Market News

Tuesday midday cash livestock prices

Cattle country is quiet on Tuesday with bids and asking prices not well defined. DTN reports they have heard of a few showlists that have been priced around 149.00 to 150.00 in the South, and 243.00 plus in the North. The new showlists distributed on Monday are generally smaller than last week with only Kansas offering more ready steers and heifers. The historically strong basis in the cattle market remains a sales incentive, while large discounts on summer live futures continue to temper deferred price expectations.

Boxed beef cutout values are higher in the morning report. Choice beef is up .95 at 223.47, and select is 2.09 higher at 214.08.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 5714 head. Compared to last week, feeder cattle and calves were mostly steady, with instances of 1.00 higher on cattle suitable for grass. There is continuing good demand for all classes of feeders. The quality of cattle offered was plain to average. Yearling feeder steers, medium and large 1weighing 650 to 700 pounds traded from 187.50 to 198.50. Yearling heifers weighing 650 to 700 pounds brought 167.50 to 178.50.

Barrow and gilt prices in all three direct trade areas are not reported due to confidentiality. Nationally the market is 1.91 lower with a weighted average of 116.00 on a carcass basis. The Missouri direct base carcass meat price is 2.00 to 5.00 lower from 112.00 to 114.00. Terminal hogs are steady to 1.00 higher to 2.00 lower from 81.00 to 96.00 on a live basis.

The pork carcass cutout value FOB plant in the morning report is down 1.66 at 122.75.

This year’s late arrival of Easter has probably been a factor in the defensive wholesale meat in recent weeks. But now that retailers can see beyond Lent, buying interest should start to improve.

Hog slaughter last week totaled 2.02 million head, down 2.8% from 2013 and generally supporting the relative bearish supply implications of the March 1 Hog and Pig report.