Direct cash cattle trade activity is quiet to kick off the week. Bids and asking prices have yet to surface. Showlists this week are mixed, higher in Nebraska/Colorado, but lower in Texas and in Kansas. Look for significant trade volume to develop as the week progresses. Last week’s business ranged from $118 to $120 live in the South and $196 to $202 dressed in the North.
Boxed beef was mixed at midday on light demand for light offerings. Choice is $2.28 lower at $276.31 and Select is $.77 higher at $258.18. The Choice/Select spread is $18.13.
In South Dakota last week, feeder steers and heifers were $5 to $10 higher. The USDA says there was very good demand for yearling steers and heifers and the market was active. There has been some rain, but much more is needed and producers in the central part of the state continue to sell-off cattle to account for available forage supplies. Receipts were up on the week and the year. Feeder supply included 50% heifers and 94% of the offering was over 600 pounds. Medium and Large 1 feeder steers 805 to 849 pounds brought $148.50 to $167.25 and feeder steers 902 to 945 pounds brought $137 to $155. Medium and Large 1 feeder heifers 851 to 898 pounds brought $132.25 to $144 and feeder heifers 910 to 945 pounds brought $130.50 to $139.10.
Cash hogs are firm at midday with light negotiated purchases.
