Market News

Midday Cash livestock markets

Cattle country is quiet on Tuesday with bids and asking prices not fully established. A few show lists have been priced around 162.00 in the South and 260.00 plus in the North. Significant trade is not expected until later in the week.

Boxed beef cutout values are sharply higher with the choice up 2.39 at 243.47, and select is 2.63 higher at 242.01.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 4,000 head. Compared to last week, feeder steers trended mostly 2.00 to 7.00 lower, feeder heifers were sharply lower on a light test. There were not enough calves for a market trend. Frigid temperatures and snow moved into the state and that caused producers to hold off selling this week. Feeder steers, medium and large 1 weighing 731 pounds averaged 208.40 per hundredweight. 661 pound heifers brought 199.99.

Barrows and gilts in the Iowa/Minnesota direct trade are 2.19 higher at 64.60 weighted average on a carcass basis, the West is also up 2.19 at 64.56. The Eastern markets are not reported due to confidentiality. Missouri direct base carcass meat price is steady to $5.00 higher from 52.00 to 58.00. Midwest hogs on a live basis are steady to 2.00 higher from 40.00 to 44.00.

Pork carcass cutout value FOB plant at 70.66 is down .93. 

Higher cash hog prices on Monday seemed to confirm market suspicions’ that the market had finally turned a big corner. Additionally the fact that higher bids on Monday managed to generate moderate receipts clearly suggests country supplies are becoming more manageable.