Market News

Midday cash livestock markets

Cattle country is quiet on Monday with business limited to the collection of the new showlists. Last week’s light to moderate trade took place late on Friday with dressed business mostly at 210.00, generally steady with the previous week’s weighted average. Kansas waited until early evening to trade at 136.00 mostly 2.00 lower. Texas had a late Friday trade and a few Saturday at 136.00. Packers will probably start out the week very short bought.

Boxed beef cutout values are nixed in the morning report with choice 219.74, down .89, and select 217.24, up .73.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards today totaled 6693 head. Compared to last week, steer and heifer calves were selling firm to 2.00 higher and yearlings were not well tested early. Demand is good on a moderate supply. Feeder steers medium and large 1 weighing 500 to 600 pounds averaged 180.00 to 205.00 per hundredweight. 6 t0 7 weight heifers’ brought 138.00 to 151.00.

Feeder cattle receipts for a special sale at the Greenville, Illinois Livestock totaled 1107 head. The February feeder special featured a high quality offering that was well received with active trade and good demand. The entire offering was pre-conditioned and on a complete vaccination program. 217 head of steers medium and large 1 averaging 774 pounds averaged 158.71 per hundredweight. 103 heifers weighing 879 brought 140.00.

Barrows and gilts in the Iowa/Minnesota direct trade opened .68 higher at 63.08 weighted average on a carcass basis, the West was up .89 at 63.11, and nationally the market is .07 lower at 61.38. Missouri direct base carcass meat price is steady to 1.00 higher from 51.00 to 57.00. Midwest hogs on a live basis are steady to 3.00 higher from 38.00 to 48.00.

The pork carcass cutout value on Monday is 77.10 up .47 FOB plant.

The pork carcass value jumped more than a dollar higher on Friday with all primals reflecting better demand except the picnic. Despite the steady increase in the cost of live inventory in recent weeks, processing margins remain excellent.

With spot February lean hog futures set to expire on Friday and soon-to-be-spot April already $6,00 above the cash index, buying interest on nearby lean contracts could start to slow.