Midday cash livestock prices

Barrows and gilts in the Iowa/Minnesota direct trade opened 3.18 higher at 55.52 on a carcass basis, the West was up 2.74 at 55.46, and the East is down .17 at 50.89. Missouri direct base carcass meat price is steady to 1.00 higher from 47 to 50. Pork processing margins appear to be improving further at midweek thanks to both lower hog costs and higher carcass value. Buyers should have plenty of incentive through the balance of the week. Saturday’s kill plans now look close to 165,000 head.

Cattle buying interest could start to improve at midweek with packers slowly moving to asking prices of 89 to 90 in the South and 137 + in the North. On the other hand DTN says if the beef trade remains soft and sluggish, buyers may decide to wait as long as possible before covering minimum slaughter needs. Choice beef is down .38 at 141.47 at midday, select cuts are .52 lower at 135.94.

Feeder cattle receipts at the Philip Livestock Auction, Philip, SD totaled 5370 head on Tuesday. Compared to last week steer and heifer calves were mostly steady; a firmer undertone was noted on cattle weighing between 500 and 600 pounds. Heifer calves sold 1.00 to 2.00 higher, instances of 3.00 higher on cattle less than 500 pounds. Yearling feeder steers were too lightly tested to trend. Yearling feeder heifers sold mostly 1.00 higher, instances of 2.00 higher on increased offerings. Demand was good for all classes. Feeder steers medium and large 1, 970 head averaging 571 pounds traded at 104.51. 185 heifers weighing 578 pounds brought 92.69 per hundredweight.

For updated market information throughout the day tune to your local Brownfield affiliate radio station.