Market News

Midday livestock markets

Cattle country was typically quiet on Monday as the main item of business was the distribution of the new showlists. Last week a light to moderate trade developed on Thursday with Northern dressed business ranging from 230.00 to 233.00, generally $4.00 lower than the previous week’s weighted average basis Nebraska. Live business in the South was around 145.00, roughly $3.00 lower. Trade volumes appeared to be minimal.

Boxed beef cutout values are higher with the choice up 1.43 at 232.13, and select is .74 higher at 228.97.

Feeder cattle receipts at the Joplin, MO Regional Stockyards totaled just 2,000 head on Monday. A trend was not established due to a late start to the sale. Feeder steers medium and large 1 weighing 500 to 600 pounds brought 245.00 to 290.00 per hundredweight. 5 to 6 weight heifers traded from 215.00 to 220.00.

Feeder cattle receipts at the Oklahoma National Stockyards totaled 4,000 head today. Feeder steers and heifers opened mostly 5.00 lower on comparable sales. Not enough calves for an opening trend. 700 to 750 pound yearling steers traded from 215.50 to 228. 650 to 700 pound heifers 208.00 to 214.

Barrows and gilts in Iowa/Minnesota direct trade are 1.97 lower at 73.56 weighted average on a carcass basis, the West is down 1.32 at 74.58, and the national trade is .91 lower at 73.36. Missouri direct base carcass meat price is steady to 1.00 lower from 70.00 to 71.00. Midwest hogs on a live basis are steady to 1.00 lower from 46.00 to 60.00.

The pork carcass cutout value is up .27 at 84.93 FOB plant.

Last week’s increase in hog slaughter, back over 2.1 million head argues again suggestions that summer supplies have not yet bottomed. Greater pork tonnage could make it tough to sustain last week’s firming in carcass value.