Barrows and gilts in the Iowa/Minnesota direct trade opened .12 lower at 51.93 on a carcass basis, the West was down .41 at 51.91, and the East is .32 lower at 49.29. Missouri direct base carcass meat price is 1.00 to 3.00 higher from 45.00 to 49.00. Although the wholesale pork trade softened a bit on Friday, processors are starting out the week with decent margins and plenty of incentive to fund aggressive chain speed, according to DTN’s John Harrington. Much will depend upon the size of the weekend kill ahead. While that picture will stay sketchy for the next several days, the guess is it will be a good deal larger than last Saturday, barring a collapse in the carcass value.
Cattle feeders are hoping to build on the cash market’s bullish momentum. If producers manage to sell show lists higher again this week, they will market a solid month of improving revenue. While ready supplies are tightening, beef demand is still lackluster. Last week’s aggressive round of production will keep plenty on the street, and that could complicate the effort of meat salesmen to push the cutouts higher. Initial asking prices should be around $90.00 in the South and $138.00 to 140.00 in the North. Choice boxed beef at midday is up .27 at 141.10, select is up .16 at 135.54.
Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 5,000 head. Compared to last week, steers and heifer calves opened steady, yearlings traded steady in a light early test. Demand and supply was moderate. Feeder steers medium and large 1 weighing 500 to 600 pounds 91.00 to 100.00 per hundredweight, 5 to 6 weight heifers from 81.00 to 90.50.
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