Cattle country is quiet with some thinking that business is essentially done for the week. Only about 8,000 cattle traded in Nebraska yesterday and only a light to moderate trade took place in the South on Tuesday. If trading is done for the week, packers may find themselves starting out next week short bought. Asking prices on cattle left on the showlists are around 127.00 plus in the South and 198.00 plus in the North.
Boxed beef cutout values are lower in the morning report with choice down 1.70 at 191.90 and select is .85 lower at 175.45.
Feeder cattle receipts at Missouri auctions this week totaled 32,099 head. Compared to last week, statewide prices on calves were mostly steady and yearlings were steady to weak as most reporters noted a limited test compared to a week ago. 1147 head of feeder steers medium and large 1 averaging 574 lbs. brought 158.30 per hundredweight. 597 heifers weighing 570 lbs. traded at 138.58 on average.
Barrows and gilts in the Iowa/Minnesota direct trade are .42 higher at 80.05 on a carcass basis, the West is up .05 at 80.04, and the Eastern markets are down 1.13 at 78.13. Missouri direct base carcass meat price is steady from 76.00 to 77.00. Terminal hogs are lightly tested at steady prices from 52.00 to 57.00 live.
For the four-week period ending October 13, federally inspected sow slaughter exceeded the previous year by 5.4%. Herd liquidation probably continues at a modest pace according to John Harrington at DTN.
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