So far today cattle country is quiet with bids and asking prices not well defined. . There are a few reports of cattle being priced around 127.00 to 128.00 in the South, and 205.00 plus in the North. Significant trade volume could be delayed until the second half of the week.
Boxed beef cutout values were higher in the morning report with the choice up 1.26 at 184.00, and the select was 1.16 higher at 180.17.
Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 7500 head. Feeder steers and heifers were mostly steady with the exception of 800 lb. and heavier steers 1.00 to 3.00 lower. Steer and heifer calves were steady to 3.00 higher, with 4 weight heifer calves up to 10.00 higher. Demand was moderate to good for all classes. Feeder steers medium and large 1 averaging 824 lbs. brought 141.52. 769 lb. heifers averaged 137.10.
Barrows and gilts in the Iowa/Minnesota direct trade opened 2.13 lower at 85.44 on a carcass basis, the west was down 1.72 at 85.42, and Eastern barrows and gilts were 1.08 higher at 84.55. Missouri direct base carcass meat price is steady to 2.00 lower from 81.00 to 82.00. Terminal hogs on a live basis are fully steady from 57.00 to 60.00.
DTN reports, hog buyers sure didn’t act interested in collecting live inventory on Monday. Since we’ve moved into a new month, perhaps they’re “blessed” with more contracts/captive supplies.