Jefferson City, MO Fri April 03, 2020 MO Dept of Ag-USDA Market News
Missouri Weekly Direct Slaughter Cattle (week end 04-03-2020)
Week to date: 0 Last week: 760 Last Year: 160
These prices acquired from Missouri producers )
Trading from late last Friday through Friday morning of this week remains inactive
as producers finding bids hard to come by with packers quiet at this time. CME cattle
futures on Wednesday and Thursday pretty much got steam-rolled with limit losses
and then expanded limit moves down. A lot of drama is going on with fear of the unknown
with concerns in cattle futures and cash prices as headlines this week are very bearish with
health concerns, state shutdowns and reportedly some packing plants having labor issues.
Reportedly packing plants are seeing some cases of reduced labor force and slowing
production as packers will have to make allowances for workers during this time. Overall it
seems that production is going as well as can be expected with this week’s slaughter estimated
to be near 645,000. Wednesday live cattle prices in the Southern Plains traded mostly at 112.00,
6.00-8.00 lower and with dressed sales in Nebraska from 175.00 to mostly 180.00, 10.00-15.00
lower. Boxed-beef prices are declining in chunks, going down about as fast as they came up,
dropping a little over 20.00 on Choice product from last Friday’s close to this Thursday’s close.
With pipelines getting filled and panic buying pretty much calming down it appears that boxed-
beef will likely go back to levels it started from. This is causing concern for demand and product
becoming backed-up over the near future. Thursday Choice boxed-beef closed 2.53 lower at 232.64
with Select 3.01 lower at 222.12 with a Choice-Select spread of 10.52. Compared to last Friday’s close
had Choice at 252.84 and Select at 242.38. The hide and offal value from a typical slaughter steer
on Thursday was estimated at 8.08 per cwt live, up.16 cents when compared to Wednesday’s value.
Slaughter steers and heifers: (over 90 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: (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, Perry, MO
Greg Harrison, Market Reporter 573-751-5618
24 hour recorded report 573-522-9244