Market News

Midday cash livestock markets

It is a typical Tuesday in cattle country with bids and asking prices few and far between, DTN is reporting they have heard of a few cattle being priced around 130.00 in parts of the South. Significant trade volume will more than likely be delayed until Wednesday or later.

Boxed beef cutout values are higher in the morning report. Choice beef is up 1.61 at 215.74, and select is up 2.53 at 203.31.

The Oklahoma National Stockyards feeder cattle receipts totaled 6,000 head on Monday. Compared to last week, feeder steers and heifers traded 2.00 to 5.00 higher. Steer calves sold 4.00 to 5.00 higher and heifer calves were 1.00 higher on limited offerings. The demand was moderate to good. The quality mostly average. Rain over the weekend hampered livestock movement. Feeder steers medium and large 1 weighing 686 pound averaged 149.43 per hundredweight. 778 pound heifers brought 127.38.

Joplin, Missouri Regional Stockyards had receipts of 4,000 head on Monday. Compared to last week, steer heifer calves 3.00 to 10.00 higher, yearlings 2.00 to 6.00 higher. Demand was good on a light supply. Rain showers, higher fed cattle and higher futures trade continue to stimulate the feeder cattle market. Feeder steers medium and large 1 weighing 738 pounds averaged 146.35 per hundredweight. Feeder heifers 676 pounds traded at 135.55.

Barrows and gilts in the Iowa/Minnesota direct trade are .04 higher at 56.05 weighted average on a carcass basis, the West is up .04 at 56.03, and nationally the market is .22 lower at 55.30. Missouri direct base carcass meat price is steady from 49.00 to 50.00. Midwest hogs on a live basis are steady from 35.00 to 36.00.

The pork carcass cutout value is 1.90 higher at 76.86 FOB plant. Everything except picnics are higher.

Packer demand for hogs will increase when the margins improve enough to turn the cash light green, and clearly they are not there yet.