It is a very typical Tuesday in cattle country with both bids and asking prices not well defined. While packer margins remain in the red, that fact really hasn’t stopped cattle buyers from bidding several dollars over the board since late October. However, feedlot managers may start to lose confidence as the odds of tough winter weather increase and late year marketing window narrows. Nominal asking prices are around 126.00 to 127.00 live and 202.00 plus dressed.

Boxed beef cutout values are mixed in the morning report. Choice beef is down .59 at 195.34 and the select is .47 higher at 177.42.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards totaled 6310 head on Monday. Compared to last week steers weighing less than 450 pounds trended mostly steady, 450 to 600 pound steers and heifers less than 650 pounds were 3.00 to 5.00 higher with some 400 to 600 pounds as much as 8.00 higher. Yearling steers and heifers were mostly steady, the market continues to show resilience even as many wonder if they can go higher than it currently is, but buyers are still aggressive and at times seem to slight quality for numbers. 186 head of feeder steers medium and large 1 weighing 623 pounds averaged 144.55. 247 heifers with an average weight of 471 pounds brought 139.12 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade opened 1.58 higher at 84.63 on a carcass basis, the West was up 1.46 at 84.33, and the east was .63 higher at 82.36. Missouri direct base carcass meat price was up 3.00 at 78.00 to 79.00. Terminal prices on a live basis are steady to as much as 2.00 higher from 56.00 to 62.00.

Once again, hungry hog buyers decorated the cash trade on Monday with a healthy combination of higher bids and decent negotiated trade volume. While such a one-two punch is always good news, it packs an extra wallop when delivered at the top of the week.