There is not a lot of action in cattle country on Thursday without even a token bid on the table. Asking prices are around 128.00 plus in the South and 198.00 plus in the North. Significant trade volume could be delayed until after the November 1 feed report is released on Friday afternoon.
Boxed beef cutout values were lower in the morning report, with the choice down .19 at 193.03, and select was 1.15 lower at 173.
Hub City Livestock Auction, Aberdeen, SD had feeder cattle receipts of 7609 head on Wednesday. Steer and heifer calves sold unevenly steady, yearlings were 2.00 to 4.00 higher. There was an active market with good demand. Feeder steers, medium and large 1 weighing 531 lbs. traded at 160.57 per hundredweight. 531 lb. heifers brought 145.65.
Barrows and gilts in the Iowa/Minnesota direct trade, and the West are both 1.25 lower at 74.63 on a carcass basis, the East is down .90 at 73.51. Missouri direct base carcass meat price is steady from 70.00 to 76.00. Terminal hogs are fully steady from 50.00 to 55.00 live.
The pre-Thanksgiving pork trade is really coming unhinged. Led by a $5 drop in 14- to 16-pound bellies, carcass value collapsed on Wednesday by $2.55. Wholesale buyers will remain very cautious through the balance of the week.