Market News

Midday cash livestock markets

A few bids on the cattle have been reported by private sources in Nebraska at 253.00 on a dressed basis. All other areas of feedlot country are quiet so far today. Asking prices are around 163.00 in the South, and 260.00 plus in the North.

Boxed beef cutout values were higher in the morning report with the choice up 1.36 at 261.18, and select was .84 higher at 250.39.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri on Tuesday totaled 2637 head. Compared to last week feeder steers traded 4.00 to 8.00 lower with heifers 3.00 to 6.00 lower. Yearling steers and heifers, although lightly tested traded 5.00 to 10.00 lower. The demand was good on a moderate supply which consisted of 44 percent steers, 10 percent bulls, and 43 percent heifers. Nearly 23 percent of the run weighed over 600 pounds. Feeder steers medium and large 1 averaging 572 pounds traded at 260.28 per hundredweight. 516 pound heifers brought 246.25.

Barrows and gilts in the Iowa/Minnesota direct trade are .69 higher the West is up .70 with both at 63.13 weighted average on a carcass basis, nationally the market is down .38 at 81.68. Missouri direct base carcass meat price is steady from 50.00 to 58.00. Midwest hogs on a live basis are a 1.00 higher to 1.00 lower from 39.00 to 50.00.

The pork carcass cutout value FOB plant is down 1.10 at 67.51. All primals were lower except bellies were over 5.00 higher.

Between excellent margins and an ocean of chops, sausage, and bacon at their disposal, retailers can be expected to aggressively feature pork through the late spring and early summer.

Pork processing margins are not attractive, encouraging packers to look for ways to lower the cost of live inventory.