Market News

Midday cash livestock markets

Cattle country is quiet so far today with just a few scattered bids reported in Kansas at 158.00. There are reports of asking prices around 160.00 to 164.00 in the South and 254.00 plus in the North. Significant trade volume could be delayed until Thursday or later. Cattle futures have been trading limit down in both pits again today.

Boxed beef cutout values are mixed with the choice up .41 at 243.29 and the select down 1.71 at 232.54.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 1691 head on Tuesday. Feeder steers and heifers traded 15.00 to 20.00 lower with spots as much as 30.00 lower. Feeders were feeling the pressure this week as feeder futures closed down the limit four consecutive business days. Demand was surprisingly good on a light supply. Feeder steers medium and large 1 averaging 614 pounds traded at 244.10 per hundredweight. 578 pound heifers brought 217.33.

Barrows and gilts in the Iowa/Minnesota direct trade are 2.73 lower 78.07 weighted average on a carcass basis, the West is down 2.56 at 78.11, and the East is 1.80 lower at 77.77. Missouri direct base carcass meat price is steady to 1.00 lower from 74.00 to 78.00. Midwest hogs on a live basis are steady to 1.00 to 3.00 lower from 52.00 to 60.00.

The pork carcass cutout value FOB plant in the morning report is down 1.28 at 87.70. Only bellies were higher.

The pork carcass value collapsed yesterday, plunging nearly $4.50 lower thanks in large part to the picnic and belly primals faltering by $18.05 and $10.09, respectively.