Additional cash cattle business develops Thursday afternoon

Chicago Mercantile Exchange live and feeder cattle futures were down sharply ahead of the USDA’s Cattle on Feed numbers, out Friday afternoon. Ahead of the report, on average, analysts expect all major categories to be below a year ago. February live cattle was down $1.77 at $186.55 and April was $1.87 lower at $188.60. January feeders were $2.52 lower at $254.47 and March was down $2.80 at $254.57.

Cash cattle country had some light trade reported in Nebraska and Kansas on Thursday afternoon. Dressed deals were at mostly $305, $2 higher than last week. Live business was marked at $191, steady on the week. Asking prices remain firm around $193 to $195 in the South and around $307-plus in the North.

At the Hub City Livestock Auction in South Dakota, steer calves 450 to 500 pounds were $8 to $10 lower with heavier weights steady to $10 higher. The best test on heifer calves was at 500 to 599 pounds, mostly steady with some instances up to $5 higher. USDA says there was very good demand for both yearlings and calves. Feeder supply included 59% steers and 47% of the offering was over 600 pounds. Medium and Large 1 feeder steers 611 to 644 pounds brought $298.50 to $317. Medium and Large 1 feeder heifers 510 to 548 pounds sold for $308 to $335.

Boxed beef was mixed at the close. Choice was up $5.85 at $320.60 and Select was down $1.44 at $284.11. The Choice/Select spread was $36.58.

Estimated cattle slaughter was 121,000 head – down 4,000 on the week and down more than 2,500 on the year.

Lean hog futures were mixed, mostly modestly lower, on spread trade and technical selling. February was down $.07 at $83.62 and April was $.27 lower at $88.62.