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Midday cash livestock markets

Direct cash cattle markets are quiet, with widespread business not expected until at least after the Fed Cattle Exchange event Wednesday. Packer inquiry is pretty much non-existent and asking prices are poorly defined, but expected to start out around $122 on the live basis in the South and $192 dressed in the North. This week’s showlist looks larger in most of the major feeding areas, except for Texas, which has a smaller offering.

Boxed beef at midday was mixed with Choice down $.20 at $207.26 and Select up $1.44 at $199.33.

Monday, at the Joplin Regional Stockyards feeder cattle sale in Missouri, compared to last week, steer calves were steady, with 550 to 650 pounders firm to $3 higher. Heifer calves and yearlings were steady to $3 lower. The USDA says demand was moderate for a light supply. 56% of the offering were steers and 68% of the total supply weighed more than 600 pounds. Medium and Large 1 600 to 700 pound feeder steers sold at $150 to $169, with calves at $146 to $167, and 700 to 800 pound steers were reported at $142.50 to $151, with calves at $137 to $143. Medium and Large 1 feeder heifers weighing 500 to 600 pounds brought $135.50 to $151 and 600 to 700 pound heifers ranged from $134.50 to $146, with 632 pound calves at $132.50.

Cash hogs are mostly steady to lower. Buyers are watching for seasonal changes in market ready numbers and wholesale demand. Monday’s negotiated numbers were a little light, so packers may eventually have to increase bids, but for now, they’ll continue their efforts to move the needed numbers at reduced prices.

Western Cornbelt direct barrows and gilts opened $.58 lower at $77 to $83.74 for a weighted average of $82.31 and national direct business is down $.91 at $77 to $83.74 with an average of $81.48. The Iowa/Southern Minnesota and the Eastern Cornbelt direct markets were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $54 to $66. Missouri direct butcher trade is $1 to $3 lower at $78 on light to moderate supply and demand. Sows are steady to $2 higher at $54 to $66. Illinois direct sows are $2 higher with very good demand for heavy offerings. Barrows and gilts are $3 lower at $54 to $59 on good demand for moderate offerings. Boars range from $10 to $38.

Pork at midday was $1.53 higher at $103.74. Hams were down a penny, all the other primals were sharply higher, including a $5.10 jump in ribs.

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