Market News

Midday cash livestock markets

The main item of business in feedlot country on Monday is the collection of the new showlists. A light to moderate trade developed in the South on Wednesday, while the North remained quiet, on Thursday a light trade took place in most areas, and only a few Northern deals were reported on Friday. Live trade in Kansas and Texas ranged from 130.00 to 132.00, the high end of that trade was on Wednesday. Dressed business in the North ranged from 204.00 to 205.00. Many were content with carrying cattle over into this week.

Boxed beef cutout values are mixed. Choice beef is up .20 at 226.16, and select is down .19 at 208.24.

Feeder cattle receipts at the Joplin. Missouri Regional Stockyards totaled 5500 head on Monday. Compared to last week, steers and heifers opened weak to 5.00 lower. Most weights and classes of cattle finding solid bottom side support but early sales struggling to reach last week’s prices. Cattle futures were down hard early in the session. Supply and demand was moderate. Feeder steers medium and large 1 weighing 500 to 600 pounds brought 160.00 to 172.00 per hundredweight. 5 to 6 weight heifers from 139.00 to 143.00.

The Southwest Missouri Show Me Replacement heifer sale had receipts of 291 head last week. All heifers in the sale had met minimum standards for reproductive soundness, pelvic size, body condition and weight. A strict immunization program had been followed including Brucellosis calf hood vaccinated and tested negative for P1 BVD. The sale average for 291 head was $2236.00 which was 625.00 a head less than the May 2015 sale and 241 less than November 2015 sale. The AI bred heifers received a premium of nearly 500.00 per head over the natural bred heifers.

Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Nationally the hog market is down 1.05 at 73.62 weighted average on a carcass basis. Missouri direct base carcass meat price is steady to 1.00 higher from 64.00 to 69.00. Midwest hogs on a live basis are steady from 47.00 to 60.00.

The pork carcass cutout value is up .92 at 89.32.

The most recent retail pork data suggests that bacon demand remains very strong. The average price of bacon in grocery stores last month was $5.61 per pound, up over .11 from March, and .40 higher than April 2015. Given the traditional sizzle of bacon demand through the summer, this bodes well for decent carcass strength over the next several months.