Barrows and gilts in the Iowa/Minnesota direct trade opened .64 lower at 47.84 on a carcass basis; the East was down .09 at 46.86. Missouri direct base carcass meat price is steady from 42.00 to 46.00. Packers appear to be relatively well positioned in terms of live inventory, at least as comfortable as last Monday. Processing margins are just adequate, so packers will try early this week to save money on live inventory if at all possible.
Cattle country is typically slow as packers move to collect the new show lists. Early ideas of asking prices are around 85 in the South and 130 + in the North. Choice boxed beef is down .06 at 133.92, select is up .17 at 128.64.
Oklahoma National Stockyards feeder receipts totaled 8400 head today. Compared to last week feeder cattle opened steady with good demand. Feeder steers medium and large 1, calves weighing 550 to 600 pounds brought 98.75 to 107.00. 500 to 550 pound heifer calves from 92.50 to 99.
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