Market News
Midday cash livestock markets
The new cattle showlists distributed on Monday are smaller than last week especially in Nebraska and Texas. The country is at a standstill, typical of a Tuesday and significant trade volume is not expected until late in the week. Early asking prices are around 153.00 in the South and 245.00 plus in the North.
Boxed beef cutout Midday cash livestock markets values are lower with the choice down .99 at 246.66, and select is 2.44 lower at 241.68.
Feeder cattle receipts at the Oklahoma National Stockyards on Monday totaled only 2,086 head. Compared to last week feeder steers and heifers sold mostly steady on a very light test. There were not enough steer or heifer calves for an accurate trend. Receipts were light due to the 4th of July holiday falling over the weekend. Feeder steers medium and large 1, calves weighing 673 pounds averaged 232.50 per hundredweight. Feeder heifers averaging 617 pounds traded at 231.15.
Barrows and gilts in the Iowa/Minnesota direct trade are down 3.17 at 73.96 weighted average on a carcass basis, the West is 2.39 lower at 74.02, and nationally the market is 1.58 lower at 73.21. Missouri direct base carcass meat price is steady from 69.00 to 70.00. Midwest hogs are steady on a live basis from 46.00 to 58.00.
The pork carcass cutout value is down .26 at 82.00 in the morning report.
Monday’s cash hog trade served up a bullish combination of higher bids and fairly modest country receipts. Seasonally tighter supplies could be a supporting factor for another four to six weeks.
The pork carcass value surged higher to start the week, gaining $1.27 with all major primals reflecting better demand except the belly.
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