There are a few bids on the feedlot cattle on Tuesday at 89.00 to 90.00 in Kansas and 143.00 in Nebraska. Asking prices are 93.00 in the South and 148.00 to 150.00 in the North. Cattle buyers will probably try to collect necessary numbers as soon as possible before breaking for the long holiday weekend. As long as processing margins continue to look positive, they should be willing and eager to offer near steady money. Boxed beef cutout values are higher, the choice is up .29 at 155.18, and select is up .54 at 146.75.
Feeder receipts at the Sioux Falls Regional Stockyards at Worthing, SD totaled 1333 head on Monday. Feeder steers and heifers were lightly tested last week, compared to this week’s larger offering feeder steers and heifers sold steady with higher undertones. Demand was very good for all weights and classes. Feeder steers medium and large 1 weighing an average of 908 lbs brought 106.00 per hundredweight, 876 lb heifers traded at 103.37.
Barrows and gilts in the Iowa/Minnesota direct trade opened .72 higher at 77.64 on a carcass basis, the West is .72 higher at 77.58, and the east is up .36 at 78.84.The Missouri direct base carcass meat price is steady at 72.00. Country movement has been moderate to start the week, but it is unclear as to how well packers have their slaughter needs covered. Look for daily kills close to 400,000 over the next three days, a slaughter of 370,000 or so on Friday, and a complete work stoppage on Saturday and next Monday for the Fourth of July Holiday.
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