Missouri Weekly Direct Slaughter Cattle

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Jefferson City, MO    Fri Oct 21, 2016     Mo Dept of Ag-USDA Market News

Missouri Weekly Direct Slaughter Cattle (week end 10-21-2016)

Confirmed Sales:
  Week to date:  120    Last Week:  240    Last Year:  200

( These prices acquired from Missouri producers )

   Trading from late last Friday through Friday morning of this week, remains
light with Dressed Grid prices steady at 158.00.  Prices this week could be
viewed as a victory, as there still remains plenty of cattle to go around for
slaughter needs.  CME cattle futures have whipsawed this week from good gains
last Friday and Monday to start the week, and then aggressive selling swept
through the cattle complex on Wednesday afternoon posting sharp triple-digit
losses.  Cattle futures then rebounded with sharp gains on Thursday as volatile
elastic moves continue.  The one thing about low prices is they have a way of
helping demand as beef prices at the meat counter have gone down, but very
slowly when compared to the debacle and calamity of the fed cattle market. It
just seems it takes months for the news to reach the retail counter.  What has
become the misfortune of the cattle feeder has become a “bed of roses” for the
packing industry. It has been just two short years ago that the cattle industry
was at a 60 year low for the US cowherd, two short years has brought about
great change.  Boxed-beef still remains under pressure and continues to lose
ground and flirting with 2012 lows.  Choice closed Thursday .55 cents lower
at 177.89 and Select 1.85 lower at 167.74 compared to last Friday’s close of
181.86 for Choice and 172.04 for Select.  

Live Sales: 
Slaughter steers and heifers: 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)  3 loads 158.00    

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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