Market News

Wednesday midday cash livestock markets

Cattle country is fairly quiet with just a few token bids noted in Kansas at 156.00, due in part to yesterday’s sharply higher live cattle contracts and significantly higher boxed beef values. It is a safe bet showlists will be priced even higher today, around 160.00 plus live and 252.00 plus dressed.

Boxed beef cutout values were mixed in the morning report with the choice beef .77 lower at 252.03, and select was up 1.54 at 247.33.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 2914 head on Tuesday. Compared to last week, the bulk of the feeder cattle trended 2.00 to 8.00 lower. Yearling steers traded firm with yearling heifers not well tested, although the undertone was lower. Demand was good on a moderate supply. Feeder steers medium and large 1 averaging 625 pounds brought 233.20 per hundredweight. Feeder heifers weighing 612 pounds brought 221.01.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. In the West the market is .79 lower at 125.19 weighted average on a carcass basis. Nationally barrows and gilts are .95 lower at 125.03. Missouri direct base carcass meat price is steady from 119.00 to 122.00. Midwest hogs are 2.00 higher to 2.00 lower from 88.00 to 96.00 on a live basis.

The pork carcass cutout value was down .46 at 133.38 FOB plant in the morning report.

Given the recent surge in wholesale beef prices, pork items are probably becoming increasingly competitive. Furthermore, the discount of lean hog futures represents greater pork featuring plans that can take comfort in both the likelihood of cheaper costs and larger wholesale offerings.