Cattle country is quiet with only a token bid of 120.00 on the table in Kansas. DTN says they don’t expect to see significant trade until the last half of the week. The new show lists are generally larger than last week. Beef processors remain on the defensive, still looking for a reliable bottom in the wholesale market. Asking prices are around 126.00 plus in the South and 205.00 plus in the North.
Choice boxed beef is up .11 at 182.99, and select is down .01 at 178.67.
At the Oklahoma National Stockyards on Monday actual receipts totaled 7,075 cattle. Compared to last week, feeder steers weighing more than 750 pounds were steady to 2.00 lower, less than 750 lbs trended 1.00 to 2.00 higher. Heifers were steady to 2.00 higher. Demand was moderate to good for feeder cattle. Feeder steer and heifer calves were 3.00 to 6.00 higher, with good demand for the calves. Feeder steers medium and large 1 averaging 728 pounds traded at 149.71 per hundredweight. 728 pound heifers brought an average of 142.97.
Barrows and gilts in the Iowa/Minnesota direct trade are 3.05 lower at 83.89, weighted average on a carcass basis, the West is down 2.98 at 83.87, and in the East the market is 1.89 lower at 78.99. Missouri direct base carcass meat price is steady to a 1.00 higher at 81.00. Butcher hogs at the terminals are mostly steady with an instance of 2.00 lower from 55.00 to 61.00 on a live basis.
Hog buyers quickly returned with higher country bids on Monday, certainly not a good way to convince finishing floor managers that they don’t like the market or that they are surrounded by sufficient live inventory.
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