Cattle country is typically quiet on Monday with bids and asking prices not well defined. The main item of business is the distribution of the new showlists. Last week’s Southern trade just trickled in on Friday afternoon. Trade volume totals were minimal so packers will start this week extremely close to the knife. Live business in the South was marked at mostly 124.00, 1.00 lower in Kansas, but 3.00 lower in Texas. A moderate to active trade took place in the North according to DTN with dressed deals in Nebraska ranging from 196.00 to 198.00, mostly 197.00, generally 2.00 to 4.00 lower than the previous week.
Boxed beef cutout values are firm to higher in the morning report. Choice beef is up .96 at 193.91, and select is steady at 172.39.
Cattle receipts at South Dakota auctions last week totaled 38,726 head. Compared to the previous week, steer calves sold steady to 2.00 higher, instances of 3.00 to 5.00 higher on 450 to 600 lbs., yearling feeder steers 1.00 to 2.00 lower. Heifer calves weighing less than 450 lbs. 2.00 to 5.00 higher, over 450 lbs. steady to 2.00 higher. Yearling heifers steady to 2.00 higher. There was very good demand for calves, moderate to good demand, and moderate to good demand for yearlings. Feeder steers, medium and large 1 averaging 530 lbs. traded at an average of 175.02. 520 lb. heifers brought 153.99 per hundredweight.
Iowa/Minnesota and Western direct trade barrows and gilts are not reported due to confidentiality. In the East the market is 2.25 lower at 79.75 on a carcass basis, the National direct trade is down 2.36 at 79.58. Missouri direct base carcass meat price is steady to 2.00 lower from 74.00 to 80.00. Terminal hogs are steady to an instance of 4.00 lower from 52.00 to 56.00 live.
The monitors of gilt slaughter at the University of Missouri report signs of possible hog herd expansion. For the week ending Nov. 14, the gilt sample fell 3.2% below 2011; for the four-week period ending Nov. 24, gilt slaughter totaled 3.4% short of the same period last year.