Despite the fact that last week’s cattle trade was light, buyers are showing very little early week interest in this week’s showlists. The offering is generally larger than last week. Bids and asking prices are not well defined at midday. DTN is reporting they have heard of a few showlists priced around 128.00 plus in the South, and 203.00 plus in the North. Significant trade volume is not expected until the second half of the week.
Boxed beef cutout values are mixed in the morning report with the choice down .19 at 195.13, and select is up .89 at 175.48.
Feeder cattle receipts at the Joplin, Missouri Stockyards on Monday totaled 7537 head. Compared to last week, steer and heifer calves were steady to 2.00 lower, except steer calves weighing less than 500 lbs. 2.00 to 5.00 lower, yearling steers were steady. Yearling heifers at Joplin were steady to 2.00 lower. The demand was moderate, and the supply was moderate to heavy. The bulk of the calf offering was fleshy, un-weaned calves. 320 feeder steers, medium and large 1 averaging 572 lbs. brought 152.27 per hundredweight. 232 heifers with an average weight of 570 lbs. traded at 137.08.
Barrows and gilts in the Iowa/Minnesota direct trade on a carcass basis are 3.95 lower, the West is down 3.47 with both at 80.55 weighted averages, and the East is not reported due to confidentiality. Missouri direct base carcass meat price is 3.00 to 4.00 higher from 70.00 to 80.00. Terminal hogs are steady to 1.00 higher from 53.00 to 58.00.
The pork carcass value continues to expand, jumping nearly a buck higher on Monday with a significant push coming from the picnic, rib, and ham primals.