Market News

Monday midday cash livestock markets

The main item of business in cattle country on Monday is the collection of the new showlists. The new offering is expected to be about steady with last week. Preliminary asking prices should be around 158.00 in the South and 250.00 plus in the North. Beef cutouts closed significantly lower on Friday, reflective of a defensive tone that some could characterize as typical for midsummer. Yet production remains extremely light, totaling no more than 460.9 million pounds, 11.4 percent below last year. Such severe reduction could easily work to insure a firm undertone in the wholesale trade according to DTN.

Boxed beef cutout values were higher in the morning report. Choice beef is up 2.02 at 250.47, and select is 1.69 higher at 244.34.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 4,000 head. Compared to last week, steer calves opened 5.00 to 15.00 higher, heifer calves were steady, and yearlings had no early test. Demand was good on a moderate supply. Feeder steers medium and large 1 weighing 500 to 600 pounds ranged from 255.00 to 290.00. 5 to 6 weight heifers brought 225.00 to 236.00.

Barrows and gilts in the Iowa/Minnesota, Western and Eastern direct trade areas are not reported due to confidentiality. Nationally the market is 1.05 lower with a weighted average of 126.29 on a carcass basis. Missouri direct base carcass meat price is steady to 3.00 lower from 119.00 to 122.00. Barrows and gilts in the Midwest are 2.00 lower to 3.00 higher live from 88.00 to 96.00.

The pork carcass cutout value is down .79 at 136.77.

Last week’s hog slaughter once again reflects the severe pig death loss last winter caused by PED, totaling no more than 1.833 million head, down 1.4% from the week before 8.9% less than 2013.