Cattle country is quiet today and business may be completed for the week except for some cleanup deals. Trade was active yesterday with guesses that 40,000 to 45,000 head traded in both Nebraska and Kansas but Texas only moved about 20,000 head. Dressed business in the North ranged from 152.00 to 154.00, mostly 153.00. Live deals were mostly 97.00 to 98.00 in the South. Asking prices for the few cattle on the show lists are around 97.00 plus in the South and 154.00 plus in the North. USDA Mandatory reported confirmed negotiated sales through Wednesday afternoon at 177,592 head.
Boxed beef cutout values were weaker at midday, with the choice beef down .61 at 160.86, and select down .93 at 154.51.
Feeder cattle receipts at the Bassett Livestock Auction, Bassett, Nebraska totaled 3100 head on Wednesday. Compared with two weeks ago 700 to 800 pound steers traded 3.00 to 4.00 lower, 8 to 9 weights were steady to 2.00 higher, and over 900 pound offerings trended steady. Heifers sold 1.00 to 3.00 lower. Demand was good and the trade was moderate to active. 314 feeder steers medium and large 1 averaging 875 pounds traded at 111.40, 459 heifers weighing 878 averaged 105.81 per hundredweight.
Barrows and gilts in the Iowa/Minnesota direct trade opened 3.80 higher, and the West was up 3.98, both at 84.15 on a carcass basis, the East is .66 lower at 78.49. The Missouri direct base carcass meat price is steady from 71.00 to 73.00. Iowa barrows and gilts last week averaged 266.7 pounds, 1.1 pounds heavier than the previous week and .7 pounds lighter than 2009. Live weights should trend steadily higher for the next several months.
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