Market News

Midday cash livestock markets

The new showlists distributed on Monday in feedlot country looked mostly smaller with only Colorado beef producers offering more ready steers and heifers. Bids and asking prices not well-defined. A few early guesses are that some showlists will start out being priced around 132.00 to 133.00 in the South and 215.00 in the North.

Boxed beef cutout values are higher in the morning report. Choice beef 220.20, up .29, select 214.42, up .80.

Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 4,799 head. Compared to last week steer calves were steady to 5.00 lower, heifer calves steady to 5.00 higher, yearlings steady to 2.00 higher. The demand was moderate to good, the supply was moderate to light. A higher percentage of un-weaned fall calves in the offering. Much needed rain fell across the trade area with more in the forecast. Feeder steers medium and large 1 weighing 825 pounds averaged 129.24. 677 pound heifers brought 130.60 per hundredweight.

Sioux Falls Regional Livestock at Worthing, South Dakota had receipts of 5867 cattle on Monday. Feeder steers traded steady to 6.00 higher with instances of 8.00 to 10.00 higher on 700 to 750 weights. Feeder heifers steady to 5.00 higher. Demand was good to very good on an active market. Both farmer feeders and order buyers were looking to get cattle bought yesterday. Feeder steers medium and large 1 averaging 660 pounds brought 153.93 per hundredweight. 675 pound heifers at 134.63.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.79 lower at 62.04 weighted average on a carcass basis, the West is down 1.49 at 62.28, and nationally the market is .32 lower at 63.38. Missouri direct base carcass meat price is steady to 3.00 lower from 53.00 to 58.00. Midwest hogs on a live basis are steady to 1.00 lower from 40.00 to 48.00.

The pork carcass cutout value is up .64 at 79.12 FOB plant.

The USDA will release the March 1 Hogs and Pigs inventory on Thursday, and it will probably confirm record large numbers in every category of the report. The total inventory could be up 5% or more and the winter pig crop will likely be 4% larger, according to DTN.