Market News

Midday cash livestock markets

Cattle country is quiet on Tuesday with bids and asking prices not fully established, although a few steers and heifers have an early price tag of around 130.00 in parts of Texas. Significant trade volume will probably be delayed until the second half of the week.

Boxed beef cutout values are mixed with the choice down .24 at 219.97, and select up 1.22 at 211.45.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 8500 head. Compared to last week, feeder steers and heifers were 1.00 to 4.00 lower. Steer and heifer calves were steady to 3.00 lower. Stocker cattle were lightly tested with last week, with some cattle selling sharply higher than a week ago. The demand was moderate to good and definitely improved from the open, Cattle buyers were a little uneasy after another week of sharply lower cattle futures and the sharp declines in cash slaughter prices. Feeder steers medium and large 1 averaging 723 pounds brought 147.37 per hundredweight. 723 pound heifers brought 137.00.

Barrows and gilts in the Iowa/Minnesota, Western and Eastern direct trade are not reported due to confidentiality. Nationally the market is .54 higher at 65.70 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 55.00 to 61.00. Midwest hogs on a live basis are steady to 2.00 higher from 40.00 to 50.00.

The pork carcass cutout value is up 1.01 at 81.59 FOB plant. Ribs, loins and picnics are significantly higher.

The pork carcass value jumped back over $80 Monday, well supported by stronger demand for retail cuts as well as higher sales of ribs and hams.

Despite last week’s big hog kill, the next several weeks are expected to feature lower slaughter levels ranging mostly between 2.11 million and 2.16 million head.