Direct Slaughter Cattle - Mexico, Missouri
USDA - Fri Jul 06, 1:00PM CDT
JC_LS135 ***updated 12:30PM***
Jefferson City, MO    Fri Jul 06, 2018  MO Dept of Ag-USDA Market News

Missouri Weekly Direct Slaughter Cattle (week end 07-06-2018)

Confirmed Sales:

  Week to date: 760       Last week: 360      Last Year: 120
( These prices acquired from Missouri producers )

     Trading from late last Friday through Friday morning remains 
light.  Trade finally broke loose around noon on Friday with Flat dressed 
prices 5.00 higher at 175.00, and grid dressed prices 7.00 higher at 
180.00.  Packers and cattle producers are waiting for trade to take 
place as producers want to adjust prices higher.  CME cattle futures saw 
good strength to start the week and followed through on last Friday�s 
rally.  It�s looking like the packers will need to rely on the negotiated 
cattle to keep inventories moving, this should give support to the market 
this week as time seems to be on the side of the producer.  With pressure 
on many ag commodities ahead of the July 4th Holiday saw grains sell off 
with sharp losses on Tuesday, cattle markets remain resilient.  Crop 
conditions for the week ending July 1, USDA reported 76 percent of the 
corn crop rated good to excellent, 1 percent lower than a week ago, but 8 
percent higher than a year ago.  Soybeans are rated 71 percent good to 
excellent, 7 percent higher than a year ago.  Boxed-beef prices continue 
to show some fatigue as July is National Hot Dog month (estimated 150 
million consumed on the 4th alone) and noted for being a hamburger month, 
but beef demand still remains thriving with beef features in retail 
columns still leading the way.  Loin and ribs decline during the summer 
but packer margins remain excellent and strong sales should continue to 
support slaughter levels.  The choice cut-out on Thursday closed 1.83 
lower at 208.43 with Select down 1.01 at 198.70 as the spread narrows to 
9.73, compared to last Friday�s close with Choice at 211.96 and Select at 
198.57.  The hide and offal value from a typical slaughter steer was 
estimated at 9.47 per cwt live, down .01 cent when compared to 
Wednesday�s value.      

Live Sales: 
Slaughter steers and heifers: (over 80 percent Choice)      

(Note: Weighing conditions some plant delivered weights and some net
 weights FOB feedlot after a 4 percent shrink.

Dressed Carcass Sales: (Paid on Hot Carcass Weights) Delivered or
 Picked up (Weight only)      
   Steers and Heifers: (80 percent Choice) 15 loads Flat 175.00 

(Grid) Grade and Weight Carcass: (over 80 percent Choice) 4 loads Grid 

Source:  MO Dept of Ag-USDA Market News Service, Mexico, MO
         Greg Harrison, Market Reporter 573-751-5618
         24 hour recorded report 573-522-9244

0730cdt md