Barrows and gilts in the Iowa/Minnesota direct trade opened .27 lower at 64.75 on a carcass basis, the West was down .24 at 64.72, and the East is .14 lower at 64.84. Stressed by tough winter conditions, live hog weights have fallen behind the seasonal trend. Last week, Iowa’s average weights for barrows and gilts totaled 269 pounds, .7 pounds above the previous week but 1.6 pounds lighter than 2009.
Cattle country remains relatively quiet following yesterday’s active trade. A few cattle sold in Colorado this forenoon at 85.00. Early estimates are around 45,000 cattle sold in Nebraska yesterday at mostly 137.00 on the dressed basis, and 84.00 live. We should see more trade today in Western Nebraska, Iowa and Colorado. Southern business was generally steady with Tuesday at 85.00 to 85.50, so trade in that area is basically wrapped up for the week. Asking prices left on the show lists are 86.00 to 87.00 in the South and 138 plus in the North.
Boxed beef cutout values were slightly lower at midday with the choice beef down .19 at 145.24, and select was .08 lower at 139.94.
Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 5150 head yesterday. Compared to last week, steers trended 2.00 to 3.00 higher and heifers were steady to 2.00 higher. Demand and trade activity was moderate to very good. Feeder steers medium and large 1 averaging 719 pounds traded at 100.42 per hundredweight, 724 pound heifers brought an average of 93.32.
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