Private sources are reporting a few bids on the cattle in the South at 114.00 live and in the North from 183.00 to 185.00 far below asking prices of around 121.00 in the South and 193.00 to 195.00 North. DTN says they would assume steady bids with last week could bring about plenty of seller interest. Barring a sudden collapse in futures or cutouts, asking prices should remain firm.
Boxed beef cutout values are mixed at midday with the choice beef down .45 at 197.55, and select up .43 at 180.65.
Feeder cattle receipts at the Springfield, Missouri Livestock Marketing Center totaled 2,566 head on Wednesday. Compared to last week steer and heifer calves were 2.00 to 6.00 lower, yearlings steady to 3.00 lower compared to a limited test last week. Feeder steers medium and large 1 weighing 525-600 lbs. traded from 163.00 to 177.00, 6 to 7 weights from 153.00 to 165.00. 450 to 500 lb. heifers brought 153.50 to 160.50, 5 to 6 weight heifers traded from 147.00 to 161.00.
Barrows and gilts in the Iowa/Minnesota direct trade are .12 lower at 101.28 on a carcass basis, the West is down 1.20 at 100.12, and the East is 2.81 lower at 98.26. Missouri direct base carcass meat price is steady to 1.00 higher from 92.00 to 96.00. Terminal prices are fully steady from 61.50 to 65.00 on a live basis.
Iowa barrows and gilts last week dropped to 272.1 pounds, 2.4 pounds lighter than the prior week and 3.8 pounds bigger than 2011.