Market News

Monday midday cash livestock market

The country is very quiet on Monday with feedlot manager’s collecting new showlists. Bids and asking prices are not well defined. Last week’s trade surprisingly started late Wednesday afternoon in the South at mostly 129.00, a $1.00higher than the bulk of the previous week’s deals. Northern dressed business took place on Thursday with a range of 203.00 to 204.00, $5.00 to 6.000 higher. DTN says they expect the feedlot offering to be somewhat smaller thanks to larger negotiated trade volume totals especially in the North. On the other hand the combination of a bigger buy and last week’s slower chain speed could mean that packers are not as close to the knife as they were the previous week.

Choice boxed beef is 1.69 higher at 197.98, and select is 1.04 higher at 181.02.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 6.000 head. Compared to last week, steer and heifer calves opened steady, yearlings had no early test. Demand and supply was moderate. Feeder steers medium and large 1 weighing 500 to 600 pounds brought 170.00 to 176.00. 5 to 6 weight heifers’ traded at 145.00 to 162.00.

Barrow and gilt prices in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Nationally the market is 2.32 lower on a carcass basis with a weighted average of 87.19, in the East hogs are 1.68 lower at 87.27. Missouri direct base carcass meat price is steady to 1.00 higher at 83.00; sows are 1.00 to 2.00 lower from 56 to 62.00.

The pork carcass value FOB plant is .18 lower at 94.12.

Iowa live hog weights have exploded in recent weeks. For the week ending Oct. 12, barrows and gilts averaged 277 pounds, 2.7 pounds greater than the previous week and 4.8 pounds heavier than 2012. Since the week ending Sept. 28, Iowa butchers have gained 6 pounds, 4 pounds more than the same period in 2012 and 3 pounds greater than the three-year average. 

 

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