Market News

Midday cash livestock markets

Cattle country is quiet with bids and asking prices still not well defined. A few early showlists have been priced around 164.00 to 166.00 in the South and 265.00 plus in the North. Significant trade volume could be delayed until the second half of the week.

Cattle formula totals for last week were larger in all three major feeding states, especially in Nebraska. The total trade volume was mixed, lower in Kansas and Nebraska but higher in Texas.

Boxed beef cutout values in the morning report are higher. Choice beef is up .87 at 260.29 and select is up 2.00 at 251.85.

Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 11,762 head. Compared to last week, steers weighing less than 700 pounds were steady to 5.00 lower, over 800 pounds 10.00 to 15.00 lower, heifers weighing over 700 pounds 5.00 to 10.00 lower. The demand was moderate to good on a heavy supply. Feeder steers medium and large 1 averaging 725 pounds averaged 220.96 per hundredweight. 599 pound replacement heifers averaged 261.00.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality, the West is down 1.45 with a weighted average of 69.21 on a carcass basis, the East is .47 lower at 69.56. Nationally the direct market is down .77 at 69.49. Missouri direct base carcass meat price is steady to 2.00 higher from 62.00 to 67.00. Midwest hogs on a live basis are steady from 44.00 to 50.00.

The pork carcass cutout value is .62 lower at 83.91 FOB plant.

Hog slaughter last week totaled 2.276 million head, up 6.4% from the week before but only up 0.6% from the same week last year. So far ready numbers seem to be building slower than the Dec 1 inventory implied.

There are some signs that meat buyers are switching back to wholesale pork and away from expensive beef.