Cattle buyers are collecting new showlists this morning, and they are expected to be generally larger after last week’s slow movement at least in the negotiated trade. A few cattle sold in Kansas at 116.00, 1.00 lower than the previous week. In Nebraska the dressed market was steady to weak from 186.00 to 189.00. Virtually no sales were reported in Texas. Packers may be fairly close to the knife. But DTN says some believe packers have sufficient numbers of formulated cattle coming their way to make it through the holiday period without showing a great deal of buying interest.
Boxed beef cutout values are mixed in the noon report. Choice beef was up .63 at 195.29, and select is down .49 at 177.60.
FT Pierre Livestock Auction at FT. Pierre, SD had receipts of 3,339 cattle last week. Compared to two weeks ago 700 to 949 lb. steers sold steady to 2.00 lower, 950 to 999 lbs. sold 1.00 higher, feeder heifers were lightly tested. There was good demand for several long strings of feeder steers, many smaller packages sold on a moderate market with fewer cattle in the supply compared to two weeks ago. Feeder steers, medium and large 1 weighing 923 lbs. averaged 138.39 per hundredweight. 715 lb. heifers brought 144.25.
Barrows and gilts in the Iowa/Minnesota direct trade are down .90 and the West is .83 lower with both at 98.17 on a carcass basis, Eastern hogs are down .91 at 94.16. Missouri direct base carcass meat price is steady to 1.00 lower from 91.00 to 95.00. Terminal hogs are very lightly tested at steady prices live from 63.00 to 66.00.
Though containing no big surprises, the June Hogs and Pigs inventory appeared to be slightly supportive to sharply discounted deferred lean contracts.