We are starting to see a few bids on feedlot cattle at 125.00 in the South and 200.00 dressed. The trade is slow to start but the expectation is packer inquiry will improve as the day progresses. Asking prices are around 128.00 plus in the South and 205.00 plus in the North.
Boxed beef cutout values are lower in the morning report, choice beef is down .44 at 190.89, and select is .11 lower at 184.38.
Cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 3520 head on Wednesday. Compared to last week, steers over 700 pounds sold 2.00 to 4.00 lower and heifers over 700 pounds sold steady to 3.00 lower. There were not enough comparable weights less than 700 pounds on feeders for an adequate market trend. However, a lower undertone was noted. Demand was good for lightweight grass type cattle, cow calf pairs with moderate demand for feeder cattle. Feeder steers, medium and large 1 averaging 828 pounds averaged 129.21. 784 pound heifers brought 123.92.
Barrows and gilts in the Iowa/Minnesota, West and East direct trade areas are nit reported due to confidentiality. Nationally the direct barrows and gilts are .20 lower weighted averages on a carcass basis at 76.50. Terminal hogs are fully steady on a live basis from 50.00 to 54.00. Missouri direct base carcass meat price at 77.00. No comparisons on price as some buyers are out of the market through the weekend.
Pork carcass cutout value FOB plant is up .37 at 83.98 with picnics and butts lower and other cuts higher.
Iowa barrows and gilts last week averaged 276.5 pounds, .7 pound lighter than the prior week and only .1 pound heavier than 2012. The seasonal weight slide is beginning that typically extends into midsummer.