Market News

Monday midday cash livestock markets

The main item of business in cattle country on Monday is the distribution of the new showlists. On Friday USDA Mandatory reported cattle trading was light on Moderate demand in Kansas with live sales at 173.00. Trading in the Northern Plains and Iowa was moderate on very good demand with live sales in Nebraska from 172.00 to 174.00 and dressed sales 267.00 to 268.00. There were a few live sales in Iowa from 170.00 to 172.00, and a few dressed sales at 268.00.

Boxed beef cutout values are higher with the choice up 1.18 at 256.40 and select was .25 higher at 242.18.

Feeder cattle receipts at the Joplin, MO Regional Stockyards totaled 8,000 head today. Compared to last week, steer and heifer calves under 550 pounds were 5.00 to 10.00 higher, heifer calves over 550 pounds and yearlings were steady to 3.00 higher. The demand was good on a heavy supply. Feeder steers, medium and large 1 weighing 500 to 600 pounds brought 272.00 to 291.00. 5 to 6 weight heifers traded at 230.00 to 260.00 per hundredweight.

Barrows and gilts in the Iowa/Minnesota and Western direct trade are not reported due to confidentiality. Nationally the direct market is 1.28 lower with a weighted average of 83.83 on a carcass basis. Eastern hogs are .46 lower at 83.63. Missouri direct base carcass meat price is steady to 1.00 lower from 77.00 to 80.00. Barrows and gilts on a live basis at Midwest markets are fully steady from 61.50 to 66.00.

The pork carcass cutout value is .26 higher FOB plant. Only the belly primal was lower by over 3.00.

Sow slaughter was 260,000 head in October, down 5.1% compared with a year ago. In the last six months, sow slaughter has declined 86,000 head, off 5.8% from the same period in 2013, hard data supporting ideas that pork producers are serious about expanding the production base.