Midday cash markets

Direct cash cattle trade picked up today compared to last week.  Bids are ranging at about $115 live in the South.  Northern dressed trade is very light with asking prices about $2 lower than last week’s average in Nebraska at $184 to $185.  Some asking prices continue to be around $118 in the South and $188 in the North. Trade could increase by the end of the day.

The offering at this week’s Fed Cattle Exchange was better than last week with over 1,600 head and 518 head sold with a weighted average of $115.04 down $.96 from last week.  There were 397 sold for 1-9 Day with weighted average of $115.28; 48 sold for 1-17 day delivery with an average of $114.50; and 73 sold for 17-30 day delivery with an average of $114.  The next event is scheduled for Wednesday, August 16th.

The boxed beef cutout is mixed at the midday on light to moderate movement.  Choice is down $.08 at $202.17 and Select is up $.17 at $197.03.

At the feeder cattle auction in Philip Livestock Auction in Sioux Falls, SD, the USDA says there was good demand for several strings and many packages of feeder steers and heifers.  Much of the supply was off grass and carried light to moderate flesh.  Of the feeder cattle offering – nearly 60 percent of the supply was heifers.  Medium and Large 1 steers 950 to 1000 pounds brought $142 to $147, other classes were too lightly tested.  Medium and Large 1 heifers 900 to 950 pounds brought $135 to $140.75 and heifer s950 to 1000 pounds brought $144.75 to $138.50.

Source: Brownfield