifers, all of which sold on an active market. Much of the offering carried light to moderate flesh. Feeder supply included 40 percent steers and 54 percent on the offering was over 600 pounds. Medium and Large 1 feeder steers 610 to 647 pounds brought $161.25 to $169 and feeder steers 752 to 776 pounds brought $142.50 to $148. Medium and Large 1 feeder heifers 559 to 588 pounds brought $148 to $165 and feeder heifers 709 to 721 pounds brought $132 to $140.25.
Cash hogs are lower at midday with solid negotiated purchases. Prices are taking a little bit of a breather to start the day as the ongoing strong demand has provided price support. The industry expects that demand strength to continue. However, packers continue to monitor the supply and demand situation, including the availability of market-ready barrows and gilts. And while daily slaughter totals have been relatively high, they’ve been running below year-ago levels. Hog weights dropped 0.6 pounds this week to 287.4 pounds, but it’s still 1.2 pounds above last year’s weights.
