Market News

Midday cash livestock markets

Cattle buyers are slow to move to the feedlots. Such slowness is of course typical for a Tuesday, but the holiday shortened schedule should soon make a difference in the market’s standard time table. Packer inquiry seems likely to gradually surface through the day, possibly setting the stage for light to moderate business on Wednesday before Thanksgiving Day. A few showlists have been priced around $132.00 plus in the South, and 200.00 to 202.00 in the North.

Boxed beef cutout values are higher in the morning report, with the choice up 1.16 at 203.95, and select is 2.07 higher at 193.12.

Feeder cattle receipts at the Oklahoma National Stockyards totaled 7,300 head on Monday. Compared to last week, feeder steers and heifers were 2.00 to 4.00 higher. Steer calves trended 6.00 to 8.00 higher. Heifer calves were 10.00 to 20.00 higher. The demand was very good for all classes. The quality was average to attractive with several long weaned calves available. The supply was limited this week due to Thanksgiving, however a large run is expected next week. Feeder steers medium and large 1 averaging 676 pounds traded at 177.37 per hundredweight. 629 pound heifers brought 172.83.

The Midwest Exchange Regional Stockyards at Mexico, Missouri sheep and goat auction. 363 sheep in the run. Demand was moderate to good, and the supply was light to moderate. Slaughter lambs, nontraditional markets. Choice with a few prime 2-3 a small package at 55 pounds at 217.00 per hundredweight. Shorn feeder lambs a lot weighing 113 pounds at 147.50. 195 goats at Mexico. Feeder kids selection 1-2 a package weighing 37 pounds at 237.50 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade, West and East are not reported due to confidentiality. Nationally the hog market is 1.25 lower at 49.64 weighted average on a carcass basis. Midwest hogs on a live basis are fully steady from 28.00 to 40.00. Missouri direct base carcass meat price is steady at 44.00 with some buyers still out of the market.

The pork carcass cutout value is .01 higher at 72.31 FOB plant.

The pork carcass value slumped into the week with price pressure evident on all primals except the ham. Given that last week’s hog kill of 2.4 million head was the largest since the week ending September 22, 2012, late November demand could continue to struggle in the face of formidable tonnage.

The average price of pork at retail during October was $3.97 per pound, 5.4 cents higher than the month before and the highest since January.