Direct cash cattle trade activity has been relatively quiet. Asking prices have surfaced in the South around $116 to $117 live and $185 dressed in the North. Bids have been elusive. It’s likely significant trade volume will be delayed until the back half of the week.
Boxed beef is mixed at midday on light to moderate demand for moderate offerings. Choice is $.91 lower at $235.29 and Select is $.33 higher at $220.94. The Choice/Select spread is $14.35.
At the close, at the Joplin Regional Stockyards in Missouri, compared to last week steers and heifers under 700 pounds were $2 to $5 lower and over 700 pounds were steady. The inclement weather contributed to this week’s lighter supply. The USDA says demand was moderate. Receipts were down on the week and the year. Feeder supply included 59 percent steers and 48 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 601 to 648 pounds brought $140 to $153 and feeder steers 820 to 843 pounds brought $131 to $133.50. Medium and Large 1 feeder heifers 503 to 547 pounds brought $130 to $141.50 and feeder heifers 556 to 597 pounds brought $131 to $134.
Cash hogs are lower at midday with fairly light negotiated purchases.
