Market News

Midday cash livestock markets

The main item of business in cattle country on Monday is the collection of the new showlists. A light to moderate trade volume was evident in most areas of cattle feeding country Friday. Yet the best market test developed in the South with live sales at 110.00, $5.00 lower than the previous week. Some dressed business surfaced in parts of the North at 170.00, steady with Thursday’s light trade, but $5.00 lower than the previous week. Some packers reportedly have started the week short bought.

Boxed beef cutout values in the morning report are significantly higher. Choice beef is up 1.29 at 190.23, and select 174.41, up 2.73.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards on Monday totaled 7,599 head. Compared to last week, steer and heifer calves are steady, except 500 pound steers, steady to 2.00 higher, yearlings were not tested in the early rounds. The demand was moderate to good on a heavy supply. Feeder steers medium and large 1 weighing 550 to 600 pounds traded at 131.00 to 139.00 per hundredweight. 550 to 600 weight heifers brought brought120.00 to 125.00.

Ft. Pierre, South Dakota Livestock Auction had receipts of 6790 feeder cattle on Friday. Compared to last week steer calves were steady to 10.00 higher with some up to 15.00 higher. Heifer calves were 3.00 to 10.00 higher. The demand was good to very good for a large offering of attractive quality calves. Feeder steer calves medium and large 1 averaging 611 pounds brought 156.97 per hundredweight. 613 pound heifer calves brought 130.75.

Barrows and gilts in the Iowa/Minnesota direct trade are .92 higher at 53.85 weighted average on a carcass basis, the West is .94 higher at 53.84, and nationally the market is up .58 at 53.30. Missouri direct base carcass meat price is steady at 40.00. Midwest hogs on a live basis are steady from 25.00 to 40.00.

The pork carcass cutout value is up .91 at 76.72 FOB plant.

Although pork processing margins have narrowed since Thanksgiving thanks to the rising cost of live inventory, packers have still enjoyed good luck in forcing carcass values higher. From Friday to Friday, the pork carcass cutout value advanced by $1.16, Processing margins remain extraordinarily generous with carcass value nearly $20.00 above the cash index.