Barrows and gilts in the Iowa/Minnesota direct trade are 1.04 lower on a carcass basis at 72.08, the West is .81 lower at 72.16, and the East is .10 higher at 70.87.Missouri direct base carcass meat price is 1.00 to 2.00 higher from 65.00 to 67.00. Last week’s hog kill was estimated at 2.268 million head, down 2.6 percent compared to the same week last year. Hog slaughter has been below year earlier for each of the last nine weeks. Furthermore, the combination of reduced slaughter and lighter carcass weights has caused pork production to be down 6.9 percent so far in 2010.
The new cattle show lists should be steady to somewhat larger this week given the light trade volume totals last week and a certain number of of unsold cattle carried over. On the other hand, limited movement could also mean fairly short bought packers. Processing margins are narrowing and that could force packers to slow chain speed through the week in order to pry more money from retailers. Last week’s negotiated sales were confirmed at just 128,241 head, 40, 000 less than the previous week. Live sales in the South were mostly steady at 92.00 late on Friday. Live sales in the North were steady to 2.00 lower from 88.00 to 90.00, and dressed sales were mostly steady to 1.00 lower from 143.00 to 145.00. Choice boxed beef at midday is down .16 at 149.43, and select is .10 higher at 148.21.
Feeder cattle receipts at the Joplin regional Stockyards on Monday totaled 10,000 head. Compared to last week, feeder steers and heifers weighing less than 700 pounds are steady t0 2.00 lower, heavier weights were not tested early. Demand was moderate on a heavy supply. Feeder steers medium and large 1 weighing 500 to 600 pounds brought 100.00 to 123.00 per hundredweight. 5 to 6 weight heifers at Joplin traded from 94.00 top 109.00.
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