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Monday midday cash livestock markets

As is usual for a Monday, direct cash cattle markets are quiet. Late last week, processing margins were helped out by lower live trade and strength in boxed beef but packers still continue to see a lot of red ink. This week’s showlists look larger due to last week’s fairly small trade and the bigger midsummer placements. Asking prices are around $124 to $125 Live in the South and $198+ Dressed in the North.

According to USDA, negotiated trade Friday in the Southern Plains was light on light to moderate demand with Texas at $122.50, Kansas mostly at $122 with a few up to $123. In Nebraska, activity was active on moderate demand with live trade mainly at $123 to $123.50, with a few up to $124, and dressed activity at $196. Colorado saw limited trade at $123.50 to $124 Live. Western Cornbelt trade and demand were both called moderate with live activity at $123 to $124 and dressed sales at $196.

At Oklahoma City Monday, feeder steers and heifers opened steady with steer calves steady to $2 higher and heifer calves $3 to $5 higher. Demand was moderate for feeder cattle and good for calves. 500 to 600 pound Medium and Large 1 feeder steers sold at $150 to $160.50 and 500 to 575 pound Medium and Large 1 heifers ranged from $136 to $145.50. Estimated receipts were 5,800 head, compared to 8,869 a week ago and 6,781 a year ago.

Boxed beef cutout values at midday were mixed with Choice up $1.29 at $196.41 and Select down $.72 at $177.85.

Monday’s slaughter is estimated at 128,000 head which would be up on the week and down on the year.

Butcher hogs at the terminal markets are steady in the early going with tops at $57 to $58. Trade may be fairly quiet in the early rounds as packers assess their needs for this holiday shortened week. A few packers may already be covered but we’ll see what happens as the day goes on.

Illinois Direct sows are mostly steady to $1 lower at $48 to $58 with a few up to $60 with USDA noting light demand and moderate to heavy offerings. Missouri Direct butcher trade is steady at $78 with sows steady to $1 lower at $49 to $58 on light to moderate supply and demand.

In the opening report, the Eastern Cornbelt was down $.67 with a weighted average of $78.47, the Western Belt was up $.44 at $80.50, and Iowa/Southern Minnesota was $.49 higher at $80.51.

Pork trade at midday was slow with light to moderate demand and offerings.

Today’s kill is estimated at 429,000 head which would be down slightly on both the week and the year.