Market News

Midday cash livestock markets

Direct cash cattle trade is quiet with just a few bids reported at $106 in Texas.  Early guesses are that asking prices will start around $112 in the South and $177 plus in the North.  However – significant trade volume is still anticipated to not pick up until Wednesday – or later.  The Fed Cattle Exchange is tomorrow and the USDA releases its latest Cattle on Feed report on Friday.

Boxed beef cutouts are firm to higher at the Midday with light to moderate box movement.  Choice is up $.73 at $193.82 and Select is up $.01 at $191.63.

At the Joplin Regional Stockyards in Missouri, receipts were down almost 300 head from last week and more than 1,000 from a year ago.  Compared to last week steers were steady to $3.00 higher and heifers were steady compared to last week’s light trade.  The USDA says the demand was moderate to good and supply was moderate.  Steers accounted for more than 50 percent of the feeder cattle supply and more than 50 percent of the offering were over 600 pounds.  Medium and Large 1 steers 500 to 700 pounds were $140.00 to $159.00 and Medium and Large 1 steers 800 to 900 pounds were $138.00 to $144.50.  Medium and Large 1 heifers 600 to 700 pounds are $138.00 to $143.00 and Medium and Large 1 heifers 700 to 800 pounds were $130.00 to $136.00.

Cash hogs are lower at the midday.  Barrows and gilts at the Iowa/Southern Minnesota are $.96 lower with a range of $67 to $71.50 and a weighted average of $70.60; the Western Corn Belt was $1.06 lower with a range of $67 to $71.50 and an average of $70.48; the Eastern Corn Belt was not reported due to confidentiality; at the National Daily Direct trade was $1.36 lower with a range of $67.00 to $71.50 and an average of $70.36.

Butcher hogs at the Midwest cash markets are steady at $48 to $50.

At the Interior Missouri Direct trade was $1 to $7 lower compared to Friday’s close at $64 to $68.  The USDA says supply and demand are light to moderate.  Sows are $1 to $5 lower at $53 to $68

At Illinois, sows are $3 lower at $53 to $67 with light to moderate demand for moderate offerings.  Barrows and gilts are $3 lower at $46 to $51 with moderate demand for moderate offerings.

Pork cutout is sharply lower at the midday.  Down $2.43 at $88.13 pressured by the $17.50 decline in the belly.