Cattle country is quiet on Monday as the distribution of the new showlists is the main item of business. Cattle feeders should start out today pricing showlists several dollars higher at around 124.00 South and 198.00 North, generally 1.00 to 2.00 higher than last week. Ready numbers are likely to be some larger.
Boxed beef cutout values are mixed with the choice down .28 at 196.66, and select is .94 higher at 183.59.
Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 10,000 head. Feeder cattle are not fully established in the early rounds. Steer and heifer calves are steady to 2.00 lower. The early supply includes several consignments of new crop claves. The demand early is moderate to good. Feeder steers calves weighing 550 to 600 lbs. traded at 169.00 to 172.50. 550 TO 660 LB. heifers brought 153.00 TO 159.00 per hundredweight.
Barrows and gilts in the direct trade areas opened sharply higher with Iowa/Minnesota hogs up 4.17 at 93.03 on a carcass basis, in the West the market is up 3.44 at 92.64, and Eastern hogs are not reported due to confidentiality. . Missouri direct base carcass meat price is steady to 3.00 lower from 82.00 to 84.00. Terminal hogs are steady to 1.00 higher from 56.00 to 60.00.
Pork trading is very slow with bellies not tested and fresh cuts are not established.
Until packers can be reassured a sustained pork demand, they may remain very cautious in terms of chain speed. For example, next Saturday’s kill could once again be close to zero. Additionally, some will curb appetites in the early rounds: today’s slaughter may be no larger than 390,000.
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