Missouri Weekly Direct Slaughter Cattle

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Jefferson City, MO    Fri Feb 17, 2017     Mo Dept of Ag-USDA Market News

Missouri Weekly Direct Slaughter Cattle (week end 02-17-2017)

Confirmed Sales:
  Week to date:  240    Last Week:  280    Last Year:  160
( These prices acquired from Missouri producers )

   Trading from last Friday through Friday morning of this week remains light
as bids are lower with dressed grid sales 2.00-4.00 lower in Missouri this
week. Tuesday’s rally in the cattle futures had raised hopes of a steady to
higher trade this week, but Wednesday’s Fed Cattle Exchange auction saw prices
a bit lower topping at 119.25 leaving some doubts for a higher market.  Fed
cattle prices seem to have put enough on for now as packers are trying to
regain their margins back.  Fed cattle futures are also looking like the buy 
side has filled up as overhead resistance remains.  Cattle futures have also
built a lot of bearishness going into the summer and fall months.  Retail beef
features need to keep providing retailers with plenty of options to feature
beef to consumers’ needs and shopping carts.  Cattle prices and futures are
offering end users and consumers the opportunity to feature and buy more beef. 
The supply chain is moving more beef through its channels for retailers and
export locations with welcome responses.  The unknowns are what keeps everyone
on the nervous side, as how much if any upside does this market hold going into
spring.  Spring demand will be a factor as will the need to keep cattle pulled 
forward as bigger numbers are coming down the road.  Boxed-beef prices this
week held together as on Thursday Choice closed .88 cents higher at 189.22 and
Select 1.04 cents higher at 188.19 with just a 1.03 cents spread; compared to
last Friday’s close of Choice at 187.63 and Select at 185.65.

Live Sales: NO Sales
Slaughter steers and heifers: (90 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: (60-80 percent Choice)  1 load Flat 186.00     

(Grid) Grade and Weight Carcass: (over 80 percent Choice)  3 loads 188.00, 2 
loads 192.00.              

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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