Moderate cattle trade volume was evident on Thursday afternoon in both Kansas and Texas, although Kansas appeared to be the more active of the two regions. The market was steady with last week at 132.00. Significant losses in live cattle futures no doubt promoted selling interest among some risk managers. Activity in the North remained limited with a few bids reported at 131.00 to 132.00 live and 208.00 to 209.00 dressed. Feedlot managers there are holding for higher asking prices of 210.00 to 212.00 dressed. The kill totaled 122,000 head, 6,000 smaller than last year, and not comparable to last week’s holiday.
Boxed beef cutout values were weak on light demand and light to moderate offerings. Choice boxed beef was down .89 at 202.41, and select was .42 lower at 189.62.
Live cattle futures contracts settled 32 to 105 points lower. Futures saw mixed prices early but strong aggressive losses developed through the pit in the morning as pressure developed in the lean hog contracts and a lack of confirmation of widespread beef values created moderate to active liquidation. The lack of support through the complex may create uncertainty through the end of the week. December settled 1.07 lower at 131.65; the February was down 1.52 at 132.90.
Feeder cattle ended the session 32 to 105 points in the red on the lack of support in the live pit and corn markets moving into positive territory. The moves in the livestock market are based less on fundamental changes in the market and more on the lack of renewed interest during the trading session. January finished 1.15 lower at 82.52, and February was down .32 at 88.67.