Market News

Midday cash livestock markets

It is a typical Tuesday in cattle country with bids and asking prices not well defined. Due to the July 4th holiday, the expectation is significant trade volume could develop a little earlier this week. Asking prices are 150.00 plus In the South, and 240.00 plus in the North.

Boxed beef cutouts were mixed in the morning report. Choice beef is down .76 at 252.46, and select is .46 higher at 249.10.

Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled 6500 head. Compared to last week, feeder steers traded mostly steady to 3.00 lower. Heifers were unevenly steady on limited comparable sales from the previous week. Steer and heifer calves were too lightly tested for a market trend, but a mostly steady undertone was noted. Feeder steers medium and large 1 averaging 712 pounds traded at an average of 236.84 per hundredweight. 721 pound heifers averaged 211.38.

Barrows and gilts in the Iowa/Minnesota, Western and Eastern direct trade areas are not reported due to confidentiality. Nationally the market is .61 lower at 72.94. Missouri direct base carcass meat price is steady from 69.00 to 70.00. Barrows and gilts at Midwest markets on a live basis are steady to 1.00 lower from 47.00 to 55.00.

The pork carcass cutout value FOB plant is 1.08 lower at 81.83.

The cash hog trade started on a firm basis on Monday with higher bids generating no greater than moderate receipts. Perhaps the seasonal tendency of tightening live supplies is still in play.

Given the short kill schedule ahead, 150,000 expected on Friday, zero on Saturday, hog buyers could have an easy appetite to satisfy over the next several days.

 

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