Direct cash cattle business may be wrapped up for the week. Wednesday, trade was light to moderate in most of the major feeding areas. Live trade in Texas was up $2 on the week at $128 on the live basis and Kansas was mostly $2 higher at $127 with a few up to $128. In Nebraska, live sales were $2 to $2.50 higher at $127 to $128.50 and dressed trade was $4 to $5 higher at $201. Live trade in Iowa was up $2.50 to $3 at $127.50 to $128 and dressed activity was $4 to $5 higher at $200.
Estimated trade volume for Wednesday topped 41,000 head in Nebraska according to Dow Jones Newswires, while DTN says 10,000 to 15,000 traded in Kansas with another 5,000 to 10,000 head moving in Texas. What’s left on the showlists are priced at $129 to $130 South and $202+ North.
Boxed beef at midday was mixed. Choice was up $1.10 at $195.99 and Select was down $.07 at $174.30.
Coming back from the holiday, it looks like some hog packers still have to fill their schedules for Saturday with most estimates topping 350,000 head. Still, business should be limited with an eastern plant and a few sow processors closed.
The National Direct market opened $2.85 lower at $66.50 to $75 with the weighted average at $72.07, the Eastern Cornbelt is up $.12 at $71.50 to $72.97 for an average of $71.94, the Western Belt is down $1.92 at $66.50 to $76 with the average at $74.52, and Iowa/Southern Minnesota is $1.48 lower at $66.50 to $76 for an average of $75.04.
Butcher hogs at the terminal markets are steady in a very light test. The only market reporting is Peoria, which is steady at $49. The Missouri Direct base carcass meat price is steady at $73 with limited bids and supply and demand both called light to moderate. Missouri Direct sows are steady on limited bids at $50 to $55.
Pork trade at midday was very slow with light demand and mostly light offerings. Boston butts were generally steady, lean trimmings were unchanged, and all other retail and processing cuts were not established.
USDA’s cold storage report confirmed a record amount of pork as of October 31 with USDA adding October pork production was a record 2.21 billion pounds.© Copyright 2012 Brownfield, All rights Reserved. Written For: Brownfield