Direct cash cattle trade activity is starting to pick up. The are a few scattered bids that have surfaced at $138 live in the South. Asking prices in the South are around $143 to $145 live, however, they haven’t been established in the North yet. There could be some scattered trade develop yet today, but it’s likely the bulk of the week’s business will hold out until midweek or later.
Boxed beef was lower at midday on light demand for moderate offerings. Choice was $1.05 lower at $276.53 and Select was $.80 lower at $261.22. The Choice/Select spread was $15.31.
At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers under 600 pounds were $3 to $8 higher, heavier weights were steady. Feeder heifers were $3 to $9 higher, heifers under 500 pounds were in the highest demand. The USDA says demand was good to very good for the heavy supply. Receipts were down on the week and the year. Feeder supply included 61% steers and 54% of the offering was over 600 pounds. Medium and Large 1 feeder steers 650 to 696 pounds brought $157 to $166 and feeder steers 753 to 797 pounds brought $156 to $167.50. Medium and Large 1 feeder heifers 500 to 549 pounds brought $145 to $161 and feeder heifers 552 to 597 pounds brought $144 to $161.
Cash hogs are higher at midday with moderate negotiated purchases.
