Market News

Midday cash livestock markets

Private sources are reporting a few more bids on the cattle at midday from 159.00 to 161.00 in the South, and 159.00 live and 255.00 to 260.00 dressed in the North. Feedlot managers continue to price cattle on a firm basis from 165.00 to 166.00 in the South, and 265.00 plus in the North.

Boxed beef cutout values in the midday report are firm to significantly lower. Choice beef is down 2.69 at 257.69, and select is .48 higher at 251.45.

Feeder cattle receipts at Missouri auctions this week totaled 41,368 head. Compared to last week, most feeders under 600 pounds sold mostly steady to 5.00 lower with spots of 5.00 to 10.00 lower. There were some instances of feather weight high quality calves which sold steady to 5.00 higher. Most of these were bought by local producers looking to finish filling their summer pastures. Yearling cattle were mostly steady to 3.00 higher. Feeder steers medium and large 1 averaging 624 pounds traded at 258.27 per hundredweight. 624 pound heifers brought 238.08.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade are not reported due to confidentiality. Western hogs are 1.36 lower with a weighted average of 61.37 on a carcass basis, nationally the market is .95 lower at 61.19. The Missouri direct base carcass meat price is steady from 50.00 to 59.00. Midwest hogs are steady in a light test from 40.00 to 46.00 live.

The pork carcass cutout value is .49 higher FOB plant at 66.53.

It sounds like retailers are stepping up and aggressively featuring pork, a strategy that reflects both abundant wholesale supplies and attractive margins.