Market News

Midday cash livestock markets

Business in cattle country on Monday is limited to the collection of the new showlists. Bids and asking prices are not well-defined at this point in time. The cost of live cattle is accelerating at a faster rate than the beef carcass value. Gross packer margins will start out the week around $153.00, the smallest since late march. Further narrowing may necessitate the slowing of chain speed, according to DTN.

Boxed beef cutout values are mixed, choice 217.87, up .71, and select 203.12, down .17.

The Joplin, Missouri Regional Stockyards on Monday had receipts of 3,543 cattle. Compared to last week, steer and heifer calves are steady, yearlings are not well tested. Demand is good on a light supply. Feeder steers medium and large 1 weighing 600 to 650 pounds brought 154.00 per hundredweight. 600 to 650 pound heifers traded at 144.00.

Superior Livestock Video Auction on April 21 had 49,500 cattle listed. Compared to the previous sale April 6^th, feeder steers were 9.00 to 10.00 higher, feeder heifers 2.00 to 6.00 higher. The bulk of the calves sold in the east and most for far out delivery. The demand was good for all classes. In the Southcentral States feeder steers medium and large 1 864 pound steers for May delivery brought 135.50. 525 pound heifers for current delivery brought 157.35. In the North central States feeder steers weighing 635 pounds for December delivery brought 155.00 per hundredweight. 600 pound heifers for December delivery 144.25.

Barrows and gilts in the Iowa/Minnesota direct trade are .80 lower, the West is down .66 with both at 52.76 weighted average on a carcass basis. Nationally the market is down .39 at 53.10. Missouri direct base carcass meat price is steady from 47.00 to 49.00. Midwest hogs on a live basis are steady to 1.00 lower from 34.00 to 36.00.

The pork carcass cutout value is up .95 at 76.42 FOB plant. All primal cuts are higher.

Live hog weights should be very close to a seasonal top as producers anticipate a price top in late April or early May. Once the top is in, weights should consistently drop from late spring through mid-August.