Market News

Monday midday cash livestock markets

It is a typical Monday in cattle country with the main item of business the distribution of the new showlists. Bids and asking prices are not fully established so far today. Last week’s business exploded on Thursday and Friday with some Northern dressed trade and Southern live deals as much as 10.00 higher than the previous week’s trade.

Boxed beef cutouts are significantly higher in the morning g report. Choice beef is up 1.39 at 258.77, and select is up 1.71 at 256.04.

Feeder cattle receipts at the Joplin Regional Stockyards today totaled 4,000 head. Compared to last week, steer and heifer calves were firm to 5.00 higher. 600 to 700 pound yearling steers were 10.00 to 15.00 higher. Demand was good and the supply was moderate. Feeder steers, medium and large 1 weighing 500 to 600 pounds traded from 250.00 to 277.50. 5 to 6 weight heifers brought 232.00 to 236.00.

Barrows and gilts in the Iowa/Minnesota direct trade opened 3.54 lower at 121.83 weighted average on a carcass basis, the West is down 3.36 at 121.84, and the East is 1.28 lower at 121.14. The Missouri direct base carcass meat price is steady to 4.00 lower from 116.00 to 118.00. Barrows and gilts at Midwest markets are steady to 4.00 lower from 86.00 to 95.00.

The pork carcass cutout value is up 1.73 at 133.52 FOB plant.

The recent combination of sharply higher beef prices and significantly lower pork prices should soon cause retailers and food managers to “wake up” to the superior value and featuring opportunity of pork.

From Friday to Friday, the pork carcass value collapsed by $5.77, especially hammered by a $23.14 implosion in the belly primal. While tomatoes may still be slow in ripening, it would appear bacon and lettuce supplies must be more than abundant.

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