Market News

Monday midday cash livestock prices

The main item of business in cattle country on Monday is the collection of this week’s showlists. Bids and asking prices are not well established. A light to moderate trade took place in all areas on Thursday last week at 170.00 live and 265.00 to 266.00 dressed.

Although September placements in Friday’s cattle on feed report exceeded 2013 for the first time since last February, the early fall in-movement was historically small. This was the second smallest effort since the data series began in 1996.

Boxed beef cutout values were higher in the morning report, choice up 1.64 at 249.05, select is 2.94 higher at 235.65.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 4500 head. Compared to last week, steer calves opened 5.00 to 10.00 lower. Heifer calves were steady to 5.00 lower. Yearling feeders were mostly steady. 500 to 600 pound steers traded from 250.00 to 280.00 per hundredweight. 5 to 6 weight heifers brought 222.50 to 252.00.

Barrows and gilts in the three major trade areas are not reported due to confidentiality. Barrows and gilts nationally are 2.10 lower with a weighted average of 87.33 on a carcass basis. Missouri direct base carcass meat price is 5.00 lower to 2.00 higher from 81.00 to 84.00. Barrows and gilts at Midwest markets are steady to 2.00 lower from 63.00 to 77.00.

Pork carcass cutout value is 2.84 higher on Monday at 101.09 FOB plant.

The pork cut-out plunged below $100.00 on Friday for the first time since mid-February. Over the last two weeks, carcass value has been gutted by more than $21. Wholesale ham prices have lost an astonishing 35% over the same period. Unfortunately, seasonal odds suggest that the worse is still ahead of us.

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