Market News

Midday livestock markets

Cattle country is expected to be quiet today with business limited to the collection of the new showlists. Bids and asking prices have yet to be established. Last week’s trade was light once again and prices continued to drop like a rock. Live prices were as much as $6.00 to 12.00 lower than the previous week, while dressed business was off as much as 12.00 to 19.00.

Boxed beef cutout values are lower again with the choice down 1.34 at 204.43, and select down 2.15 at 199.21.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 6,800 head Compared to last week, feeder steers and heifers were not established in the early rounds. Steer and heifer calves opened 10.00 to 15.00 lower. The early demand was moderate. The bulk of the supply has been average to attractive calves. Feeder steers medium and large 1 weighing 550 to 600 pounds traded from 180.00 to 191.00 per hundredweight. 500 to 575 pound heifers brought 173.00 to 179.50.

Barrows and gilts in the Iowa/Minnesota direct trade and the East are not reported due to confidentiality. Western markets are 1.31 higher with a weighted average of 71.52 on a carcass basis, nationally the hog market is .12 lower at 70.54. Missouri direct base carcass meat price is steady to 1.00 higher at 64.00. Midwest hogs on a live basis are steady to 3.00 higher from 47.00 to 60.00.

The pork carcass cutout value is up .62 at 86.15 FOB plant.

Although processing margins are excellent, the season is more likely to serve-up more market hogs than fewer over the next 30-60 days.

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