There was a light to moderate cattle trade in all three major feeding areas on Thursday. Cattle on a dressed basis in Nebraska ranged from 194.00 to 197.00, mostly at 196.00, 4.00 lower than last week’s weighted average. Cattle on a live basis in Kansas and Texas traded at 123.00, 2.00 lower. Asking prices for cattle remaining on the showlists are around 126.00 plus in the South and 199.00 plus in the North. While we may see some trade today, it is sounding like business could be essentially done for the week.
Boxed beef cutout values are mixed in the morning report with the choice beef down .70 at 182.93, and select up 1.11 at 180.71.
Feeder cattle receipts at the Ogallala, Livestock Auction in Nebraska totaled 6300 head on Thursday. Compared to two weeks ago steers and heifers were 4.00 to 6.00 lower. The trend showed a slower demand. 470 steers’ medium and large 1 averaging 682 lbs. brought 155.14 per hundredweight. 446 heifers weighing 570 lbs. traded at 147.49.
Barrows and gilts in the Iowa/Minnesota direct trade are 1.61 lower, the West is down 1.51 with both at 80.78 on a carcass basis, and the East is 1.40 lower at 81.12. Missouri direct base carcass meat price is steady to 2.00 lower at 78.00. Terminal hogs are steady to 2.00 lower from 52.00 to 58.00.
Given the way hog buyers keep lowering bids even in the face of limited county receipts suggests that packers have their slaughter needs pretty well in hand for the foreseeable future.