Market News

Midday livestock markets

It is a typical Tuesday in cattle country, very quiet. Bids and asking prices are not well defined, although a few showlists have been rumored to be priced around 148.00 in the South and 236.00 in the North. We could start to see some business by midweek due to the short bought status of packers.

Boxed beef cutout values are higher in the morning report. Choice beef is up .93 at 223.20, and select is .56 higher at 229.44.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday were seasonally light at just 3798 head. Compared to last week, feeder steers and heifers traded mostly 5.00 to 10.00 lower. There were not enough steer and heifer calves for a trend, but a lower undertone was noted. Buyer demand was light to moderate following the live and feeder cattle futures contracts closing lower for four consecutive days last week. Quality was mostly plain to average. Feeder steers medium and large 1 averaging 767 pounds traded at 213.15 per hundredweight. 676 pound heifers brought 207.06.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.46 higher at 75.61 weighted average on a carcass basis, the West is up 1.54 at 75.67, and the national report is .30 higher at 73.50. Barrows and gilts at Midwest markets on a live basis are 1.00 lower to 2.00 higher from 46.00 to 60.00.

The pork carcass cutout value is up.07 at 84.93.

Barrow and gilt carcass weights for the week ending July 11 averaged 209 pounds, a pound heavier than the previous week but 1 pound lighter than a year-ago. Over the past six weeks dressed weights have averaged 209.2 pounds, 2.3 pounds lighter than the same six week period in 2014. Weights are forecast to trend sideways to lower into August.