Midday cash livestock markets

Barrows and gilts in the Iowa/Minnesota direct trade are down 1.93 at 71.90, the West is 1.13 lower at 72.19, and the East is .67 lower at 69.66. Interior Missouri direct base carcass meat price is steady from 65.00 to 67.00. The spread between carcass value and the weighted average carcass price is less than $2.00 implying the worst processing margins seen in the last month. Yet country numbers remain too tight for hog buyers to wrench any leverage away from the producers. Chain speed continues to be limited by fire damage at Logansport, Indiana.

A few bids on cattle were reported in Nebraska this morning at 143.00 on a dressed basis, feedlot operators are asking 150.00. No bids were reported in the South where they are asking around 94.00. We could see more preliminary bids throughout the day, but significant business may not happen until tomorrow or Friday. Choice boxed beef is up .06 at 149.57, and select was up .38 at 149.40.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, MO totaled 3631 head on Tuesday. Compared to last week, steers weighing less than 700 pounds were steady to 2.00 higher, over 700 lbs steady to weak. Heifers’ weighing less than 700 lbs 2.00 to 3.00 higher, over 700 lbs steady to 1.00 lower. Feeder steers medium and large 1 and 1-2 weighing 500 to 600 pounds traded from 104.00 to 125.00, 7 to 8 weights from 93.50 to 103.00. Feeder heifers weighing 500 to 600 pounds brought 94.00 to 112.00, and 7 to 8 weights from 88.00 to 95.00 per hundredweight.