Jefferson City, MO    Fri Sep 23, 2016     Mo Dept of Ag-USDA Market News

Missouri Weekly Direct Slaughter Cattle (week end 09-23-2016)

Confirmed Sales:
  Week to date:  320    Last week:  0    Last Year:  120

( These prices acquired from Missouri producers )

   Trading from late last Friday through Friday morning of this week, remains 
light as bids trended higher then turned lower late Thursday.  Late last Friday
grid sales were at 170.00-172.00, then Thursday of this week 3.00-5.00 higher 
at 175.00 before the board closed lower.  Thursday’s sharp break in the live 
futures seemed to take a hunk out of feedlot leverage.  Last week’s slaughter 
cattle trade heated up and closed 5.00 higher with all the packers in the hunt 
to procure fed cattle.  How much higher cash can go remains to be unseen, but 
bear markets have to take a breather every now and then.  Caution should still 
remain in place which is very understandable and reasonable given this markets 
performance over the last year.  Packers still have large supplies of meat 
protein going forward and will maintain leverage.  Months of large kills have 
cleaned up front end supplies as every week goes by is another week exceeding 
expectations which does help to keep current in the feedlots.  With marketing’s
of slaughter cattle remaining very high, cattle feeders have felt little relief
in their pocket books but they have no incentive to feed increasing numbers of 
cattle.  Beef features do continue to be prominent in retail adds, but boxed-
beef needs to get a rally going after languishing for the last several weeks.  
Choice boxed-beef closed Thursday .20 cents higher at 187.37 with Select .16 
cents lower at 179.62 compared to last week’s close of Choice at 186.20 and 
Select at 178.38.  Cattle on Feed Report will be released this afternoon 
at 2:00 pm.     

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) late last Friday two 
loads 170.00-172.00, Thursday of this week six loads 175.00.    

  
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