The main item of business in cattle country on Monday is the gathering of the new showlists. Given the fact that cattle movement was decent in the North last week but generally light in the South, the fed cattle offering right before Thanksgiving could be mixed. Market watchers should have a better handle on ready supplies by early afternoon. A few early asking prices are around 128.00 to 129.00 in the South and 198.00 to 200.00 in the North.
Choice boxed beef in the morning report is 1.06 higher at 194.08, and select is .16 lower at 172.92.
Feeder cattle receipts at the Herreid Livestock Market at Herreid, South Dakota totaled 4729 head on Friday. Compared to the previous week, steer and heifer calves sold mostly steady to strong. It was an active cattle market with good demand. The quality of the offerings was good. 244 head of feeder steers averaging 572 lbs. traded at an average of 157.41 per hundredweight. 172 heifers weighing 584 brought 143.50.
Barrow and gilt prices in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Nationally the market is 2.21 lower on a carcass basis at 71.71, and the East is down 1.19 at 71.66. Terminal markets are not well established at steady prices with early tops from 51.00 to 54.00 live. Missouri direct base carcass meat price is steady to 1.00 lower from 69.00 to 76.00.
The red meat trade immediately before Thanksgiving is typically weak and slow. Wholesale beef and pork prices are likely to remain defensive until early next week.
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