Cattle country is quiet on Friday following moderate to Active business in the North on Thursday with dressed business deals ranging from 194.00 to 195.00, mostly 194.00, and 1.00 lower than last week. It is looking like trading is completed for the week. Asking prices on the few cattle left on lists are around 122.00 to 123.00 in the South and 195.00 plus in the North.
Boxed beef cutout values are lower in the morning report, choice beef is down .85 at 194.71, and select is .75 lower at 186.09.
Feeder cattle receipts at the Mitchell Livestock Auction, Mitchell, SD totaled 3371 head on Thursday. Compared to last week, feeder steers were 1.00 to 5.00 higher on comparable sales with a higher undertone noted on all weights, feeder heifers weighing less than 600 lbs. had a weaker undertone noted, while over 600 lbs. they were mostly steady to 5.00 higher. Demand was good with many buyers and sellers in the stands. 232 feeder steers medium and large 1 averaging 877 lbs. traded at an average of 147.45 per hundredweight. 272 heifers weighing 880 lbs. brought an average of 133.08.
Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. National barrows and gilts are 1.30 lower with the base price range from 79.78 to 82.00 with a weighted average of 80.10 on the carcass basis. Missouri direct base carcass meat price is steady from 77.00 to 81.00. Terminal hogs are lightly tested, steady to .50 lower from 54.00 to 56.00.
U.S. Meat Export Federation (USMEF) officials also indicated that the year’s best demand for U.S. pork exports may have already come and gone, especially relative to the Pacific Rim. A foot-and-mouth outbreak in South Korea contributed to an increase in U.S. pork exports earlier in the year. But regional pork supplies could be ample for the balance of the year since South Korea’s pork production is bouncing back quicker than anticipated.
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