Market News

Midday cash livestock markets

Barrows and gilts in the Iowa/Minnesota direct trade opened .47 higher at 74.85 on a carcass basis, the West was up .62 at 74.47, and the East is down .02 at 73.67. Missouri direct base carcass meat price is steady to 1.00 higher from 69.00 to 70.00. After a slow start packers are stepping up their spending efforts. Prices are firmer due to packers being short-bought, surging carcass value, and improving processor margins. Chain speed is expected to accelerate through Friday for roughly the same reasons.

Cattle trading is slow in the Texas Panhandle with light demand. Compared to Tuesday a few live sales are steady at 99.00. Trading is slow in Nebraska with live sales a 1.00 lower than Tuesday at 99.00. Trading is inactive in all other reporting regions. The balance of the cattle on the show lists are priced around 101.00 to 102.00 in the South and 163.00 to 165.00 in the North.  Choice boxed beef at midday is .28 lower at 166.64, and select is .39 higher at 164.89.

Feeder cattle receipts at the St. Joseph, MO Stockyards on Wednesday are estimated at 3200 head. Compared to last week’s active trade, feeder steers and heifers under 600 pounds opened steady to 3.00 lower, over 600 pounds, on a light test mostly steady.  Feeder steers medium and large 1 weighing 500 to 550 pounds traded from 136.00 to 139.00. Feeder heifers weighing 500 to 575 pounds brought 109.50 to 119.50.

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