The cash cattle trade is developing early again this week, USDA Mandatory reports about 10,000 head have traded in the Southern Plains. The trading was described as moderate to active on good demand. Compared to last week, live sales are 3.00 higher at 132.00. Trading is inactive in all other areas and just a few scattered bids have been reported in Nebraska at 201.00 on a dressed basis. Asking prices in the North are around 205.00 plus, while Southern producers are looking for 131.00 to 132.00.
Boxed beef cutout values in the morning report are higher with the choice up 1.35 at 200.68, and select is 1.84 higher at 184.87.
Feeder cattle receipts at the Mobridge, South Dakota Livestock Exchange totaled 6347 head on Tuesday; this was the first reported sale in recent weeks, so no price comparisons are available. The sale was a special calf sale featuring Red Angus genetics however there were quite a few strings of black hided cattle offered as well. The overall quality was very high, and many were offered in full load lots. Demand was very good for all cattle, and there was excellent demand for Red Angus heifer calves with many headed back to the country as replacement heifers for next year. 861 feeder steers weighing 529 pounds averaged 192.95 per hundredweight. 348 replacement heifers weighing 521 pounds averaged 214.51.
The direct hog trade in Iowa/Minnesota and the West are not reported due to confidentiality. Barrows and gilts in the National report are .34 lower at 86.71 on a carcass basis; the East is .43 lower at 86.58. Missouri direct base carcass meat price is 1.00 lower at 82.00. Terminal hogs are steady to an instance of 1.00 lower from 57.00 to 64.00.
The pork cutout value is down .98 at 93.52 FOB plant.
Continued pressure expected in cash hog values will once again put the emphasis on readily available hog numbers for packers steady to aggressive procurement levels. This could throw futures markets in a continued volatile movement over the near future.
© Copyright 2013 Brownfield, All rights Reserved. Written For: Brownfield