Market News

Midday cash livestock markets

The new cattle showlists distributed on Monday look generally smaller with only Nebraska offering a few more ready steers and heifers. Bids and asking prices are not well defined, but best early guesses are asking prices will start out around 123.00 in the South, and 192.00 to 194.00 in the North.

Boxed beef cutout values are firm to higher on Tuesday. Choice beef is up .81 at 191.72, and select is .06 higher at 190.46.

At the Joplin Regional Stockyards on Saturday there was a special cow and bull auction with receipts of 1157 head. There was a moderate number of buyers on hand. The sale opened with a consignment of Simmental, Angus and Simmental-Angus bulls. Some of the bulls were Show-Me-Select qualified. Another consignment of Horned Hereford bulls preceded the replacement cow sale. Replacement bulls medium and large 1, one and a half to two years old weighing 1090 to 1475 pounds brought $2300.00 to 3800.00 with some $4000.00 to 5250.00. Bred cows medium and large 1, aged 3 to 7 years, second and third stage weighing 1135 to 1340 pounds traded from $14500 to 1675.00

Feeder cattle receipts at the Russell, Iowa Feeder Cattle Auction totaled 4140 head on Monday. Compared to the sale last week, feeder steers under 650 pounds mostly 4.00 to 5.00 higher, feeder steers over 650 pounds mostly 1.00 to 2.00 higher, and feeder heifers under 600 pounds mostly 2.00 to 4.00 higher, feeder heifers weighing over 600 pounds mostly 1.00 to 2.00 lower. The trade was active with good demand. Feeder steer calves medium and large 1 averaging 677 pounds brought 143.23peer hundredweight. Heifer calves weighing 684 pounds brought 122.25.

There were 31 loads of hay at the Rock Valley, Iowa Hay Auction on Monday. Compared to last week, the market was sharply lower with quality average to poor. Fair large squares of alfalfa brought 77.50 per ton. Large rounds traded from80.00 to 82.50 per ton. Alfalfa/grass mix, good large rounds at 90.00. Large squares of straw brought 55.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.26 lower at 72.95 weighted average on a carcass basis, the West is down 1.23 at 72.86, and nationally the hog market is 1.95 lower at 72.00. Missouri direct base carcass meat price is steady to 1.00 higher from 63.00 to 64.00. Midwest hogs on a live basis are steady to 2.00 higher from 46.00 to 52.00.

The pork carcass cutout value is .57 higher at 86.03 FOB the plant in the morning report.

The spread between cash hog prices and the cutout is narrowing and swings in the cutout value will now have more of an impact in the country trade, according to John Harrington at DTN.