Market News

Midday cash livestock markets

Cattle country is at a virtual standstill on Tuesday with bids and asking prices not well established as of yet. With last week’s sufficient trade volume totals, significant business this week could be delayed until Thursday or Friday.

Boxed beef cutout values are mixed, choice beef is down 1.54 at 208.23, and select is up 1.04 at 201.00.

Feeder cattle receipts at the Oklahoma National stockyards on Monday totaled 6500 head. Compared to last week, feeder steers and heifers were mostly steady to weak, especially for feeder heifers. Steer and heifer calves were not well tested. The early demand was moderate to good for feeder cattle. The quality was average to attractive. Strong storms and heavy rains across the state hampered livestock movement over the weekend. Feeder steers medium and large 1 averaging 777 pounds traded at 141.65 per hundredweight. 766 pound heifers brought 132.50.

Feeder cattle receipts at the Joplin, MO Regional Stockyards on Monday totaled 3551 head. Compared to last week, steer calves were 3.00 to 5.00 lower, except 450 to 550 pound steers steady to 3.00 higher, better calves and yearlings were steady. The demand and supply was moderate. Feeder steers and heifers averaging 567 pounds traded at 162.14 per hundredweight. 523 pound heifers brought 144.60.

Barrows and gilts in the Iowa/ Minnesota direct trade are .17 higher at 70.76 weighted average on a carcass basis, the West is up .26 at 70.81, and nationally the market is .91 lower at 68.40. Missouri direct base carcass meat price is steady from 59.00 to 64.00. Midwest hogs on a live basis steady from 41.00 to 55.00.

Pork carcass cutout values are down .67 at 83.06 FOB plant.

Wholesale pork demand continues to flower. The cutout gained another dollar plus on Monday, well supported by all primals except the butt and belly.

If the wholesale beef market keeps dropping like a sack of rocks, this reality is likely to limit the seasonal blue sky available to the wholesale pork trade.

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