Bids and asking prices on this week’s cattle showlists are not yet fully established. Encouraged by late week packer spending, cattle feeders will be eager to price the new showlists significantly higher. Margin stressed packers will probably start out with a cautious frame of mind, hoping to sell boxes significantly higher in order to cover the rising cost of cattle. Friday’s trade was moderate to active in all three major feeding states with the Northern dressed deals generally 3.00 higher at 195.00. Southern business was also 3.00 higher at mostly 123.00 live.
Boxed beef cutout values are mixed in the noon report, with the choice up 1.89 at 194.40, and select down .37 at 186.19.
Feeder cattle receipts at the Herreid, SD livestock market totaled 10,145 head last week. There has not been a recent sale there, however feeder steers and heifers sold conservatively 8.00 to 10.00 higher than four weeks ago. The sale offered very high quality cattle at a very fast pace, many long distance buyers ringside as well as the usual attendees. There was a very active market with very good demand. 648 feeder steers medium and large 1 weighing 782 lbs. averaged 155.87 per hundredweight. 517 heifers weighing 769 lbs. average 144.43.
Barrows and gilts in the Iowa/Minnesota and Western direct trade are not reported due to confidentiality, in the East the market is .26 lower at 78.57 on carcass basis, and the national report has market hogs 3.33 lower at 79.11. Missouri direct base carcass meat price is steady to 4.00 higher from 75.00 to 76.00. Terminal hogs are 1.00 to 3.00 higher from 54.00 to 57.50.
Last week’s hog kill totaled 2.116 million head, up 1.3% from the week before and 4.2% greater than last year. This is the fourth consecutive week with hog slaughter well above the level expected based on the last hog inventory survey.