Midday cash cattle markets

Direct cash cattle markets are at a standstill. Asking prices are scattered at $120 live with a handful of bids at $116 in Kansas, and this week’s showlist looks larger than last week, especially in Texas. When business starts this week will depend on packer demand, basis levels, and activity on the futures market. Wholesale trade has been broadly mixed, but out-front sales have been strong, in anticipation of better demand. The offering for Wednesday’s Fed Cattle Exchange event is 3,931 head, the largest in a while.

Boxed beef at midday was mixed with moderate movement. Choice was up $.10 at $215.14 and Select was down $.82 at $202.32.

At the Joplin Regional Stockyards feeder cattle sale in Missouri Monday, compared to the lighter test a week ago, steer and heifer calves were steady to $3 higher. Yearling heifers were steady to $3 higher and yearling steers were $2 to $4 higher. The USDA says demand was moderate to good for a light to moderate supply. Medium and Large 1 feeder steers weighing 400 to 500 pounds were reported at $174 to $199 and 500 to 600-pound steers brought $160 to $177. Medium and Large 1 feeder heifers weighing 400 to 500 pounds sold at $147 to $162.50 and 500 to 600-pound heifers ranged from $143 to $155.

Source: Brownfield