As is usual for a Monday, direct cash cattle markets are quiet. Friday, trade was light to moderate with live trade in the South a dollar higher at $117 and dressed business just about steady at mostly $186.50 to $188 in the North. Kansas moved around 15,000 head, Texas trade was about 7,000 head, and between 25,000 and 30,000 traded in Nebraska.
Asking prices are around $120 in the South and $190+ in the North with widespread business probably not in the cards until the second half of the week. In any event, until cash business starts, the trade will be monitoring cattle and corn futures, along with drought conditions around the Midwest.
Boxed beef cutout values were mixed in light movement. Choice was down $1.78 at $190.87 and Select was up $.26 at $174.97.
In feeder cattle trade last week, estimated receipts in Missouri totaled 11,799 head with steers and heifers $5 to $15 lower in a limited test with many auctions dark due to the 4th of July. 850 to 899 pound steers ranged from $128.50 to $143.10 and the 550 to 595 pound heifers sold at $131 to $150.25.
USDA reports Nebraska feeder receipts totaled 5,442 head with demand good for lightweight spring calves and moderate to good for feedlot placements. Steers over 600 pounds were steady to $3 lower, while heifers were unevenly steady, instances of $5 to $6 lower on 600 to 800 pound weights. 951 to 998 pound feeder steers sold at $133.50 to $136.50 and 761 to 799 pound feeder heifers ranged from $132.50 to $139.35.
The major direct hog markets are lower in a generally light test. Nationally, barrows and gilts are down $4.32 on the carcass basis with the base price range at $89 to $99 with the weighted average at $91.56. The Eastern Cornbelt opened $.99 lower at $90 to $97 with the weighted average at $91.41, while the Western Cornbelt and Iowa/Southern Minnesota were not released due to confidentiality.
Butcher hogs at the terminal markets are mostly steady, instance of a dollar higher at Peoria, with tops at $61 to $66. The Missouri Direct base carcass meat price is unchanged with light to moderate supply and demand at $88 to $92, and sows are steady at $41 to $48. Illinois Direct sows are $1 to $3 lower at $41 to $48 with boars ranging from $15 to $42.
In pork trade at midday on Monday, trade is very slow with mostly light demand and light to moderate offerings. USDA reports fresh pork cuts and trimmings were not fully established.