Direct cash cattle trade is quiet with today’s focus on the distribution and collection of new showlists. The majority of last week’s business didn’t happen until Friday and live trade was at mostly $115, nearly $5 higher than the previous week’s weighted average. Northern dressed trade was around $183, generally $6 higher. Significant trade volume isn’t expected to happen until the latter part of the week.
Boxed beef cutout values are mixed at the midday, lower on Choice and steady on Select. Choice down $1.08 at $225.13 and Select is $.16 higher at $203.34. The Choice/Select spread is $21.79.
At the open, at the Oklahoma National Stockyards, receipts are down on the week, but up for the year. Feeder steers and heifers are trading $1.00 to $2.00 higher. Steer and heifer calves are too lightly test in the early rounds, but a higher undertone is noted. The USDA says demand is good and the quality is average to attractive. Feeder supply included 7 1percent steers and 84 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 700 to 800 pounds brought $143.00 to $149.00 and steers 900 to 1000 pounds are $120.00 to $132.00. Medium and Large 1 feeder heifers 600 to 700 pounds brought $138.00 to $150.00.
Source: Brownfield Ag News