Still not hearing about al lot of action in the cash cattle trade, but the expectation is packer inquiry will improve as the day progresses. Private sources reported to DTN there have been a few bids from a regional packer in Nebraska as high as 195.00 to 196.00, and a major has bid 192.00 in the Eastern part of the state, that bid was passed. Significant trade may be delayed until after the cattle on feed report is released this afternoon. Asking prices are 128.00 plus in the South, and 198.00 plus in the North.
Boxed beef cutout values were steady to higher with the choice down .10 at 192.83, and the select is .80 higher at 172.22.
Feeder cattle receipts at Missouri auctions this week totaled 31,085 head. Compared to last week, steers weighing 450 to 650 lbs. sold steady and they were a large percentage of the auction receipts. Weights under 450 lbs. and over 650 were uneven from 2.00 lower to 2.00 higher. Feeder heifers were steady to 3.00 lower. The overall feeder supply is moderate. However as is typical for this time of year, true yearlings are difficult for buyers to find. Demand was good. Feeder steers, medium and large 1 weighing 500 to 600 lbs. averaged 159.14 per hundredweight. 5 to 6 weight heifers brought 140.65.
Barrows and gilts in the Iowa/Minnesota direct trade opened .68 higher at 75.02 on a carcass basis, the West was up .42 at 74.75, and the East is down 1.43 at 72.85. Missouri direct base carcass meat price is steady from 70.00 to 76.00. Terminal hog prices are steady to a 1.00 lower live basis in a light test from 49.00 to 55.00.
For the week ending November 3, sow slaughter totaled 60,198 head, 5.4% below the previous year. This represents the fourth consecutive week of reduced sow slaughter, strongly suggesting that producers have shifted back into expansion gear.© Copyright 2012 Brownfield, All rights Reserved. Written For: Brownfield