It is a pretty typical Tuesday in cattle country, with bids and asking prices still not well defined. Some feedlot operators could start out pricing their showlists at 126.00 to 127.00 live and 200.00 plus dressed. Cattle country psychology received a nice shot in the arm from exploding futures on Monday. Accordingly, asking prices will probably remain high and tough until late in the week if necessary. Packer bids may be slow to develop with buying attitudes poorly defined until at least Wednesday or Thursday, according to DTN
The boxed beef spread continues to narrow with the choice beef down .58 at 187.03, and select is .43 lower at 181.99.
Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 5692 head. Compared to last week, steer calves over 425 lbs. were steady, heifer calves over 425 lbs. steady to 3.00 higher, steer and heifer calves weighing less than 425 lbs. 5.00 to 10.00 higher. Yearling feeders were 1.00 to 3.00 higher. Demand was moderate to good for a moderate supply. Feeder steers medium and large 1 weighing 674 lbs. averaged 153.07 per hundredweight. 665 lb. heifers brought an average of 140.36.
Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality. Western markets are .98 lower at 84.62 on a carcass basis; the East is down .83 at 81.38. Missouri direct base carcass meat price is steady from 79.00 to 80.00. Terminal barrows and gilts on a live basis are fully steady from 56.00 to 58.00 live.
It feels like pork processors have once again started the workweek relatively short bought. Despite steady/firm bids on Monday, country receipts were quite modest with the national report counting no more than 8,017 negotiated on a dressed basis.
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