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July 8, 2016 CapitalPress.com 13 Farm Market Report Hay Market Reports Potato Market Reports Compiled by USDA Market News Service • St. Joseph, Mo.-Portland Hay prices are dollars per ton or dollars per bale when sold to re- tail outlets. Basis is current delivery FOB barn or stack, or delivered customer as indicated. Grade guidelines used in this report have the following relation- ship to Relative Feed Value (RFV), Acid Detergent Fiber (ADF), TDN (Total Digestible Nutrients), or Crude Protein (CP) test num- bers: Grade RFV ADF TDN CP Supreme 185+ <27 55.9+ 22+ Premium 170-185 27-29 54.5-55.9 20-22 Good 150-170 29-32 52.5-54.5 18-20 Fair 130-150 32-35 50.5-52.5 16-18 Utility <130 36+ <50.5 <16 WASHINGTON-OREGON HAY (Columbia Basin) (USDA Market News) Moses Lake, Wash. July 1 This week FOB Last week Last year 10,500 17,800 12,275 Compared to June 24: All grades of export and domestic Alfalfa steady. Trade slow to moderate this week as parts of the southern basin are on third cutting. Demand good for export quality and small square bale dairy and export Timothy hay. Retail/Feedstore steady in a light test. Demand remains good. Tons Price Alfalfa Mid Square Good/Prem. 1000 $135 2000 $110 Good 500 $135 Fair/Good 500 $105 Utility/Fair 1000 $80 Alfalfa Small Square Premium 200 $220-250 Good/Prem. 500 $160 Utility/Fair 200 $85 Orchard Grass Small Square Premium 100 $230 Timothy Grass Mid Square Premium 4500 $180-200 OREGON AREA HAY (USDA Market News) Portland, Ore. July 1 This week FOB Last week Last year 3,957 932 912 Compared to June 24: Hay demand was relatively steady while displaying some irmness in the Klamath Basin region. There was substantially more hay sold this week as hay producers are starting to inish irst cuttings but a majority are right in the thick of their hay production. Tons Tons Price CROOK, DESCHUTES, JEFFERSON, WASCO COUNTIES Alfalfa Small Square Good/Prem. 25 $195 Orchard Grass Small Square Premium 30 $240 Good/Prem. 50 $210 EASTERN OREGON Alfalfa/Orchard Mix Small Square Premium 10 $165 Orchard Grass Small Square Premium 12 $165 HARNEY COUNTY Alfalfa Mid Square Premium 700 $140 1000 $170 KLAMATH BASIN Alfalfa Mid Square Supreme 1500 $170-175 Premium 250 $170-185 Utility 150 $95 Utility/Fair 100 $100 LAKE COUNTY Alfalfa Small Square Supreme 30 $200 Orchard Grass Small Square Premium 100 $225 IDAHO HAY (USDA Market News) Moses Lake, Wash. July 1 This week FOB Last week Last year 5,500 6,000 5,000 Compared to June 24: All grades of Alfalfa weak. Trade slow to moderate with light to moderate demand. Retail/feed store/horse not tested this week. Tons Price Alfalfa Mid Square Supreme 1200 $155 Premium 700 $137.50 Fair/Good 3600 $70-80 CALIFORNIA HAY (USDA Market News) Moses Lake, Wash. July 1 This week FOB Last week Last year 13,460 25,533 18,891 Compared to June 24: All classes traded steady with a irmer undertone for test hay. Demand moderate. According to the U.S. Drought Monitor, due the onset of the West’s “dry season,” chang- es to the region’s drought depiction during the summer months are usually minor, if any. Price of milk and strength of the dollar are impacting prices. Price REGION 1: NORTHERN INTERMOUNTAIN Includes the counties of Siskiyou, Modoc, Shasta, Lassen, and Plumas. Alfalfa Supreme 75 $170 75 $320 Prem./Sup. 175 $160 100 $310 REGION 2: SACRAMENTO VALLEY Includes the counties of Tehama, Glenn, Butte, Colusa, Sutter, Yuba, Sierra, Nevada, Placer, Yolo, El Dorado, Solano, Sacramento. Alfalfa Premium 75 $180 Good 175 $128 Fair/Good 700 $115 Orchard Grass Premium 75 $170 Rice Straw Good 200 $75 REGION 3: NORTHERN SAN JOAQUIN VALLEY Includes the counties of San Joaquin, Calaveras, Stanislaus, Tu- olumne, Mono, Merced and Mariposa. Alfalfa Prem./Sup. 175 $220 Premium 600 $170 830 $220-225 Good 250 $130 Fair/Good 1450 $80-100 375 $125 Fair 50 $100 50 $125 Oat Good 300 $63 Forage Mix-Three Way Good 1000 $65 Wheat Straw Good 500 $55 REGION 4: CENTRAL SAN JOAQUIN VALLEY Includes the counties of Madera, Fresno, Kings, Tulare, and Inyo. Alfalfa Fair/Good 750 $110 REGION 5: SOUTHERN CALIFORNIA Includes the counties of Kern, Northeast Los Angeles, and West- ern San Bernardino. Alfalfa Premium 200 $200 Forage Mix-Three Way Good 50 $170 Wheat Straw Good 205 $70-75 REGION 6: SOUTHEAST CALIFORNIA Includes the counties of Eastern San Bernardino, Riverside, and Imperial. Alfalfa Good/Prem. 400 $140 Good 3400 $140-150 Fair/Good 1175 $125-135 Bermuda Grass Premium 50 $180 Grain Market Reports Compiled by USDA Market News Service • Portland Grains are stated in dollars per bushel or hundredweight (cwt.) except feed grains traded in dollars per ton. National grain report bids are for rail delivery unless truck indicated. PORTLAND GRAIN (USDA Market News) Portland June 30 PACIFIC NORTHWEST MARKET SUMMARY Cash wheat bids for June delivery ended the reporting week on Thursday June 30, were lower compared to June 23 noon bids. September wheat futures ended the reporting week on Thursday, June 30, lower as follows compared to the previous week’s closes: Chicago wheat futures were 20.25 cents lower at $4.4550, Kansas City wheat futures were 23 cents lower at $4.2250 and Minneapolis wheat futures trended 22.75 cents lower at $5.0825. Chicago September corn futures trended 27 cents lower at $3.6550 and August soybean futures closed 50.75 cents higher at $11.7425. Bids for U.S. 1 Soft White Wheat delivered to Portland in unit trains or barges during June for ordinary protein were not available as most exporters were not issuing bids for nearby delivery. There were no white club wheat premiums for this week. One year ago bids for U.S. 1 Soft White Wheat any protein for July delivery by unit trains and barges to Portland were not available and bids for White Club Wheat were also not available. Forward month bids for soft white wheat ordinary protein were as follows: July $4.9050-5.20, August New Crop $4.9550-5.20, Sep- tember $4.9550-5.25, October $5.1550-5.34. One year ago, forward month bids for soft white wheat for any protein were as follows: August New Crop and September $6.45- 7.1575, October and November $6.45-7.17. Bids for U.S. 1 Soft White Wheat guaranteed maximum 10.5 per- cent protein during June were not available as most exporters were not issuing bids for nearby delivery. There were no white club wheat premiums for guaranteed maximum 10.5 percent protein soft white wheat this week or last week. One year ago bids for U.S. 1 Soft White Wheat any protein for July delivery by unit trains and barges to Portland were $7.3075-7.51 and bids for White Club Wheat were also $7.3075-7.51. Forward month bids for soft white wheat guaranteed 10.5 per- cent proteins were as follows: July $5.50-5.20, August New Crop $5.1250-5.20, September $5.0550-5.25, and October $5.1950- 5.3050. One year ago, forward month bids for soft white wheat for any pro- tein were as follows: August New Crop $7.3575-7.6075, September $7.3575-7.7075, October and November $7.37-7.77. Bids for 11.5 percent protein U.S. 1 Hard Red Winter Wheat for June delivery were 23.25 cents per bushel lower compared to the previous week’s noon bids for June delivery. Some exporters were not issuing bids for nearby delivery. Bids were as follows: June $4.8450-4.9750, July $4.7450-4.9750, August New Crop $4.8250- 4.9750, September $4.9250-5.0250, and October $5.0775-5.1775. Bids for non-guaranteed 14.0 percent protein U.S. 1 Dark North- ern Spring Wheat for Portland delivery during June were 13.25 to 26.25 cents per bushel lower than June 23 noon bids for the same delivery period. Some exporters were not issuing bids for nearby delivery. Bids for non-guaranteed 14 percent protein were as fol- lows: June $5.9825-6.0525, July $5.8825-625, August New Crop $5.8825-5.9825, September $5.9325-6.0325 and October $6.1375- 6.2875. COARSE FEEDING GRAINS Bids for U.S. 2 Yellow Corn delivered full coast Paciic North- west - BN shuttle trains for June delivery were 18.75 cents lower from $4.5750-4.6250 per bushel. Forward month corn bids were as follows: July $4.5750-4.6350, August $4.5950-4.6450, September $4.5850-4.6450, October-November $4.5825-4.6125 and Decem- ber $4.6125-4.6225. Bids for U.S. 1 Yellow Soybeans delivered full coast Paciic Northwest - BN shuttle trains for June delivery were 59.75 to 61.75 cents higher from $12.6425-12.6425 per bushel. Forward month soybean bids were as follows: July $12.6225- 12.6425, August $12.6225-12.6425, September $12.6325-12.6625, October-November $12.6325-12.6825 and December $12.5625- 12.6025. Bids for U.S. 2 Heavy White Oats for June delivery trended 87 cents per bushel lower at $3.0475 per bushel. PACIFIC NORTHWEST EXPORT NEWS There were 12 grain vessels in Columbia River ports on Thurs- day, June 30, with four docked compared to 12 last week with four docked. There were no new conirmed export sales this week from the Commodity Credit Corporation of the USDA. CALIFORNIA GRAINS (USDA Market News) Portland June 30 Prices in dollars per cwt., bulk Inc.= including; Nom.= nominal; Ltd.= limited; Ind.= indicated; NYE=Not fully estimated. GRAIN DELIVERED Mode Destination Price per cwt. BARLEY – U.S. No. 2 (46-lbs. per bushel) FOB Kern County NA Rail Los Angeles NA Truck Petaluma-Santa Rosa NA Stockton-Modesto-Oakdale-Turlock NA CORN-U.S. No. 2 Yellow FOB Turlock-Tulare $8.28 Stockton-Modesto-Oakdale-Turlock NA Kings-Tulare-Fresno NA Rail Single Car Units via BNSF Chino Valley-Los Angeles $8.56 Truck Petaluma-Santa Rosa NA Stockton-Modesto-Oakdale-Turlock $8.58 Kings-Tulare-Fresno Counties $8.58 SORGHUM-U.S. No. 2 Yellow Rail Los Angeles-Chino Valley via BNSF Single $8.72 Truck Modesto-Oakdale-Turlock NA OATS-U.S. No. 1 White Truck Petaluma NA Rail Petaluma NA WHEAT-U.S. No. 2 or better-Hard Red Winter (Domestic Values for Flour Milling) Truck/Rail Los Angeles 11-12 percent Protein Los Angeles 12 percent Protein NA FOB Tulare-Kern-Merced $8.35-8.60 WHEAT-U.S. Durum Wheat Truck Imperial County $10 Kings-Tulare-Fresno Counties NA WHEAT-Any Class for Feed FOB Tulare NA Kings-Tulare-Fresno Counties $8.35-8.50 Kern County $8 Truck/Rail Los Angeles-Chino Valley NA Truck Petaluma-Santa Rosa NA Stockton-Modesto-Oakdale-Turlock NA King-Tulare-Fresno Counties NA Kern County NA Prices paid to California farmers, seven-day reporting period ending June 30: WHEAT, U.S. No. 1, Hard Amber Durum for Flour Milling Imperial Valley $10 Spot Del Locally Compiled by North American Potato Market News and USDA Agricultural Market Service Prices are weekly averages of daily prices. All prices are in dollars per hundredweight (cwt.). FWA is a weighted average of shipping point prices or common packs in each area. Weights differ by area. GRI is the Grower Returns Index for each individual area. FRESH RUSSET POTATO MARKET REPORT (North American Potato Market News) (USDA Market News) July 2 Market commentary: Downward pressure on Russet Count Cartons continues, with less than a month before the 2016 Columbia Basin harvest gets under way. SHIPPING AREA FWA Chg GRI Chg 70 ct Chg 10 lb. Film Chg IDAHO BURBANKS $12.41 -$0.67 $5.27 -$0.40 $20 -$2 $7.50 $0 COLUMBIA BASIN $15.45 -$0.60 $7.18 -$0.37 $23 -$2 $9 -$0.50 Sheep/Wool Market Reports Compiled by USDA Market News Service • Greeley, Colo.-San Angelo, Texas Wool prices in cents per pound and foreign currency per kilogram, sheep prices in dollars per hundredweight (cwt.) except some replacement animals on per head basis as indicated. NATIONAL WOOL REVIEW (USDA Market News) Greeley, Colo. July 1 Domestic wool trading on a clean basis has been at a standstill this week. No conirmed trades reported this week. Most of the shearing has now been completed and a majority of the warehouses are starting to go to a cleanup mode. There are still some trades that will be taking place as the season will start to wind down and head into the typical offseason. Domestic wool trading on a greasy basis was at a standstill this week. There were no conirmed trades reported. Domestic wool tags No. 1 $.60-.70 No. 2 $.50-.60 No. 3 $.40-.50 NATIONAL SHEEP SUMMARY (USDA Market News) San Angelo, Texas July 1 Compared to last week slaughter lambs were very uneven. Lambs at San Angelo, Texas, and heavy lambs at Sioux Falls, S.D., and New Hol- land, Pa., were $5-10 higher. Light lambs at New Holland and Ft. Collins, Colo., were steady to $10 lower. Slaughter ewes were mostly steady to $10 higher. Feeder lambs were weak to sharply lower, except at Sioux Falls $8-10 higher. At San Angelo, Texas, 5,165 head sold. No sales in Equity Electronic Auction. In direct trad- ing slaughter ewes were not tested and feeder lambs were irm. 3,500 head of negotiated sales of slaughter lambs were steady to $3 higher. 6,700 head of formula sales had no trend due to conidentiality. 4,402 lamb carcasses sold with 65 lbs. and down no trend due to conidentiality; 65- 85 lbs. $5.50-7.54 higher and 85 lbs. and up no trend due to conidentiality. SLAUGHTER LAMBS Choice and Prime 2-3: San Angelo: Shorn and wooled 110-155 lbs. $132-144. SLAUGHTER LAMBS Choice and Prime 1: San Angelo: 40-60 lbs. $210-236; 60-70 lbs. $175-200, few $202-214; 70-80 lbs. $160-182, few 186-200; 80-90 lbs. $150-172, few $178-180; 90-110 lbs. $150-160. DIRECT TRADING (Lambs with 3-4 percent shrink or equivalent): 3,500 Slaughter Lambs shorn and wooled 80- 168 lbs. $135-172.01 (wtd avg $158.51). Idaho: 9,000 Feeder Lambs 130-140 lbs. $175. SLAUGHTER EWES: San Angelo: Good 2-3 (leshy) $55-59.50; Util- ity and Good 1-3 (medium lesh) $63-70; Utility 1-2 (thin) $55-65; Cull and Utility 1-2 (very thin) $40-50; Cull 1 (extremely thin) $30-40. FEEDER LAMBS Medium and Large 1-2: San Angelo: 50-60 lbs. $202-206; 60-70 lbs. $180-190; 70-90 lbs. $180-185; 90-100 lbs. $172- 184; 114 lbs. $164. REPLACEMENT EWES Medium and Large 1-2: San Angelo: hair ewe lambs 60-90 lbs. $194- 220 cwt; mixed age hair ewes 90-150 lbs. $90- 130 cwt. NATIONAL WEEKLY LAMB CARCASS Choice and Prime 1-4: Weight Wtd. avg. 45 lbs. Down Price not reported due to conidentiality 45-55 lbs. Price not reported due to conidentiality 55-65 lbs. Price not reported due to conidentiality 65-75 lbs. $310.16 75-85 lbs. $298.73 85 lbs. and up Price not reported due to conidentiality Sheep and lamb slaughter under federal in- spection for the week to date totaled 39,000 com- pared with 37,000 last week and 35,000 last year. California Egg Reports Compiled by USDA Market News Service • Des Moines Shell egg marketer’s benchmark price for negotiated egg sales of USDA Grade AA and Grade AA in cartons, cents per dozen. This price does not relect discounts or other contract terms. DAILY CALIFORNIA SHELL EGGS (USDA Market News) Des Moines, Iowa July 1 Benchmark prices are steady. Asking prices for next week are 2 cents higher for Jumbo, 5 cents higher for Extra Large, 4 cents higher for Large and unchanged for Medium and Small. The undertone is steady. Offerings are light for Jumbo and moderate on all other sizes. Retail demand is moderate to instances fairly good with food service movement light to moderate. Supplies are light for Jumbo and moderate on the balance of sizes. Market activity is slow. Small benchmark price 80 cents. Size Range Size Range Jumbo 159 Extra large 137 Large 126 Medium 100 SOUTHERN CALIFORNIA Prices to retailers, sales to volume buyers, USDA Grade AA and Grade AA, white eggs in cartons, delivered store door. Size Range Size Range Jumbo 111-122 Extra large 63-74 Large 457-66 Medium 38-47 Livestock Auctions Cattle prices in dollars per hundredweight (cwt.) except some replacement animals per pair or head as indicated. Washington TOPPENISH (Toppenish Livestock Auction) (USDA Market News) Moses Lake, Wash. July 1 This week Last week Last year 1,000 1,360 1,200 Compared to June 24 at same market: Not enough stocker or feeder cattle for accurate market trends as most strings sold June 28. Trade active with good demand. Slaughter cows irm to $1 higher. Slaughter bulls weak. Trade active with good demand. Slaughter cows 80 percent, slaughter bulls 10 percent, and feeders 10 percent of the supply. The feeder supply in- cluded 33 percent steers and 67 percent heifers. Near 56 percent of the run weighed over 600 lbs. Feeder Steers: Medium and Large 1-2: 800- 900 lbs. $118. Large 1: 900-1000 lbs. $119. Feeder Holstein Steers: Large 2-3: 500-600 lbs. $100; 1400-1500 lbs. $100. Feeder Heifers: Medium and Large 1-2: 500- 600 lbs. $125. Medium and Large 2-3: 500-600 lbs. $95. Large 2-3: 900-1000 lbs. $90, Heifer- ettes; 1200-1300 lbs. 87.50. Slaughter Cows: Boning 80-85 percent lean 1200-1900 lbs. $71-76; Lean 85-90 percent lean 1200-1800 lbs. $74-79; Lean Light 90 percent lean 900-1250 lbs. $64-69. Slaughter Bulls: Yield Grade 1-2 1700-2200 lbs. $89-95. Feeder Cows: Medium and Large 1-2: 1099 lbs. $87, Young. Oregon MADRAS (Central Oregon Livestock Auction) June 27 Total head count: 430. Baby calves: NA. Steers: 300-400 lbs. $150-165; 400-500 lbs. $150-160; 500-600 lbs. $145-155; 600-700 lbs. $140-150; 700-800 lbs. $137-143; 800-900 lbs. $125-136. Bulls: High yield. $96-101; Mostly $95; Thin- ner $90-95. Bred cows: NA. Paris: NA. Heifers: 300-400 lbs. $145-155; 400-500 lbs. $145-155; 500-600 lbs. $135-145; 600-700 lbs. $127-135; 700-800 lbs. $123-130. Heiferettes: 850-1000 lbs. $115-123. Cows: Heiferettes $105-115; Fleshy cows $78; high-yield $75; medium-yield $73; low-yield $68. VALE (Producers Livestock Market) June 29 Total receipts: 320 head. Comments: Not enough feeder cattle to truly test the market; butcher cow market steady to $2 higher. Steer calves: 300-400 lbs. $129-154; 400-500 lbs. $142 – 159; 500-600 lbs. $137-157. Heifer calves: 500-600 lbs. $127-136. Yearling steers: 600-700 lbs. $134-143; 700- 800 lbs. $1125-132; 800-900 lbs. $123-131. Yearling heifers: 600-700 lbs. $122-131. CALDWELL (Treasure Valley Livestock) June 24 Steers (wt.): 300-400 lbs. $86.25; 400-500 lbs. $87.25; 500-600 lbs. $73.50; 600-700 lbs. $74.75; 700-800 lbs. $89.75; 800 lbs. and up $82.50. Steers (hd.): 100-200 lbs. $150; 300-400 lbs. $210; 400-500 lbs. $190. Heifers (wt.): 500-600 lbs. $76; 600-700 lbs. $64; 700-800 lbs. $70; 800-900 lbs. $87; 900- 1000 lbs. $91.50; 1100-1200 lbs. $72. Heifers (hd.): 100-200 lbs. $91; 300-400 lbs. $170; 400-500 lbs. $155. Bull Calf (wt.): 400-500 lbs. $62.50; 500-600 lbs. $60. Bull Calf (hd.): 300-400 lbs. $250. Cows (wt.): 900-1000 lbs. $58; 1000-1100 lbs. $70.50; 1200-1300 lbs. $73.75; 1400-1500 lbs. $72.25; 1500-1600 lbs. $68.25; 1600-1700 lbs. $77.50; 1700-1800 lbs. $78; 1900-2000 lbs. $75.50. Heiferettes (wt.): 1000-1100 lbs. $89.50; 1100-1200 lbs. $90.50; 1200-1300 lbs. $84.75; 1400-1500 lbs. $92.25. Holstein Bulls (wt.): 1500 lbs. and up $93.50. utation Sandhill steers weighing 775 lbs. sold for $167.25 and in Aberdeen, S.D., at Hub City Livestock 2 loads of 919 lb. steers rang the bell at $143.75. Optimism abounds. A year ago, the state of Missouri weighted aver- age for 650 to 700 lb. Medium and Large 1 steers was $250.78 per cwt; $102.53 per cwt higher than this week’s price level or near $700 per head. Last week’s Cattle on Feed Report was a non event this week as all major points of interest were all reported very close to industry expecta- tions and all major packers were active and paid up. Live sales traded from $122 to $123 in the 5 Area while dressed sales sold from $195-200; $5 to $6 higher live and $9 to $10 higher dressed than the previous week. Packers have been willing to run plants at op- timum levels in recent months as margins have been running at record wide levels. They have not shown any signs of slowing the chain speed even with Choice boxed beef losing more than $5 this week. After the hiccup in price levels, feedyard managers came to the table ready to sell and traded near 110,000 head on June 30 in the 5 Area; the eighth largest weekly trading volume in the last 2 1/2 years. Beef in Cold Storage at the end of May was estimated at 446.7 million pounds, 5.9 percent lower than a year ago and pork inventories were at 612.7 million pounds, 6.5 percent lower than a year ago. Total chicken inventories have been considered burdensome by analysts for this time of year and reported at 803.2 million pounds, 8.6 percent higher than a year ago. After the $3 trillion global market fallout from the Brexit last week, the Dow Jones Average has re- covered to rise by nearly 800 points from June 28 to June 30 this week; marking the largest three- day point gain since February. Auction volume this week included 57 percent weighing over 600 lbs. and 38 percent heifers. AUCTIONS This week Last week Last year 116,900 126,900 67,000 WASHINGTON 1,900. 81 pct over 600 lbs. 39 pct heifers. Steers: Medium and Large 1-2 500-550 lbs. $151.30; 550-600 lbs. $152.19; 650-700 lbs. $149.46; 700-750 lbs. $137.37; 750-800 lbs. $138.60; 800-850 lbs. $136.81; 850-900 lbs. $136.67. Heifers: Medium and Large 1-2 400-450 lbs. $152.18; 450-500 lbs. $150.73; 600-650 lbs. $130.70; 650-700 lbs. $130.54; 700-750 lbs. $130.28; 750-800 lbs. $129.88; 800-850 lbs. $128.80. DIRECT This week Last week Last year 51,700 32,400 28,600 SOUTHWEST (Arizona-California-Nevada) 400. 100 pct over 600 lbs. 50 pct heifers. Steers: Medium and Large 1 Current FOB Price 850-900 lbs. $131 Oregon; 900-950 lbs. $130 Oregon. Heifers: Large 1-2 Future Current FOB Price 850- 900 lbs. $124-125 Oregon. Light Holstein steers, 600 lbs. and under: NA. Light Holstein steers, 700 lbs. and over: NA. Stock cows (young): NA. Stock cows (B.M.): $1000-1250. Pairs, young: NA. Butcher cows: $76-83.50. Thin shelly cows: $56-69. Butcher bulls: $83-92. Idaho Cattle Market Reports Compiled by USDA Market News Service • Oklahoma City-Des Moines-St. Joseph, Mo.-Moses Lake, Wash. Cattle prices in dollars per hundredweight (cwt.) except some replacement animals per pair or head as indicated. NATIONAL SLAUGHTER CATTLE (USDA Market News) Oklahoma City, Okla. July 1 Slaughter cattle sold on a live basis in Texas and Kansas mostly $4-7 higher and dressed sales in Nebraska traded mostly $10-12 higher. Boxed Beef prices July 1 averaged $201.12 down $4.73 from June 24. The Choice/Select spread is 15.08. Slaughter cattle on a national basis for negotiated cash trades through July 1 totaled about 124,682 head. The previous week’s total head count was 55,010 head. Midwest Direct Markets: Live Basis: Steers and Heifers: $120-125.50. Dressed Basis: Steers and Heifers $196-200. South Plains Direct Markets: Live Basis: Steers and Heifers $120-124. Slaughter Cows and Bulls (Average Yielding Prices): Slaughter cows and bulls mostly steady to $3 higher. Cutter Cow Carcass Cut-Out Value July 1 at noon was $172.15 down $1.26 from June 24. NORTHWEST DIRECT CATTLE (USDA Market News) Moses Lake, Wash. July 1 This week Last week Last year 400 3,050 850 Compared to June 24: Feeder cattle steady in a light test. Trade slow this week as video and special feeder cattle sales in local sale barns accounted for most of the trade. Demand good as both futures and live cattle markets showed strength. The feeder supply included 50 percent steers and 50 percent heifers. Near 100 percent of the supply weighed over 600 lbs. Prices are FOB weighing point with a 1-4 percent shrink or equivalent and with a 5-12 cent slide on calves and a 3-8 cent slide on yearlings. Current sales are up to 14 days delivery. Steers: Medium and Large 1: Current FOB Price: 850-900 lbs. $131 Oregon; 900- 950 lbs. $130 Oregon. Heifers: Large 1-2: Future Current FOB Price: 850-900 lbs. $124-125 Oregon. NATIONAL FEEDER AND STOCKER CATTLE (Federal-State Market News) St. Joseph, Mo. July 1 This week Last week Last year 270,000 160,700 127,900 Compared to June 24: Steers and heifers sold mostly $2 to $7 higher with some spots being $8 to $10 higher. A nice bounce in the cattle complex this week got feeder cattle buyers back in the saddle again as analysts and feedyard operators believed that the futures markets appeared to be oversold and needed a correction. On June 29 in Bassett, Neb., 2 loads of rep- Hershey rejects kiss from chocolate competitor By CANDICE CHOI AP Food Industry Writer NEW YORK (AP) — Her- shey says it rejected a takeover offer from Oreo maker Mon- delez that would bring some of the world’s best known cook- ies and chocolates under one company. The company conirmed it received a preliminary offer from Mondelez for a mix of cash and stock totaling $107 for each share of Hershey common stock. That would value the deal at roughly $22.3 billion, according to FactSet. Following a review, Her- shey said Thursday that its board determined the offer provided “no basis for further discussion.” Any deal would be subject to the approval by the Hershey Trust, a con- trolling shareholder. The Wall Street Journal, citing sources it did not name, had reported earlier in the day that Mondelez told Hershey it would take the chocolate maker’s name and move its global headquarters to Her- shey, Pennsylvania. Hershey’s shares surged following the report, and closed up nearly 17 percent at $113.49. A spokeswoman for Mon- delez, Valerie Moens, did not respond to a request for com- ment about Hershey’s rejec- tion of the offer. In addition to Oreos, Mon- delez International Inc., based in Deerield, Illinois, owns Cadbury chocolates, Trident gum, Nabisco cookies and Ritz crackers. The acquisition of Hershey would give the combined com- pany 18 percent of the global candy market and make it the industry’s largest player, ac- cording to Euromonitor In- ternational. Mars Inc., which makes M&M’s and Snickers, is currently No. 1 with 13.5 percent of the market. The deal would also give Mondelez a bigger presence in the domestic candy market. While Mondelez controls Cad- bury overseas, Hershey has the licensing rights to the brand in the U.S. Mondelez gets the majority of its revenue from overseas, while Hershey gets most its revenue from North America. RBC Capital Markets ana- lyst David Palmer said he did not think the deal would ulti- mately happen, since control of the Hershey company is part of the Hershey Trust’s mission statement. But he said the offer by Mondelez could spur more aggressive cost-cutting at Her- shey. J.P. Morgan analyst Ken Goldman said that at least part of Mondelez’s rationale for making the bid was probably “defensive in nature,” as the company did not want to be acquired by The Kraft Heinz Co., if Kraft is interested. While the Hershey Trust has rejected overtures in the past, Goldman noted that its board members have recently found themselves in hot water. Earlier this year, the Philadel- phia Inquirer reported that the state attorney general sent the trust a letter seeking the res- ignation of three board mem- bers and the reduction of board compensation. The letter said the compensation exceeded the trust’s own rules. An email and phone call to the Hershey Trust were not re- turned Thursday. A tie-up between Monde- lez and Hershey would have marked just the latest chap- ter in a series of deals in the packaged food industry, with companies looking for ways to improve their inancial results while up against struggling sales growth in major markets such as the U.S.