USDA Mandatory is reporting a light to moderate cattle trade has developed in the Texas Panhandle on moderate demand. Compared to last week, live sales are steady to .50 higher at 97.00 to 97.50, with several sellers continuing to pass. Trading is moderate to active in Kansas on moderate demand; live sales are mostly steady at 97.00. Trading and demand is moderate in Central and Western Nebraska, with live sales unevenly steady at 97.00. Asking prices are generally around 100.00 in the South and 156.00 in the North.
Boxed beef cutout values were higher at midday, the Choice is at 161.98, and select at 156.14, both were up .23.
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 opened 1.45 lower at 78.81 on a carcass basis, the West is down 1.14 at 78.79, and the East is .56 lower at 77.61. The Missouri direct base carcass meat price is steady to 3.00 lower from 71.00 to 73.00.
Dressed sales worked higher in the direct trade yesterday without generating large trade volume totals. Some accounts still seem to need hog numbers to cover slaughter plans later this week, but loin, rib and belly business drove the carcass value lower again on Tuesday. Such steady demand erosion is sure to keep packers on the defensive.
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