Market News

Midday cash livestock markets

The main item of business in cattle country on Monday is the collection of the new showlists. This week’s offering should be near steady to somewhat larger than last week. Private sources are reporting a few asking prices around 153.00 in the South and 245.00 plus in the North. Packers and feedlot operators are anxious to get a good read on meat movement over the holiday weekend.

Boxed beef cutout values are starting the week sharply lower. Choice beef is down 2.16 at 247.96, and select is 2.79 lower at 245.26.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled just 3,000 head. Compared to last week, steers and heifers opened weak to 3.00 lower. Demand was moderate and the supply was moderate to light. Feeder steers medium and large 1 weighing 600 to 700 pounds traded from 227.00 to 266.00 per hundredweight. Feeder heifers weighting 600 to 700 pounds brought 206.00 to 230.00.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western hogs are 1.68 lower with a weighted average of 73.57 on a carcass basis, the national market is down 1.42 at 72.60. Missouri direct base carcass meat price is steady from 69.00 to 70.00. Midwest hogs on a live basis are not well tested with just a couple of markets reporting steady prices with a top of 58.00.

The pork carcass cutout value FOB plant is up 1.61 at 82.60 FOB plant.

From Thursday to Thursday, the pork carcass value lost $1.65, especially pressured by a $12 break in the rib primals. Processing margins will start the post-holiday period on the defensive.