The main item of business in cattle country on Monday is the distribution of the new show lists. Encouraged by the success of their post-holiday leverage in the cash trade, feedlot managers will not hesitate to price new showlists on a firm basis, 123.00 to 124.00 South and 197.00 plus in the North. While the new fed offering should be larger, packers seem short-bought and ready to plan fairly aggressive chain speed.
Boxed beef cutout values are mixed with the choice up .25 at 197.50, and the select is down .55 at 184.81.
Feeder cattle receipts at the Ft. Pierre Livestock Auction at Ft. Pierre. SD totaled 9309 head on Friday. There was no feeder sale last week so the comparison on prices is made with two weeks ago. Feeder steers sold 2.00 to 5.00 higher; feeder heifers sold 2.00 to 4.00 higher. There were many more feeder cattle than there were two weeks ago, many long strings and packages sold in a very active market with very strong demand. 893 head of feeder steers, medium and large 1 weighing 574 lbs. averaged 191.31 per hundredweight. 509 heifers weighing 625 lbs. brought 167.65.
Barrows and gilts in the Iowa/Minnesota direct trade opened 2.92 lower, the West is down 2.91 with both at 83.06 on a carcass basis, and the East is .91 lower at 82.34. Missouri direct base carcass meat price is3.00 to 4.00 higher from 80.00 to 82.00. Terminal hogs are steady to 3.00 higher from 55.00 to 58.00.
The pork carcass value moved higher for the fourth-consecutive session on Friday, supported by all primals except the rib. The cut-out will start out this week at its highest level since May 17.