Market News

Midday livestock markets

Cattle country is quiet as expected on Tuesday. Bids and asking prices on this week’s showlists ae not well defined. There have been a few early showlists priced around 151.00 to 152.00 in the South and 240.00 plus in the North, Significant trade will probably be delayed until the second half of the week.

Boxed beef cutout values were lower in the morning report. Choice beef is down .81 at 233.18, and select is .88 lower at 227.95.

Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 2009 head. Compared to a light test last week, steer and heifer calves were 2.00 to 5.00 higher, yearlings were steady to firm compared to the limited test last week. Demand was moderate for a light supply. Feeder steers medium and large 1 averaging 723 pounds traded at 222.26 per hundredweight. 728 pound heifers brought 199.66.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western hogs are 1.36 lower at 75.07 weighted average on a carcass basis, nationally the market is down 1.23 at 73.75. Missouri direct base carcass meat price is steady to 1.00 higher from 71.00 to 72.00. Midwest hogs on a live basis are steady to 1.00 higher from 47.00 to 56.00.

The pork carcass cutout value is 1.37 higher at 89.31 FOB plant. Belly and loin primal were both significantly higher in the morning report.

The appreciation of the pork carcass value since mid-July has really been fairly impressive, especially given such elevated slaughter levels. Monday’s cut-out was again solidly higher, supported by better demand for butts, ribs, and bellies.

While the belly primal has been on fire in recent weeks, time is about to run out on seasonal BLT demand.