Direct cash cattle trade activity is still pretty quiet. A few bids have surfaced at $106 live and $169 to $170 dressed. There are a few asking prices being floated in Nebraska around $175+ dressed and $108+ live. However, significant trade volume isn’t expected until late in the week.
Boxed beef is sharply higher again today on strong demand
for moderate to heavy offerings. Choice
is $5.05 higher at $231.41 and Select is $4.51 higher at $205.90. The Choice/Select spread is $26.32.
At the Ozarks Regional Stockyard in Missouri, receipts are
down on the week and on the year.
Compared to last week, steers and heifers traded with a sharply lower
undertone, mostly $10 to $15 lower. The
USDA says both supply and demand were light.
Feeder supply included 38 percent steers and 47 percent of the offering
was over 600 pounds. Medium and Large 1
feeder steers 618 to 637 pounds brought $130 to $140 and feeder steers 733 to
741 pounds brought $125 to $130. Medium
and Large 1 feeder heifers brought 519 to 543 pounds brought $128 to $140 and
feeder heifers 654 pounds brought $125.
Cash hogs opened steady to sharply lower with moderate
negotiated purchase numbers. The demand picture
is uncertain and the supplies are more than ample – especially with these
continued really large slaughter runs – adding more pork to a market that is
already saturated.
Continue reading Midday cash livestock markets at Brownfield Ag News.
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