Midday cash livestock markets

Direct cash cattle trade is slow with a few scattered bids reported.  Packer inquiry will likely continue to improve over the course of the day.  However – significant trade volume could be delayed until Friday.  Asking prices are around $110 plus in the South and $174.00 in the North.  Private sources have reported bids at $106 live and $169 to $170 dressed.

Boxed beef cutout is mixed on light to moderate box movement.  Choice is firm – up $.25 at $197.66 and Select is weak – down $.33 at $189.22.  The Choice-Select spread is $8.44.

At the Hub City Livestock Auction in South Dakota receipts were up on the week.  Steers were mostly steady.  The USDA says the demand was good to very good for strings, loads, and packages of yearlings.  The quality ranged from plain to attractive.  There were also a few loads and packages of spring calves – and the USDA says the demand was good to very good.  Feeder supply included 46 percent steers and 84 percent of the offering was more than 600 pounds.  Feeder steers, Medium and Large 1 calves 657 to 667 pounds were $170.25 to $179.00 and Medium and Large 1’s 854 to 874 pounds were $156.00 to $161.75.  Feeder heifers, Medium and Large 1’s 805 to 844 pounds were $142.10 to $147.00 and Medium and Large 1’s 850 to 887 pounds were $139.00 to $148.75.

Source: Brownfield