Market News

Midday cash livestock markets

Bids and asking prices on the cattle are not well defined on Tuesday. Best early guesses are that some steers and heifers will be priced around 130.00 in the South and 212.00 to 214.00 in the North. Though new showlists distributed on Monday looked mixed in size, larger in the South, smaller in the North, the overall offerings appear to be greater than last week. Significant trade volume will probably be delayed until Wednesday or later.

Boxed beef cutout values are higher in the morning report. Choice 224.90 up 1.14, select 216.09, up 2.12.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 6,574 head. Compared to last week, calves under 500 pounds were steady to 5.00 higher, 500 to 600 pounds steady, heifer calves under 500 pounds steady to 4.00 higher, 500 to 600 pounds 5.00 higher. Yearling steers steady to 5.00 higher, yearling heifers were steady. Demand was good on a moderate supply. Grazing prospects and higher slaughter cattle prices giving strength to the stocker and feeder cattle trade. Feeder steers medium and large 1 averaging 623 pounds averaged 151.49 per hundredweight. Feeder heifers weighing 618 pounds averaged 127.93.

Feeder cattle receipts at the Oklahoma National Stockyards totaled 6700 head on Monday. Feeder steers and heifers traded mostly steady to 3.00 higher. Steer and heifer calves trading on a limited test, except for the heavier calves bringing 2.00 to 3.00 higher. Demand for both feeder cattle and calves remains moderate to good especially for heavier feeder cattle that require less time in the feed yards. Feeder steers medium and large 1 averaging 667 pounds brought 140.65 per hundredweight. 667 pound heifers traded at an average of 129.68.

Barrows and gilts in the Iowa/Minnesota direct trade are .39 higher at 67.03 weighted average on a carcass basis, the West is up .40 at 66.90, and nationally the market is .37 lower at 65.53. Missouri direct base carcass meat price is steady from 58.00 to 60.00.

The pork carcass cutout value is down .36 at 81.10 FOB plant.

Monday’s hog trade was a bit surprising in the way it sported a firm undertone. Perhaps buyers sense numbers tightening a bit over the next several weeks.