Southern cattle still in feeders’ hands

Market News

Southern cattle still in feeders’ hands

Private sources report a few scattered cattle bids at $138.00 on the table in parts of Texas, but as of midday, no takers. Asking prices are around $140 plus in the South. The ask is $224 in the North, where it appears business could be finished for 2021, although a few trades here and there are not out of the question, according to DTN.

Boxed beef at midday is mixed after gaining strength most of this week. Choice boxes are down $.65 at $265.06. On the other hand, select boxes are $.80 higher at $257.89, cutting the spread between choice and select boxes to $7.17.

There’ve been no cattle auctions to speak of this week, but in Nebraska barns last week, compared to the week prior, steers under 600 pounds sold $10.00 lower, heavier weights were $2.00 to $3.00 lower. Heifers under 500 pounds sold $9.00 lower on a thin test, 500-to-800-pound heifers were steady, 800-to-900-pounders were $6.00 lower and heifers over 900 pounds sold $3.00 higher. Demand was moderate to good with several buyers in attendance as well as some internet buying going on.

Medium and large #1 steers:
293 head, weighing 550 to 595 pounds, brought $170.00 to $190.00.
358 head, weighing 600 to 648 pounds, brought $167.00 to $176.75.
906 head, weighing 806 to 848 pounds, brought $154.00 to $167.00.

Medium and large #1 heifers:
311 head, weighing 500 to 546 pounds, brought $156.00 to $177.75.
501 head, weighing 601 to 648 pounds, brought $151.00 to $166.00.
236 head, weighing 751 to 790 pounds, brought $147.00 to $156.00.

Pork demand in 2022 is still uncertain, but the prevailing feeling about tightening pig supplies from the latest numbers report is providing a bullish attitude about cash hogs.

National Direct cash hogs: There were 5,545 sold, but the price wasn’t reported because of confidentiality. The five-day rolling average price for National Direct hogs is $60.51.

The pork carcass cutout price is sharply higher at midday. It’s up $9.25 at $93.54. Loins are up $18.40, and bellies are higher by $15.78.