Market News

Tuesday midday livestock market

Cattle country is quiet with bids and asking prices not well defined, a few steers and heifers in the South have been rumored to be priced around 135.00 according to DTN. Understandably feedlot operators don’t want to price cattle too cheaply, hoping another big jump in price like that seen last week is waiting in the wings.

Boxed beef cutouts are sharply higher in the morning report, choice is up 2.63 at 207.93, and select is 4.16 higher at 203.38.

Feeder cattle receipts at the Oklahoma National Stockyards totaled 7,100 head. Compared to last week, feeder steers and heifers were mostly 7.00 to 12.00 higher. Steer calves mostly 15.00 to 20.00 higher, heifer calves under 500 pounds traded 8.00 to 10.00 higher Heifer calves over 500 pounds not well tested. Demand was very good for all classes as buyers were enthused by the strong rally on the CME board last week. Feeder steers medium and large 1 averaging 666 pounds averaged 197.86 per hundredweight. 625 pound heifers brought 194.21.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western barrows and gilts are .98 higher at 71.64 weighted average on a carcass basis, nationally the market is.59 higher at 70.62. Midwest markets on a live basis are fully steady from 47.00 to 55.00.

The pork carcass cutout value is down 1.17 FOB plant.

Lean hog futures began the week modestly higher, supported in part by expectations that domestic and export demand for pork will be good through the end of the year.