Packer buying interest in the feedlot trade is light to moderate. A few sales have been reported in Texas at 125.00 steady with early week trade and $2.00 less than last week Asking prices are around 125.00 to 127.00 in the South and 200.00 to 202.00 in the North. Producers have a hopeful eye on futures as live cattle contracts tried to build on yesterday’s reversal. Both live and feeder contracts were showing decent gains at midday supported by short covering and technical buying.
Boxed beef cutout values are lower with choice down 1.41 at 192.00, and select boxes 1.13 lower at 191.90.
Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 3900 head on Wednesday. Compared to last week, feeder steers and heifers over 700 pounds sold steady. There were not enough light stocker cattle for an adequate market comparison. Demand was good from a large crowd of buyers. Also internet buying was active. Feeder steers averaging 713 pounds traded at 140.98 per hundredweight. 714 pound heifers brought 130.25.
Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western barrows and gilts are 1.25 lower with a weighted average of 70.88 on a carcass basis; the national direct trade is 1.55 lower at 69.48. Missouri direct base carcass meat price is steady from 65.00 to 70.00.Terminal markets are lightly tested at steady prices with tops from 50.50 to 54.00.
Pork trading is very slow with light demand and light to moderate offerings.
The Senate voted on Wednesday to provide extra funds for USDA to avoid furloughing meat inspectors as senators began wrapping up debate on a bill to fund the federal budget for the rest of the year.