It is a typical Tuesday in cattle country with bids and asking prices still not fully established. A few showlists have been priced around 164.00 in the South, and 255.00 plus in the North. Though mixed from state to state, generally smaller in the South and larger in the North the new showlists look generally steady with last week. Fed cattle supplies are likely to remain relatively tight through the entire fall season.
Choice boxed beef 248.62, down .40, select is up .22 at 233.50 in the morning report.
Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 8100 head. Compared to last week, feeder steers and heifers trended steady to firm. Steer and heifer calves were mostly steady to 5.00 higher. There were very few true yearlings on offer with the majority of the supply consisting of un-weaned calves, as a result the most advances were recorded on larger packages of weaned cattle. Feeder steers medium and large 1 averaging 868 pounds brought 218.33 per hundredweight. 628 pound heifers traded at 230.26.
Barrows and gilts in the Iowa/Minnesota and Eastern direct trade are not reported due to confidentiality. Western hogs are .78 lower with a weighted average on a carcass basis at 102.71. Nationally barrows and gilts are 1.84 lower at 98.88. Missouri direct base carcass meat price is steady from 90.00 to 97.00. Barrows and gilts at Midwest markets are fully steady from 65.00 to 74.00 on a live basis.
The pork carcass cutout value FOB plant 109.11, up .26 in the morning report.
Weights on the hogs moving to market remain well above year ago levels, almost large enough to offset the smaller head count. Over the next several weeks, hog kills should continue to trend seasonally larger and the gap to last year’s weekly kill volume will get smaller and smaller.