Barrows and gilts in the Iowa/Minnesota direct trade opened 1.59 lower, the West was down 1.47, both at 67.22 on a carcass basis, and the East is 1.23 lower at 68.03. The Missouri direct base carcass meat price on barrows and gilts is steady at 64.00. Pork shipments to Russia could start next week according to DTN, and we are very close to returning to the Chinese market. Pork carcass cutout value took it on the chin again yesterday with significant losses surfacing in the ham, picnic and loin primal. Despite lower cash bids, processors are not making much progress in restoring margins.
A few more bids are being reported in the feedlot cattle in Kansas and Texas at 92.00 to 93.00 where asking prices are around 96.00 to 97.00. No bids have been reported in the North where feedlot operators are standing by asking prices of 152.00 plus. With the separation between asking prices and bids or lack thereof significant trade could be delayed until Thursday or Friday. Choice boxed beef is up 1.02 at 153.54, and select is 1.76 higher at 152.47.
Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, MO totaled 3400 head on Tuesday. Compared to last Tuesday, steers less than 550 lbs were mostly steady, over 550 lbs 2.00 to 3.00 higher. Heifers were unevenly steady. Supply was moderate, and the demand was good to very good. Feeder steers medium and large 1 weighing 500 to 600 lbs traded from 113.00 to 125.00, the same weight heifers brought 101.00 to 109.00.
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