Market News

Monday midday cash livestock markets

The confirmed cash cattle business was extremely light last week. Light to moderate business developed on Friday in parts of the North at 248.00 dressed, about $4.00 higher than the previous week’s weighted average Nebraska. There were also reports of a few cattle selling in the North at 159.00. There were no reports of Southern business so it is assumed most deals were formulated one way or another. New showlists being distributed today should be generally larger due to unsold cattle being carried over from last week.

Boxed beef cutout values were higher in the morning report. Choice beef is up .71 at 238.37, and select is 1.90 higher at 227.38.

At the Joplin, Missouri Regional Stockyards today receipts total 5,000 feeder cattle. Compared to the previous week, steer and heifer calves, and a light test of yearlings are steady. Demand is good for a moderate supply. Feeder steers, medium and large 1 weighing 500 to 535 pounds traded from 260.00 to 280.00. 500 to 570 pound heifers brought 239.00 to 242.00.

Barrows and gilts in the Iowa/Minnesota. Western, and Eastern direct trade areas are not reported due to confidentiality. Nationally the market is 4.84 lower with a weighted average of 101.82 on a carcass basis. Missouri direct base carcass meat price is steady to 1.00 higher from 95.00 to 101.00. Midwest hogs are lightly tested at steady to higher prices from 74.00 to 77.00 live.

The pork carcass cutout value was up 1.83 at 120.46.

The expectation of additional growth through the industry is pegged at 4% increased farrowing intentions in both the fourth quarter of 2014 and the first quarter of 2015. Lower feed costs are likely to keep producers aggressively focused on more numbers over the next six months.