Market News

Monday midday cash livestock markets

Barrows and gilts in the Iowa/Minnesota direct trade opened 2.01 lower at 46.39 weighted average on a carcass basis. The Missouri direct base carcass meat price was 1.00 to 2.00 lower from 43.00 to 47.00. Sows took a big hit on Monday in the Illinois direct trade, 5.00 to 6.00 lower on the light weights and 8.00 to 10.00 lower on heavy weights from 20.00 to 30.00, with a few at 34.00. DTN’s John Harrington says there are no signs yet that the bottom in lean hogs has been established. Seasonal patterns would suggest additional weakness in the week ahead and cash markets are imploding so it will be difficult to change market psychology by looking at fundamental developments.

In the cattle, buyers and sellers are primarily focused on the distribution of the new show lists. Asking prices this week are expected to be around 84 + live and 134 + dressed. Last week live basis cattle brought 81.00 to 82.00, and dressed from 129.00 to 130.00. Boxed beef prices started the week .14 higher on the choice at 140.84, and .01 lower at 134.07 on the dressed.

At the Joplin Regional Stockyards on Monday receipts total 4500 cattle. At mid-session steer and heifer calves are steady to firm, yearlings sold steady early. Demand and supply called moderate. Feeder steers medium and large 1 weighing 500 to 600 pounds from 105.00 to 114.00. 5 to 6 weight heifers traded from 94.50 to 101.00.

Oklahoma City receipts total 6700 head. Feeder steers opened steady, heifers steady to 1.00 higher. Calves steady on a light test. Demand is good for all classes. 600 to 700 pound steers traded from 104.00 to 109.75, and 6 to 7 weight heifers from 101.00 to 104.00.

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