Market News

Midday cash livestock markets

Some scattered bids are being reported on the cattle in Kansas, Texas and Nebraska at 116.00 on the live basis. Private sources report bids of 184.00 to 186.00 dressed in Nebraska. Asking prices are reported around 120.00 in the South, and 190.00 to 192.00 in the North. Packer inquiry should improve as the day progresses, but significant trade may be delayed until Thursday or Friday.

Boxed beef cutout values are firm to higher in the morning report. Choice beef is up 2.27 at 220.48, select is .38 higher at 198.59.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 3,357 head on Tuesday. Compared to last week, feeder steer and heifer calves were 3.00 to 12.00 lower. Heavyweight yearling steers traded 4.00 to 7.00 lower with yearling heifers selling steady to 5.00 higher. Demand was moderate on a moderate supply. Feeder steers medium and large 1 weighing 576 pounds averaged 148.13 per hundredweight. 581 pound heifers brought 131.78.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.44 lower, the West is down 1.37 with both at 80.62 weighted average on a carcass basis. Nationally the market is 1.30 lower at 79.84. Missouri direct base carcass meat price is steady from 68.00 to 74.00. Midwest hogs on a live basis opened steady to 1.00 higher from 48.00 to 58.00.

The pork carcass cutout value is .07 lower at 88.43 FOB plant. Ribs and loins are lower, and bellies are over 2.00 higher.

Packer interest in hogs remains light with the overall Saturday slaughter runs expected to remain near 12,000 head. The lack of total hog numbers moving through the system through the week indicates packers are not overly aggressive in sourcing hogs.