Futures markets and local feeder cattle auctions rallied on Tuesday - partly as a result of an announcement from Japan’s health minister who has asked the Food Safety Commission to review beef import rules imposed on Canada and the U.S. allowing beef imports of cattle that are 30 months or younger versus the current 20 months or younger. If approved this could mean even more exports added to already record amounts of US beef being sold worldwide. A pot load of Medium and Large 1 Steers sold on Tuesday at the United Producers Inc. Auction in Maryville averaging 958 lbs. for 135.10 per cwt. or an average of $1,294.25 per head.
Source: MO Dept of Ag-USDA Market News Service, Jefferson City, MO
Tony Hancock, Market Reporter, (573) 751-5618