Cattle country is typically quiet on Monday with bids and asking prices not well defined. Last week’s trade just trickled in throughout the day on Friday. Trade volume totals in the cattle were minimal so packers could start this week extremely close to the knife. Southern live business was marked 2.00 lower at 125.00 to 126.00. Nebraska’s dressed trade was mostly at 199.00. 1.00 to 2.00 lower.
Boxed beef cutout values are higher with the choice up .22 at 195.25, and the select is .65 higher at 174.85.
Feeder cattle receipts at the Herreid, South Dakota Livestock Market totaled 7132 head. Compared to the sale two weeks ago in a limited test, steers weighing 450 to 650 lbs. sold steady to 2.00 higher. Heifers weighing 350 to 700 lbs. were 5.00 t0 8.00 higher with the exception of 550 to 700 lb. weight groups, which sold steady. 485 head of feeder steer calves averaging 627 lbs. brought 153.86 per hundredweight. 173 heifer calves weighing 621 lbs. traded at an average of 144.29.
Barrows and gilts in the Iowa/Minnesota direct trade opened 2.15 higher at 85.46 on a carcass basis, the West was up 1.99 at 85.14, and the East was 1.12 higher at 81.24. Missouri direct base carcass meat price is steady from 69.00 to 76.00. Barrows and gilts at the terminals are steady to 1.00 higher from 53.00 to 55.00.
Hog buyers were still scrambling for market barrows and gilts on Friday, jacking the weighted average dressed price in Iowa by as much as $2.45. As a rule of thumb, whenever packers end a week looking short bought, they start the following week in the same condition.
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