Chicago Mercantile Exchange live cattle contracts settled 20 to 80 points higher with only the October slightly lower. Live cattle were lower early in the session, but stabilized by midsession on technical buying. October was down .05 points at 85.60, and December was up 52 at 86.12. Boxed beef cutout values ended lower on light demand and moderate to heavy offerings. Choice beef was down 1.25 at 137.68, and select was .88 lower at 132.32.

Feeder cattle settled 35 to 85 higher with light bull spreading and end of the month positioning the main features early. Higher values in the live pit were supportive to feeders. October was 70 points higher at 96.50, and November was up 85 at 96.62.

At the Ozarks Regional Stockyards at West Plains, MO Tuesday, feeder receipts totaled 3,000 head. Compared to last week feeders were generally steady to 2.00 lower, except 400 to 450 pound calves firm to 3.00 higher and heifers over 700 pounds 2.00 to 4.00 higher. Feeder steers medium and large 1 and 1-2 weighing 500 to 600 pounds traded from 100.00 to 109.00 per hundredweight, 7 to 8 weight steers from 91.00 to 94.00. 500 to 600 pound heifers brought 84.50 to 96.00 and 7 to 8 weights from 82.50 to 90.50.

Wednesday’s cattle kill was estimated at 125,000 head, 2,000 less than last week and last year. Cattle country is quiet today with just a few token bids of 82.00 in the South where asking prices are around 87. In the North they are asking 135 + and no bids are reported. Last week’s cattle slaughter turned out to be 650,000 head and could well be the largest weekly slaughter we will see in several months, perhaps until next spring.

 Barrows and gilts at the terminals trended steady to an instance of 1.00 lower from 28.00 to 34.00 on the live basis. Interior Missouri base carcass meat price is steady from 43.00 to 46.00. Iowa/Minnesota hogs closed 1.49 lower at 47.37 on a carcass basis, the West was down .75 at 48.23, the East was .35 lower at 45.75.Hog slaughter was estimated at 433,000 head, 1,000 more than last week, and 6,000 greater than a year ago.  Decent hog receipts and eroding carcass value should keep the cash markets lower. Chain speed is quite aggressive, but it sounds like Saturday’s kill plans may be somewhat smaller than last week, around 150,000 head.

Lean hogs settled unchanged to 60 points lower but well off the session lows. Selling interest was tied to lower cash and product business, chart damage and the triggering of buy stops. October was 20 points lower at 50.07, and December was down 57 at 49.60. Pork trading was slow, with mostly light demand and moderate offerings. Pork carcass value was 1.79 lower at 52.28.

Pork bellies settled 300 points lower with only February and March reporting any business. February ended at 81.70 and March at 80.40.