Market News

Midday cash livestock markets

Bids and asking prices in the feedlot cattle trade are not established as of yet. Although some are saying feedlot managers may start out pricing steers and heifers around 130.00 in the South and 210.00 plus in the North. Beef cutouts continued to reflect faltering early spring demand. The select box got hit hard on Monday at the lowest level seen since February 27.

Boxed beef cutout values showed some recovery in the morning report. Choice beef was up 1.30 at 214.73, select 202.96 up 1.61.

Feeder cattle receipts at Russell, Iowa on Monday totaled 6129 head. Compared to two weeks ago, feeder steers under 450 pounds were mostly 2.00 to 4.00 lower, steers over 450 were mostly 6.00 higher. Feeder heifers weighing less than 550 pounds were mostly 2.00 to 4.00 lower, heifers over 550 pounds generally 3.00 to 4.00 higher. Trade was active with very good demand. Feeder steers medium and large 1 averaging 727 pounds brought 145.82 per hundredweight. 737 pound replacement heifers averaged 142.17.

Feeder cattle receipts at the Joplin, Missouri Regional Stockyards totaled 4,044 head on Monday. Compared to last week, steer and heifer calves trended steady, with the exception of fleshy, un-weaned calves steady to 5.00 lower. Yearling feeders were steady to 3.00 higher. The demand was moderate to good on a light supply. Feeder steers medium and large 1 averaging 660 pounds brought 149.53 per hundredweight. 618 pound heifers at 135.38.

Loup City Commission Company, Loup City, Nebraska had receipts of 365 sheep and goats on Saturday. Compared to last month, slaughter lambs sold 10.00 to 15.00 higher and slaughter ewes were 15.00 to 20.00 lower. Slaughter kids were steady to 5.00 higher. There was a large crowd on hand for the monthly goat sale. Slaughter lambs, wooled choice 2-3 weighing 131 to 138 pounds brought 144.00 to 151.00 per hundredweight. Slaughter kids selection 1 weighing 55 pounds brought 150.00 per head. Stocker and feeder kids, selection 1 weighing 38 pounds traded at 100.00 per head.

Direct trade hog reports were delayed at midday. Missouri direct base carcass meat price is steady from 54.00 to 55.00. Central livestock at Zumbrota, Minnesota hogs are steady at 38.00 on a live basis.

The pork carcass cutout value is 1.41 higher at 77.30 FOB plant. Loins and ribs are up the most.

Monday’s hog slaughter got off to another aggressive start, 443,000 head, 2,000 more than last week and 9,000 greater than 2016. We could be in for another week where pork supplies overwhelms demand.

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