Market News

Tuesday midday cash livestock markets

Expect a typical Tuesday in cattle country, with little to suggest the cash market will be unusually energetic. Look for the bids and asking prices to remain poorly defined. A few showlists will be priced around 148.00 in the South and 238.00 plus in the North. Trade is not expected until at least midweek, but the showlists are larger and that could affect the early asking prices.

Boxed beef cutout values are higher in the morning report, choice boxes are up 2.26 at 231.32, and select is 1.23 higher at 219.30.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 4663 head. Compared to last week, steer and heifer calves traded unevenly steady, yearlings were steady to 2.00 higher. The demand was good on a moderate supply. There was a high percentage of fleshy new crop calves along with a good offering of yearlings in the mix. Feeder steers, medium and large 1 averaging 524 pounds averaged 208.58 per hundredweight. 527 pound heifers traded at an average of 196.42.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western hogs are 4.90 lower at 110.50 weighted average on a carcass basis. Nationally barrows and gilts are 2.85 lower at 110.20. Missouri direct base carcass meat price is 1.00 to 3.00 lower from 105.00 to 107.00. The Midwest hog market on a live basis is steady to 2.00 lower from 79.50 to 94.000.

Pork carcass value is down .84 at 118.58 FOB plant.

As pork processors pull into the last half of April they should have fewer contracts to draw upon for slaughter needs. Such a reality will force hog buyers to become more aggressive in terms of negotiated procurement.

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