Market News

Tuesday midday cash livestock markets

It will be a sleepy session in cattle country today with bids and asking prices poorly defined. A few showlists have been priced around 157.00 to 158.00 in the South, and 248.00 to 250.00 in the North. New showlists are smaller in Texas, Nebraska and Colorado. On the other hand, the Kansas offering is definitely larger. Overall, fed numbers seem to be a bit smaller and generally manageable.

Boxed beef cutout values are lower in the morning report. Choice beef is down .97 at 254.13, and select is .68 lower at 245.89.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 4691 head. Compared to last week, feeder steers and heifers were steady to 4.00 higher. Steer and heifer calves mostly 4.00 to 6.00 higher. Demand was moderate to good and improved some from last week. Cattle futures beginning to show some positive signs again as limited cattle numbers continue to drive demand. Quality was plain to average. Feeder steers medium and large 1 averaging 771 pounds brought 220.49 per hundredweight. 688 pound heifers averaged 214.65.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. The West is 1.75 lower at 100.50 weighted average on a carcass basis. Nationally the market is 1.11 lower at 100.38. Missouri direct base carcass meat price is 2.00 to 3.00 lower from 95.00 to 98.00. Hogs at Midwest markets are steady to an instance of 3.00 lower from 67.00 to 80.00.

The pork carcass value is down 1.05 FOB plant at 109.97.

The cash hog market continues to drop like a stone. Yesterday’s late rally in lean futures hardly altered the technical profile and probably amounted to no more than piecemeal profit taking.

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