A few scattered cattle sales were reported in Kansas Friday. Thursday brought a moderate trade in the North, with dressed sales trading from 202.00 to 204.00.00, mostly 204.00, $5.00 to 6.00 higher than the bulk of last week’s business, basis Nebraska. A light trade was reported in the South fully steady with Wednesday’s trade of 129.00, although there were a few deals marked as high as 131. The weekly cattle slaughter was estimated by USDA at 614,000 head, 25,000 less than last year.
Boxed beef cutout values were firm on the choice but lower on select on light demand and moderate offerings. Choice boxed beef was up .26 at 196.29, and select was down 1.74 at 179.98.
Live cattle contracts on the Chicago Mercantile Exchange settled unchanged to 72 higher after trading mixed for much of the session. Strong gains developed and held through October live cattle futures. The focus was on the higher cash cattle trade on Thursday and that drew active buying to the market. October ended the session .72 higher at 129.87, and December was up .25 at 132.02.
Feeder cattle settled 22 points higher to 35 lower. The feeder market was checked by follow through selling, profit taking and suggestions that delivered contracts may have at least reached a temporary top. The gains were attributed to the higher live cattle contracts. October was up .22 at 166.07, and November was down .05 at 166.85.
Feeder cattle receipts at Missouri Auctions totaled 25,966 head this week. Compared to last week, feeder steers sold steady to 5.00 higher and heifers sold steady to 3.00 higher. Not enough Holsteins for a market test this past week. Lighter weight calves found the most strength in this week’s auctions. Cooler weather has slightly decreased the risk of sickness as many of these young claves are being separated from their mothers for the first time. Feeder steers medium and large 1 averaging 527 pounds traded at 181.21 per hundredweight. 724 pound steers brought 164.03. 522 pound heifers traded at 161.47 and 766 pounds at 154.41.
Lean hogs settled 5 to 50 points lower pressured by reports of softer cash sales and defensiveness in the wholesale product trade. The carcass value dropped sharply in the morning report. December settled .50 lower at 87.95, and February was down .47 at 90.05.
Barrows and gilts in the Iowa/Minnesota direct trade were .57 lower with a weighted average of 90.83 on a carcass basis, the West was down .68 at 90.58, and the East was 1.42 lower at 88.75. Missouri direct base carcass meat price closed steady from 82.00 to 83.00. Live hogs at terminals were steady to .50 lower from 58.00 to 66.00.
Pork cutout value FOB plant was down 1.58 at 94.30, with bellies and loins responsible for the lower values.
Seasonally speaking, weekly hog kills could steadily grow for another six weeks. Indeed, more time than not the largest slaughter of the fourth quarter won’t surface until early December.
The weekly hog slaughter was estimated at 2,297,000 head, 85,000 less than last year.
© Copyright 2013 Brownfield, All rights Reserved. Written For: Brownfield