Market News

Midday cash livestock markets

Cattle country is quiet today, with both buyers and sellers busy taking inventory. Bids and asking prices have yet to be established. Last week’s trade didn’t take place until Friday afternoon, but it turned out to be worth the weight with Southern live business generally $2.00 higher at 165.00 and Northern dressed business from mostly 262.00 to 263.00, $2.00 to 3.00 higher than last week.

Choice boxed beef is up 1.70 at 252.50, select is 2.57 higher at 249.28

Feeder cattle receipts at the Joplin Regional Stockyards totaled 5,000 head on Monday. Compared to last week, steer and heifer calves were steady to 5.00 higher. Yearling steers were 2.00 to 3.00 higher, yearling heifers trended steady on a limited test. The demand was good on a moderate supply. 500 to 600 pound feeder steers averaged 266.50 to 295.00. 5 to 6 weight heifers averaged 229.00 to 259.00.

Barrows and gilts in the Iowa/Minnesota direct trade are 2.42 lower at 53.46, the West is down 2.56 at 53.27. The east and national reports are not available due to confidentiality. Missouri direct base carcass meat price is steady to 1.00 lower from 51.00 to 53.00. Midwest hogs on a live basis are steady to 1.00 lower from 33.00 to 44.00.

The pork cutout value is .30 higher at 65.65 FOB plant. Only bellies are lower.

The March 1 hogs and pigs report released late last week confirmed smaller than expected herd expansion with the kept for breeding total only 2% greater than last year versus an average trade guess of up 3.5%. Furthermore, the winter pig crop turned out to be slightly smaller than expected. Finally, spring and summer farrowing intentions were all officially estimated below average trade ideas especially relative to June through August.