National Ag News

Direct cash cattle trade is off to a typically quiet start to the week.  Bids and asking prices have yet to be established and it’s likely we’ll see significant trade volume develop as the week progresses.  With the shortened holiday week, we could even see business wrap up by midweek.  We saw a light to moderate
trade develop late last week with most live deals at $109 in the South, steady
to $1 lower than the previous week. 
Deals in the North were steady to $2 per head lower than the weighted
average basis in Nebraska at $178 to $180. 

Boxed beef is firm at midday on moderate demand for moderate
offerings.  Choice is $.62 higher at
$220.28 and Select is $.66 higher at $196.22. 
The Choice/Select spread is $24.06. 

In South Dakota last week, receipts were up on both the week
and the year.  Compared to the previous
week, feeder steers under 700 pounds were $2 to $5 higher with instances of $10
higher.  Steers over 700 pounds were
steady to $3 higher, except 1000 to 1050-pound steers which were $5
higher.  Feeder heifers under 600 pounds
were $4 to $8 higher and heifers over 600 pounds were steady to $3 higher.  The USDA says demand was moderate to good at
times, especially on the larger auctions where there were many long strings of
yearlings offered.  The feeder cattle
market has been under increasing pressure as fed cattle and backgrounded cattle
continue to lose money.  Feeder supply included
53 percent steers and 90 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 753 to 799
pounds brought $135 to $151.50 and feeder steers 861 to 891 pounds brought $126
to $139.75.  Medium and Large 1 feeder
heifers 703 to 745 pounds brought $128 to $137 and feeder heifers 850 to 898
pounds brought $114 to $130.50. 

Cash hogs opened steady with moderate negotiated purchase totals. 

Continue reading Midday cash livestock markets at Brownfield Ag News.