The main item of business in cattle country on Monday is the distribution of the new showlists. Given the combination of limited trade volume and slower chain speed last week, some were left with the Impression the cash cattle market never got off the ground. There was scattered business at 148.00 South and 237.00 North, but the general trend was poorly defined and not very suggestive of the market’s next step according to DTN. This week’s showlists could be somewhat larger thanks to more unsold leftovers carried over from Friday.
Boxed beef cutout values were higher in the morning report with choice up 1.72 at 237.74, select was 1.95 higher at 234.82.
Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 6,000 head. There was no sale last week due to inclement weather. Compared to two weeks, steer calves weighing less than 500 pounds opened 5.00 to 10.00 higher, steer calves over 500 pounds and heifer calves sold steady early. There was no test on yearlings. Demand was good on a moderate supply. Steers weighing 500 to 600 pounds traded from 209.00 to 223.00 per hundredweight. 5 to 6 weight heifers brought 172.00 to 197.00.
Barrows and gilts in the Iowa/Minnesota direct trade are 3.15 lower and the West is down 2.98 with a weighted average on a carcass basis of 104.14 in both regions. Eastern hogs are up 1.68 at 104.03. The Missouri direct base carcass meat price is steady to 6.00 higher from 97.00 to 98.00. Terminal hogs are 2.00 to 3.00 higher from 68.00 to 76.00.
Pork carcass value FOB plant is 1.60 higher at 113.59. All primals with the exception of hams were higher.
Hog slaughter last week totaled 2.052 million head, down 4.8% from the week before and down 6.6% compared to the same week last year. This is the first week with pork production below the year-ago level since the week ending January 11, finally, hard evidence of serious PEDv death loss.