Feedlot cattle country is very quiet on Tuesday, with bids and asking prices not fully established. A few feedlot managers have priced showlists around 126.00 to 127.00 in the South and 195.00 plus in the North. This week’s offering appears to be about steady with last week. Significant trade volume is not expected until the second half of the week.
Boxed beef cutout values are higher in the midday report. Choice beef is up 1.14 at 191.71, and select is 1.51 higher at 177.93.
Feeder cattle receipts at the Joplin, Missouri Regional Stockyards totaled 3895 head. Compared to last week, steer and heifer calves and yearlings were steady to 3.00 higher, except 450 to 600 lb. steer calves 4.00 to 6.00 higher following last week’s sharply lower trade. Demand was moderate to good on a moderate supply. Feeder steers, medium and large 1 weighing 526 lbs. brought 157.23 per hundredweight. 527 lb. heifers traded at 137.08.
Barrows and gilts in the Iowa/Minnesota direct trade opened .38 lower at 79.86 on a carcass basis, the West was .01 higher at 79.71, and the East is .08 higher at 78.88. Missouri direct base carcass meat price opened steady to 5.00 higher from 75.00 to 78.00. Terminal hogs are steady to 2.00 higher on a live basis from 50.00 to 56.50.
This week’s hog slaughter should be at least as large as last week; such an aggressive pace of harvest should continue to keep live and carcass weights in check.