Market News

Midday livestock markets

Cattle country is quiet as expected on Tuesday with bids and asking prices poorly defined, although a few steers and heifers have been rumored to be priced around 125.00 in the South and 195.00 in the North, according to DTN. The new showlists are probably smaller this week with only Nebraska showing more ready cattle.

First of the month paychecks will hopefully spark greater consumer spending for beef and thereby stimulate some aggressive wholesale buying.

Boxed beef cutout values are higher in the morning report, choice is up 1.39 at 205.36, and select is .77 higher at 199.82.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards totaled 3300 head on Monday. Compared to last week, feeder steers were 5.00 to 25.00 lower and feeder heifers trended 5.00 to 15.00 lower. The demand for feeder cattle was light to moderate on a moderate supply. Feeder steers medium and large 1 averaging 566 pounds averaged 182.11 per hundredweight. 563 pound heifers brought 164.00.

Barrows and gilts in the Iowa/Minnesota direct trade opened 1.76 lower at 71.72 weighted average on a carcass basis, the West is 1.13 lower at 71.61, and the national report was .31 lower at 70.81. Missouri direct base carcass meat price was steady at 64.00. Midwest hogs on a live basis are steady to 1.00 higher from 45.00 to 60.00.

Pork carcass cutout value was up .14 at 87.31.