Market News

Midday cash livestock market

The main item of business in cattle country on Monday is the collection of the new showlists. A light to moderate trade took place last week with dressed business in a range of 173.00 to 175.00, steady to 2.00 higher than the previous week’s weighted average basis Nebraska. Live Southern deals ranged from 114.00 to 115.00, generally 3.00 to 4.00 higher than the previous week’s weighted average. Significant business is not expected until later in the week.

Boxed beef cutouts in the morning report are .79 higher on choice at 190.51, select 173.31, up .61.

At the Joplin, Missouri Regional Stockyards on Monday receipts totaled 8,000 head. Compared to last week, steer and heifer calves were steady to 3.00 lower, yearlings were not well tested early, and the undertone was lower. The demand was moderate on a heavy supply. Feeder steers medium and large 1 weighing 550 to 600 pounds brought 129.00 to 147.00 per hundredweight. Feeder heifers weighing 550 to 600 pounds traded from 125.00 to 134.00.

Lexington Livestock at Lexington, Nebraska had cattle receipts of 4400 head on Friday. Compared to two weeks ago, steers under 500 pounds sold 8.00 higher, 500 to 700 pound steers were steady to 4.00 higher and steers over 700 pounds were steady to 3.00 lower on comparable offerings. Heifers sold steady to 4.00 higher. Demand was good from the buyers in the crowd with internet activity noted. Feeder steers medium and large 1 averaging 568 pounds brought 142.41 per hundredweight. 566 pound heifers traded at 128.00.

Direct trade hog reports are delayed due to packer submission problems. Midwest hogs on a live basis are steady to 4.00 higher from 25.00 to 36.00.

The fact that last week’s cash hog trade managed to jump nearly $6.00 on a lean basis in the face of another round of record slaughter is a good indication that margin happy processors smell a change in the wind.

 

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