There’s another very light round of direct cash cattle trade underway. Deals in Nebraska are at $126 live, those are marked for delayed delivery. The rest of cattle country remains relatively quiet with asking prices at $124 plus live in the South and $202 plus dressed in the North. Look for more business to develop over the balance of the week. There was a light to moderate trade that took place, mostly in the North with dressed deals ranging from $197 to $202, mostly $197, generally $1 higher than last week’s weighted average basis
Boxed beef is mixed at midday on light to moderate demand for moderate offerings. Choice is $4.19 lower at $307.86 and Select is $1 higher at $276.41. The Choice/Select spread is $31.45.
At the Hub City Livestock Auction in South Dakota, compared to last week, the best test on steers 800 to 850 pounds were $2 to $4 higher and steers 851 to 900 pounds were steady to $1 higher. The best test on heifers, 800 to 850 pounds were steady to $1 higher and 851 to 900 pounds were $2 to $3 higher. The USDA says demand was good to very good for another large offering, all of which sold on an active market. There were many loads and several strings offered again, as well as many packages. Flesh varied from light to moderate plus, as cattle are coming off grass and out of yards. Overall, quality was mostly attractive overall. There were several consignments off grass, with most of those replacement heifers in an attempt to conserve grass for the cow herd. Grass conditions continue to worsen with no rain and hot temperatures. Receipts were up on the week and the year. Feeder supply included 60% steers and 93% of the offering was over 600 pounds. Medium and Large 1 feeder steers 800 to 818 pounds brought $145 to $150.50 and feeder heifers 924 to 944 pounds brought $134 to $142.80. Medium and Large 1 feeder heifers 753 to 799 pounds brought $131 to $140 and feeder heifers 802 to 841 pounds brought $131.50 to $135.25.
Cash hogs are sharply lower at midday with moderate negotiated numbers.
