Market News

Midday cash livestock markets

Packers may be very short bought on cattle, but they are not moving very fast to make offers on this week’s showlists. It is typical of a Tuesday and bids and asking prices are not well defined. Significant trade is not expected before Wednesday or later.

Boxed beef cutout values are lower and choice boxes are down .09 at 205.56, select is 1.08 lower at 193.78.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards totaled 2950 head on Monday. Compared to last week, steer calves traded steady to 5.00 lower, heifer calves and yearlings were 5.00 to 8.00 lower. Demand was moderate to light on a light supply. The wet weather across the central U.S. has curtailed feeder cattle demand as backgrounders and feedlots are dealing with either ice or mud Feeder cattle contracts on Monday were sharply lower. Feeder steers medium and large 1 averaging 524 pounds brought 195.87 per hundredweight. 661 pound heifers traded at an average of 162.19.

At the Rock Valley, Iowa hay auction receipts totaled 53 loads. It was a generally steady market. Prices are dollars per ton. All sales FOB Rock Valley Iowa vicinity. Large squares and rounds of premium alfalfa brought 170.00 to 175.00 a ton. Large rounds of premium grass sold for 120.00 to 130.00 a ton.

The Arthur, Illinois, sheep and goat sale had receipts of 126 head on Monday. Compared to last week, slaughter lambs were 4.00 to 8.00 higher. Slaughter kids traded 10.00 to 15.00 lower. 136 pound slaughter lambs brought 155.00 per hundredweight. Selection 1, Boer Cross slaughter kids weighing 115 pounds traded at 180.00 per head.

Barrows and gilts in the three major direct trade areas are not reported due to confidentiality. Nationally the direct market is down 2.00 at 49.33 weighted average on a carcass basis. Missouri direct base carcass meat price is steady at 43.00. Midwest hogs on a live basis are fully steady from 28.00 to 36.00.

The pork carcass cutout value is up .23 in the morning report at 74.13 FOB plant. Bellies are up 5.41, and other primal cuts are steady to lower.

The pork carcass value returned from the holiday showing significant strength, jumping $1.50 on Monday, supported by better demand for all primals except the butt.

It may be too early to assume that hog and pork fundamentals are turning around, ready to consistently support recovering prices through the end of the year.