Cattle country is relatively quiet on Wednesday with just a few bids being reported by private sources at 120.00 in Kansas and Texas. Asking prices are around 126.00 to 127.00 in the South and 203.00 to 205.00 dressed basis in the North. Assuming packers continue to limit their chain speed; significant trade volume could be delayed again until Friday.
Boxed beef cutout values are mixed at midday with the choice 1.04 higher at 184.27, and select down .02 at 178.06.
Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 3408 head. Compared to last week, steers traded 2.00 lower to 4.00 higher, with the decline on the steers over 800 pounds. Heifers were steady to 4.00 higher. The supply was moderate with good to very good demand with some softness noted on the heavier feeder steers. Buyers continue to be aggressive especially on higher quality, value added, uniform bunches. Feeder steers medium and large 1 averaging 521 pounds traded at 184.45 per hundredweight. 531 pound heifers brought 155.56.
Prices for barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Nationally the hog market is 3.56 lower with a weighted average of 80.33 on a carcass basis. Eastern barrows and gilts are .77 higher at 80.10. Missouri direct base carcass meat price is steady to 1.00 lower from 80.00 to 81.00. Terminal hogs are fully steady from 58.50 to 61.00.
Light country receipts so far this week suggests the market hog supplies may be finally tightening after being larger than expected through much of December and January.
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