Missouri Weekly Direct Slaughter Cattle

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Jefferson City, MO    Fri Jul 22, 2016     Mo Dept of Ag-USDA Market News

Missouri Weekly Direct Slaughter Cattle (week end 07-15-2016)

Confirmed Sales:
  Week to date:  120    Last Week:  320    Last Year:  120

( These prices acquired from Missouri producers )

   Trading from late last Friday through Friday morning of this week, remains 
light as bids have trended lower with producers passing most bids.  A bearish 
seasonal time for the beef industry is the month of July.  Confidence in the 
beef market is proving to be very challenging as there seems to be more down 
days in the Live Cattle futures and cash trade than up days.  There have been a 
number of positive fundamentals already been discussed with cheaper retail cuts,
better consumer demand, better exports, less imports and lighter carcass 
weights.  Yet, cattle markets are possessed by a bearish attitude it cannot 
shake.  Packers have remained very aggressive to procure inventory with heavy 
kill schedules as the month of June averaged 602K per week.  Last week’s total 
slaughter was revised to 598K with expectations for the same this week.  The 
bottom line on beef supply is that there is plenty of beef to be had or to go 
around and the packer keeps securing it at lower prices.  Looking at all the 
meats, we continue to have ample supplies of pork, poultry and beef.  Intense 
summer heat and ideas of more dog days of summer ahead are not helping boxed-
beef sales as we are at the wrong time of the year for cut-outs to gain 
traction.  Corn futures have also had a rough week as the corn crop is at 75
percent rated good to excellent and is in very good shape going into the summer.
Choice boxed-beef closed .61 cents lower on Thursday at 200.70 with Select down
1.19 at 189.82 compared to last Friday’s close with Choice at 204.71 and Select
at 192.38.  Friday afternoon the Cattle on Feed Report will be released.   


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 late last 
Friday 190.00.  

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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