Market News

Cattle showlists delayed until Tuesday

Cattle showlist distribution was delayed until Tuesday due to Monday’s Martin Luther King Observance. Tight fed supplies are expected to generally support steady to firm packer bids through the balance of January. Cattle did not trade until late in the day on Friday. Trading and demand was moderate in all feeding regions. Live sales in the South were generally at 119.00. Northern and Western Corn belt sales were 1.00 to 2.00 higher from 118.00 to 119.00. Dressed sales 2.00 higher at 190.00. Confirmed negotiated sales for the week 91,499 head.

Monday’s cattle slaughter was estimated at 72,000 head, 44,000 less than last week, and down 34,000 from last year.

Boxed beef cutout values are firm to higher on moderate to fairly good demand and light to moderate offerings. Choice beef was up .59 at 191.39, select 187.46, up .92.

The Chicago Mercantile Exchange was closed on Monday.

Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 3,000 head. Compared to last week, steers and heifers opened steady to 2.00 lower. Muddy conditions have made cattle movement slow and difficult. The supply was light and demand was moderate. Feeder steers medium and large 1 weighing 550 to 600 pounds ranged from 129.00 to 146.00 per hundredweight. 550 to 600 pound heifers brought 124.00 to 131.00.

At the Oklahoma National Stockyards on Monday receipts of feeder cattle totaled 3,000 head. Compared to last week, no trend is available in the early rounds due to very limited offerings. Heavy rain and ice across the state hampered livestock movement. Feeder steers medium and large 1 weighing 550 to 600 pounds brought 142.00 to 156.50 per hundredweight. 550 to 6 weight heifers traded at 128.00.

Barrows and gilts in the Iowa/Minnesota direct trade closed .62 higher on Monday at 62.87 weighted average on a carcass basis. Western direct up .38 at 62.65, and nationally the market is .19 higher at 61.90. Missouri direct base carcass meat price was not reported.

The pork carcass cutout value closed .60 lower at 79.94 FOB plant.

It appears that seasonal hog numbers continue to slowly erode forcing packer procurement to use sharper bids.

Monday’s hog slaughter was estimated at 330,000 head, 96,000 less than last week, and down 48,000 from last year.