Market News

Midday cash livestock markets

The main item of business in cattle country on Monday is the collection of the new showlists. A light to moderate trade took place on Friday morning in parts of the North at 166.00 to 168.00, pressured by faltering futures these sales were $2.00 to 4.00 lower than the previous week, but futures rallied in the last half hour of trade and feedlot sales came to a screeching halt. A few deals were reported in Kansas at 107.00, $3.00 lower during the evening hours of Friday. But that was it for trade last week. Many packers will be starting out the week very short bought.

Boxed beef cutout values are higher in the morning report. Choice beef 187.09, up .28, and select 180.14 up 1.33.

At the Joplin, Missouri Regional Stockyards today, feeder cattle receipts totaled 4,000 head. Compared to last week, feeder steer and heifer calves opened steady, yearlings were not well tested early. The Demand and supply is moderate. Feeder steers medium and large 1 weighing 650 to 700 pounds traded from 132.00 to 139.00 per hundredweight. The same quality heifers weighing 500 to 550 pounds brought 117.00.

Holstein steer receipts at the monthly Tri County Holstein Auction at Sioux Center, Iowa totaled 2,088 head. A lower undertone from the previous month was noted on all weight groups of steers. The demand was moderate to good, with few load lots offered. Feeder Holstein steers averaging 661 ponds brought 95.15 per hundredweight.

Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. The national hog market is down 1.05 with a weighted average of 49.83 on a carcass basis. Missouri direct base carcass meat price is steady to 3.00 lower from 46.00 to 47.00. Midwest hogs on a live basis are steady to 3.00 lower from 32.00 to 36.00.

The pork carcass cutout value is sharply higher 80.02, up 3.10 FOB Plant. Ribs and loins both significantly higher.

Last week’s hog slaughter totaled 2,466,000 head, up 4.8 percent from the previous week, and 8 percent higher than 2015 and the third largest weekly kill ever. It is remarkably early in the fall for such a huge slaughter number.