Barrows and gilts in the Iowa/Minnesota direct traded are .40 higher at 69.49 on a carcass basis, the West is up.14 at 69.46, and the East is .29 higher at 68.91. The Missouri direct base carcass meat price is steady from 63.00 to 65.00. While cash hogs were mixed on Monday, trade volume was nothing to write home about. The guess is that buyers will need to try a bit harder today. Carcass value continues to appreciate and that is a friendly fit with ideas of tightening market hog numbers as we move into spring.
Tuesday’s are typically quiet in the cash cattle trade, but a strong basis certainly made a difference last week at this time. Maybe we will see more early bird activity of that variety today. Yet higher asking prices of 94.00 plus in the South and 147.00 to 148.00 in the North and uncertain beef demand may suggest a standoff that will last until the second half of the week. Choice boxed beef is up 1.32 at midday at151.66, and select is .23 higher at 149.73.
Oklahoma National Stockyards receipts on Monday totaled 11,958 head. Feeder steers closed steady to 1.00 lower. Feeder heifers were steady to 2.00 lower, stocker cattle and calves 1.00 to 4.00 hi9gher. Demand was moderate to good for feeder cattle, very good for stockers and calves. Quality was average. Weigh-ups were mostly average until late in the day when many showed full conditions. Feeder demand continues mostly good as cattle futures closed higher in response to lower corn futures on Monday. Feeder steers medium and large 1 600 to 700 pounds traded from 101.00 to 109.00, 650 to 7 weight heifers brought 94.50 to 98.50.
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