Midday cash livestock markets

Barrows and gilts in the Iowa/Minnesota direct trade are 1.50 lower at 69.03 on a carcass basis, the West is 1.62 lower at 68.99, and the East is down 1.16 at 69.50. Missouri direct base carcass meat price opened steady to 2.00 lower from 64.00 to 65.00. DTN predicts slaughter plans should be more aggressive this week with Tyson’s plant at Logansport back on line. Yet processing margins do not look encouraging due to rather lackluster wholesale pork demand.

The major item of business in cattle country has buyers and sellers busy taking inventory. Show lists are expected to be about steady with last week. Early asking prices are expected to start out around 98.00 in the South and 152.00 to 154.00 in the North. While feedlot operators continue to be bullish, packer attitudes are considerably less buoyant given their inability to force the beef trade higher and maintain adequate margins. Choice boxed beef started the week higher, up 1.15 at 150.79, and select is up .33 at 148.83.

Feeder cattle receipts at the Joplin Regional Stockyards total 6000 head. Compared with last week, steer and heifer calves opened steady to 2.00 higher. Yearlings were not well tested in the early go. Demand and supply was moderate. Feeder steers medium and large 1 weighing 500 to 600 pounds brought 115.00 to 123.00 per hundredweight, 5 to 6 weight heifers traded at 102.00 to 104.50.