Market News

Midday cash livestock markets

The activity in cattle country on Monday is limited to the distribution of the new showlists. Last Weeks’s trade took place mostly on Wednesday with a little cleanup trade on Thursday and Friday. It started in the South with live trade ranging from 124.00 to 125.00, mostly 125.00 generally 5.00 higher than the previous week. Northern dressed business ranged from 195.00 to 197.00, mostly 196.00, mostly 4.00 to 5.00 higher than the previous week’s weighted average basis Nebraska.

Boxed beef cutout values are higher in the morning report. Choice beef 201.06, up 2.10, select 197.09, up 1.61.

Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 5,000 head. Compared to last week steer and heifer calves were steady, yearlings trended 2.00 to 3.00 lower on a light early test. The demand was moderate to good on a moderate supply. Feeder steers medium and large 1 weighing 600 to 650 pounds brought 135.00 to 147.00 per hundredweight. 600 to 650 pound heifers traded from 125.00 to 128.00

Receipts of feeder cattle at the Herreid Livestock Market at Herreid, South Dakota totaled 5741 head last week. Compared to the previous week, feeder steers trended steady to 3.00 lower. Heifers were mostly steady. There was a moderate to good demand for the offering with very good demand for light fleshed, light weight cattle suitable for grass and for several strings of fancy home raised Charolais cattle.  Feeder steers medium and large 1 averaging 724 pounds brought 131.82 per hundredweight. 713 pound heifers averaged 120.18.

Barrows and gilts in the Iowa/Minnesota direct trade are 2.21 lower at 66.54 weighted average on a carcass basis, the West is 2.06 lower at 66.71, and nationally the market is down 1.52 at 67.05. Missouri direct base carcass meat price is 1.00 to 2.00 lower from 62.00 to 63.00. Midwest hogs on a live basis are a 1.00 lower to 2.00 higher from 45.00 to 52.00.

The pork carcass cutout value 81.16 in the morning report .75 lower FOB plant.

A crack in pork demand surfaced last week in the belly complex as prices plunged midweek taking with it the cutout value and lean hog futures. The sharp break did shift the short term market trend in lean futures into a bearish pattern while the longer term trend is now neutral or best, according to DTN analysts.

The changing weather conditions in Iowa last week brought with it an unsettled hay market. Spring like temperatures early in the week were welcomed by many, but a snow storm late in the week made buyers cautious for hay as well. Large bales continue to be more available than small bales. Premium small squares of alfalfa brought 150.00 to 180.00 per ton. Good large squares of alfalfa/grass brought 80.00 to 135.00 per ton