USDA Mandatory is reporting cattle have traded in Kansas on Wednesday. Trading is moderate to active and demand is moderate there with live sales steady to mostly 1.00 lower at 97.00 when compared with last week. Trading and demand is moderate in Western Nebraska. Compared to last week, live sales are 1.00 to 1.50 lower at mostly 97.00, trading remains mostly inactive in the rest of the state. Trading is light in Colorado with a few live sales at 97.00 and dressed sales at 155.00. Trading is mostly inactive in the Texas Panhandle.
Boxed beef cutout values were lower at midday, with the choice down .25 at 157.37, and select down .66 at 148.52.
Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, MO on Tuesday totaled 3100 head. Compared to last week, steer and heifer calves were steady to 5.00 lower. Yearlings were steady to firm. Feeder steers medium and large 1 and 1-2 weighing 500 to 600 pounds traded from 104.50 to 116.50, 7 to 8 weights from 100.00 to 107.50. Feeder heifers weighing 500 to 600 pounds brought 94.00 to 105.50 per hundredweight. Couple of part loads of heifers weighing 750 to 800 pounds traded at 98.00 to 99.50.
Iowa/Minnesota barrows and gilts opened 2.91 lower at 78.29 on a carcass basis, the West is down 2.72 at 78.22, and the East is 1.06 lower at 77.40.The Missouri direct base carcass meat price is steady to 5.00 lower on barrows and gilts at 70.00 to 74.00.
Seasonally speaking, cash hogs should typically decline for the next six to eight weeks. As far as the board is concerned, the fact that prices are now trading right up against five-year highs for this time of year makes the odds of higher prices rather remote.
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