Cattle trading was active in the Southern Plains on Friday on good demand. Compared to last week, live sales in the Texas Panhandle were 2.00 to 3.00 higher at 94.00 to 95.00, and 2.00 higher in Kansas at 94.00. Dressed sales in Kansas are 4.00 higher than last week at 148.00. Trading was moderate on good demand in Nebraska. Compared to last week, live sales were 3.00 higher at 91.00 to 93.00 and dressed sales traded 2.00 to 3.00 higher at 147.00. In Colorado trade was moderate on good demand with lives sales mostly 3.00 higher at 93.00 with instances at 94.00. In the Western Corn belt trade was light on moderate demand. Compared to Thursday the bulk of the dressed sales traded from 1.00 to 3.00 higher at 147.00.The weekly cattle slaughter was estimated at 621,000 head, 4,000 more than last week, but 4,000 less than last year. Boxed beef cutout values were steady to firm on moderate to good demand and moderate to heavy offerings. Choice boxed beef was up .57 at 149.64; select was .13 higher at 148.50.
Chicago Mercantile Exchange live cattle contracts closed 20 to 127 points higher on the stronger cash cattle market. Additional support to the front months came from spreading into April and June out of the back months. April settled 1.27 higher at 95.10, and June was up .85 at 92.80.
Feeder cattle ended the session 70 to 155 points higher on the support from the strong action in the live pit. Additional support came from the lack of direction in the corn futures market. March settled 1.07 higher at 103.00, and April was up .87 at 105.97.
Feeder cattle receipts at Missouri auctions this week totaled 41,441 head. Compared to last week feeder steers and heifers found the majority of the sales steady, with trends at some auctions showing certain weights and cattle of classes several dollars higher to several dollars lower. Demand was good on a moderate supply. Feeder steers medium and large 1; 1385 head averaging 621 pounds traded at 111.95 per hundredweight, 1207 heifers weighing 623 lbs averaged 100.28.
Barrows and gilts in the Iowa/Minnesota direct trade closed 1.23 lower at 70.34 on a carcass basis, the West was down 1.20 at 70.45, and the East was 1.04 higher at 70.74. The Missouri direct base carcass meat price closed steady from 64.00 to 67.00 on the barrows and gilts. The weekly hog slaughter is estimated at 2,132,000 head, 31,000 less than last week and 20,000 less than last year. Saturday kill plans had been forecast to be around 30,000 head, but came in much higher than that at 84,000. Russia made it official on Thursday by relisting eleven U.S. pork plants for exports.
Lean hogs settled 5 to 77 points higher. Fund buying was noted as after April and June moved through ten day moving average resistance levels. April settled at 72.65 up .77, The June contract hit a high of 81.50 before settling at 60 higher at 80.80. Pork trading was moderate with light to moderate demand and offerings. Pork carcass cutout value was .28 lower at 73.83.
Most pork belly months were unquoted and May ended .45 lower at 92.05.
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