Barrows and gilts in the Iowa/Minnesota trade opened .26 lower at 63.56 on a carcass basis, the West was .41 lower at 63.45, and the East is down .22 at 59.46. Missouri direct base carcass meat price is 2.00 to 4.00 higher at 57.00 to 59.00. Hog buyers reportedly are starting out pretty close to the knife to start the week. Such a reality coupled with expanding carcass value points to another round of stronger country bids. Although some producers need to catch up in the wake of last week’s storm, we should be moving past peak seasonal supplies.
Buyer and sellers are busy taking inventory on the feedlot cattle. The trade last week was generally $2.00 to 3.00 lower, with Southern live cattle selling at 79.00 to 80.00, and Northern dressed business at 127.00 to 128.00. Early ideas of asking prices this week are 81.00 to 83.00 in the South, and 128.00 to 130.00 in the North.
Choice boxed beef is 1.70 higher at 138.25, and select is .92 higher at 130.62.
Feeder cattle receipts at the Joplin, MO Regional Stockyards are estimated at 7,000 head on Monday. Compared to last week, steer and heifer calves opened steady, feeder yearlings sold weak to 2.00l lower in the early go. Demand was called moderate and the supply was moderate to heavy. Feeder steers, medium and large 1 weighing 500 to 600 pounds traded at 93.50 per hundredweight. 5 to 6 weight heifers at Joplin brought 81.00 to 86.50.
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