Light inquiry into the cash cattle trade began to surface in parts of Kansas and Nebraska near midday with a few bids of 121.00 live and 188.00 to 189.00 dressed. Yet packers in general remain quite guarded. On the other hand, asking prices remain firm at 125.00 plus in the South and 193.00 to 195.00 plus in the North. DTN says something will have to change over the next 24 to 36 hours. Live cattle contracts were mixed and feeders were moderately lower near the noon hour.
Boxed beef cutout values were higher in the morning report, with the choice up .76 at 191.46, and select was .46 higher at 177.99.
Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 1435 head on Wednesday. Compared to last week, steer and heifer calves sold mostly steady. There were not enough yearling feeders for an adequate market trend. Most calves had precondition shots and some were weaned. Feeder steers, medium and large 1 weighing 630 lbs. averaged 153.90. 581 lb. heifers brought 142.52 per hundredweight.
Barrows and gilts in the Iowa/Minnesota direct trade opened 2.65 lower at 77.76 on a carcass basis, the West is down 2.44 at 77.16, and the East is .73 higher at 75.25. Terminal barrows and gilts are steady to 1.00 higher from 50.00 to 54.00 on a live basis. Missouri direct base carcass meat price is steady from 70.00 to 73.00.
Iowa market hog weights last week averaged 269.2 pounds, 1 pound below the previous week and 1.3 pounds lighter than 2011. This represents the first scale ticket under the previous year since mid-November 2011.
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