Market News

Monday midday cash livestock markets

As expected on Mondays, cattle country is very quiet with the main item of business the collection of the week’s showlists. Last week’s trade started with light business late Thursday afternoon in all major feeding states with Southern live sales marked at 123.00, fully steady with the previous week. Dressed deals in the North ranged from 194.00 to 195.00 mostly 194.00 also steady with the bulk of the previous week business.

Boxed beef cutout values are higher in the morning report with the choice up .21 at 192.90, and the select is .37 higher at 176.31.

Feeder cattle receipts at the Ft. Pierre, South Dakota Livestock Auction totaled 3241 head last week. Compared to two weeks ago feeder steers less than 800 pounds were not well compared, over 800 pounds were steady to 3.00 higher. Heifers over 750 pounds were 2.00 to 4.00 lower. There was good demand for several long strings of steers and many packages of tested open heifers.  Feeder steers averaging 866 pounds brought 158.41 per hundredweight. 864 pound heifers averaged 148.31.

Barrows and Gilts in the Iowa/Minnesota Direct trade are 2.13 higher; the West is up 2.42 with a weighted average of 97.52 on a carcass basis in both regions. Eastern hogs are up .24 at 91.25. Missouri direct base carcass meat price is steady from 82.00 to 83.00. Terminal hogs are 1.00 to 2.00 higher from 60.00 to 66.00 live.

The pork carcass value is 3.28 lower at 94.88 FOB plant on a negotiated basis.

DTN reports hog slaughter and pork production last week totaled more than 10% under the comparable levels of 2012. Given that supply readings are falling increasingly short of June 1 implications, it’s beginning to look like the PED virus is more serious than previously imagined with fourth quarter tonnage likely to be much smaller than previously projected.