USDA Mandatory reported cattle trading was moderate in the Texas Panhandle on good demand on Wednesday. Live sales were steady to 1.00 higher than last week at 97.00 to 98.00. Trading was moderate to active in Kansas on moderate demand, with live sales mostly steady at 97.00, with a few trades up to 97.50. Trading and demand was moderate in Nebraska, with live sales .50 to 1.00 higher than the bulk of the trade last week at 97.00 to 98.00. Dressed sales were unevenly steady from 152.00 to 154.00. Trading was light to moderate in Colorado at 97.50 to 98.00, .50 higher than last week. Western Corn Belt sales were steady at 96.00, and dressed sales were 1.00 higher at 152.00 to 153.00. Week to date confirmed negotiated sales as of 2:00 were 135,400 head. Cattle slaughter was estimated at 131,000 head, 1,000 more than last week and last year. Boxed beef cutout values were weak on light to moderate demand and moderate to heavy offerings. Choice beef was .28 lower at 161.47, and select was down .47 at 155.44.
Live cattle contracts settled 15 to 100 points higher on the Chicago Mercantile exchange on Wednesday. The steady to higher prices for cash cattle along with firmer boxed beef values at midday helped to support the live cattle futures. The December contract was up the most on fund buying as October contracts were rolled into December on the first day of the Goldman roll. October settled .90 higher at 97.25, and December was up 1.00 at 99.70.
Feeder cattle contracts ended the session unchanged to 20 points higher on spillover support from the live pit and the lower values in the corn pit. Short covering was the main feature of Wednesday’s feeder action. September finished .17 higher at 112.10, and October was unchanged at 112.42.
Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 3002 head on Tuesday. Compared to last week, steers weighing less than 700 pounds traded 3.00 to 5.00 higher, over 700 pounds steady to 2.00 lower, heifers were 1.00 to 4.00 lower. Feeder steers medium and large 1 and 1-2 weighing 500 to 600 pounds brought 113.00 to 129.00, 7 to 8 weights from 104.00 to 108.50. 500 to 600 pound heifers traded from 103.00 to 112.50, and 7 to 8 weights brought 100.00 to 109.00 per hundredweight.
Barrows and gilts in the Iowa Minnesota direct trade closed.16 higher at 80.42 on a carcass basis, the West was up .28 at 80.21, and the east is .98 higher at 79.15.The Missouri direct base carcass meat price closed steady to 3.00 lower from 71.00 to 73.00. Wednesday’s hog slaughter is estimated at 422,000 head, 9,000 more than last week, but 10,000 less than last year. The large hog kill on Tuesday and Wednesday and Saturday plans of 235,000 or better reflects positive packer margins and strong demand needed to keep finishing floors swept clean. Pork trading was slow, with light demand and light to moderate offerings. Pork carcass cutout value was up .47 at 90.94.
Lean hogs settled 15 to 125 points higher on short covering. Fund buying was the main feature. The expectation that additional hog buying is needed in order to keep up the post holiday procurement schedule helped to support futures prices. October was .70 higher at 76.30, and December was up .70 at 74.25.
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