Market News

Tuesday midday cash livestock markets

It is very quiet on the cattle front with no bids on the table and asking prices poorly defined. A few showlists have been priced around 155.00 in the South and 245.00 to 248.00 in the North. Significant trade will probably be delayed until Wednesday or Thursday. The assumption can be made both sellers and buyers will try hard to get the cash question settled before Friday ahead of the holiday weekend.

Boxed beef cutout values are near steady with the choice down .21 at 249.48, and select .32 lower at 238.75.

Feeder cattle receipts at the Tri-State Livestock Auction at Mc Cook, Nebraska totaled 1200 head on Monday. There was no price comparison to last week, due to no feeder cattle sale. The demand was good on all weights of cattle. 110 head of feeder steers medium and large 1 averaging 513 pounds brought 295.03 per hundredweight. 239 heifers weighing 854 averaged 211.50.

Barrows and gilts in the Iowa/Minnesota direct trade are .20 lower with a weighted average of 93.60 on a carcass basis, the West is down .14 at 93.96, and Eastern markets are not reported due to confidentiality. Missouri direct base carcass meat price is $7.00 lower at 88.00. Barrows and gilts at Midwest markets ae fully steady on a live basis from 62.00 to 75.00.

The pork carcass cutout value is 1.10 higher at 103.87 FOB plant.

The enormous break we’ve seen in the wholesale pork market should work to “buy” a new wave of demand from retailers and food managers over the next 30 days or so. For example, the recent break in the market has presented an excellent opportunity for those individuals who are behind on ham bookings to secure product for the holidays at a very attractive price compared to just two weeks ago.