Market News

Feeder cattle sell firm to lower

Monday’s cattle trade activity was limited to the distribution of the new showlists. Ideas are feedlots will start out pricing cattle around 136.00 in the South and 210.00 in the North. The market is expected to be steady to 1.00 higher. Monday’s cattle slaughter was estimated at 93,000 head, 16,000 less than last week, and down 5,000 from last year.

Boxed beef cutout values closed lower on choice and steady on select on light to moderate demand and moderate to heavy offerings. Choice beef was down .70 at 215.29, select 212.76, up .17.

The Chicago Mercantile Exchange was closed for the President’s Day observance.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 8.500 head. Compared to last week, feeder steers and heifers were not well tested in the early rounds, a few sales were steady. Steer and heifer calves opened firm with very good demand. Slaughter cattle sold cheaper last week, but remain ahead of the February board. Beef prices also slipped but demand should improve as the Weather warms up for much of the country this week. Feeder steer calves medium and large 1 weighing 550 to 600 pounds traded from 180.0 to 189.00 per hundredweight. Heifer calves weighing 550 to 600 pounds brought 151.00 to 162.00.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards totaled 4,000 head. Compared to last week, steer calves opened 3.00 to 8.00 lower, yearlings steady to 3.00 lower. Feeder heifers opened 3.00 to 5.00 lower, and yearlings were not well tested early. The supply was moderate and demand moderate to good. Feeder steers medium and large 1 weighing 500 to 600 pounds traded from 182.00 to 202.00 per hundredweight. 5 to 6 weight heifers’ brought 146.00 to 163.00.

The Iowa Hay summary for last week reported a colder than expected week pushed livestock producers to continue buying better quality alfalfa and grass for feeding. Lower quality grasses appeared to be moving as a lower cost bedding. Premium small squares of alfalfa grass brought 200.00 to 260.00 a ton, large squares 200.00. Good large rounds at 110.00. Good small squares of grass from 125.00 to 160.00.

Barrows and gilts in the Iowa/Minnesota direct trade closed .72 higher at 64.35 weighted average on a carcass basis, the West was down .20 at 63.40. Nationally the market was .57 higher at 62.96. Missouri direct and Midwest hogs were not reported.

The pork carcass cutout value was up .59 at 76.57 FOB plant.

The Monday hog kill was estimated at 424,000 head, 72,000 more than last week, and 8,000 greater than last year.

 

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