Market News

Midday cash livestock markets

The country is very quiet on Monday with both cattle buyers and feedlot operators busy counting heads. Bids and asking prices have yet to be established. Last week’s trade was lower in all areas and was relatively light, coming in with just scattered sales starting on Tuesday. This leaves many packers starting the week very short bought. Northern dressed deals ranged from 251.00 to 157.00, mostly 256.00 to 257.00 and Southern live trade from 159.00 to 160.00, mostly 160.00.

Boxed beef cutout values are lower, with the choice down 1.65 at 252.09, and select is 1.20 lower at 246.03.

Feeder cattle receipts at the Joplin Regional Stockyards today totaled 6,000 head. Compared to last week, all weights of steers are selling 20.00 to 30.00 lower, heifers are selling 8.00 to 25.00 lower. Feeder steers, medium and large 1 weighing 500 to 600 pounds brought 242.50 to 272.50. The same weight heifers are selling from 230.00 to 260.00.

Barrows and gilts in all direct trade areas are not reported due to confidentiality. Missouri direct base carcass meat price is 2.00 lower from 60.00 to 64.00. Midwest hogs on a live basis are steady to 1.00 lower from 42.00 to 50.00.

The pork carcass cutout value is 1.38 higher at 85.76 with only loins and hams lower.

Hog slaughter last week totaled 2.316 million head, up 2.6% from the week before and up 4.6% from the same week last year. This was the biggest slaughter week since the week before Christmas 2013. Further, such data threatens to exceed even the bearish implication of the market hog weight breakdown contained in the December inventory.