Missouri Weekly Direct Slaughter Cattle

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Jefferson City, MO    Fri Mar 24, 2017     Mo Dept of Ag-USDA Market News

Missouri Weekly Direct Slaughter Cattle (week end 03-24-2017)

Confirmed Sales:
  Week to date: 0       Last week: 320       Last Year: 120
( These prices acquired from Missouri producers )

   Trading from last Friday through Friday morning of this week remains light
to inactive as bids are higher with most producers at this time very current in
Missouri this week.  The fat cattle market continues to show resilience as the
Fed Cattle Exchange on Wednesday again this week got the market rolling with
near 2200 head being sold with prices ranging from mostly 130.00-136.50 with a
weighted average price of 133.35. Fed cattle in the country did not trade after
Wednesday’s FCE auction as packers are playing it cool and expecting a large
kill this week of near 600K and waiting for Friday’s Cattle on Feed Report. On
Wednesday April Live Cattle futures surged to a 14 month high with aggressive
buying support. This market rally has been all about the power of demand as the
shortness of market ready fat cattle has the packer competing for procurement. 
Good consumer demand, strong export sales and lighter carcass weights have
shown the durability of this market.  The boxed-beef cut-out value has surged
for the past 4 weeks gaining near 35.00 on the choice cut-out; their remains
some nervousness about the sustainability of this rally. If the consumer starts
to see higher prices for beef will the consumer then moderate their buying? 
Choice boxed-beef on Thursday closed .73 cents lower at 222.28 with Select .03
cents lower at 215.77 compared to last Friday’s close with Choice at 223.43
and Select at 214.48.       

Live Sales: 
Slaughter steers and heifers: (over 80 percent Choice)  No Sales 

(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: (60-80 percent Choice)  NO Sales     

(Grid) Grade and Weight Carcass: (over 80 percent Choice)  No Sales 

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

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