Midday cash livestock markets

A few more bids are being reported in the feedlot cattle trade at midday. But most of those are in the North at 88.00 to 90.00 live and 144.00 to 145.00 dressed, asking prices are 150.00. No bids have been reported in the South where asking prices are around 94.00. Significant business could be delayed until later today and/or tomorrow.  Choice boxed beef is .41 lower at midday, and select is down .44 at 148.76.

Feeder cattle receipts at the Bassett, NE Livestock Auction totaled 2650 head on Wednesday. Compared with two weeks ago steers and heifers trended steady. Demand was good and trading was active. Feeder steers medium and large 1; 454 head averaging 568 lbs traded at 125.31 per hundredweight. 126 heifers weighing 583 lbs brought 107.49.

Barrows and gilts in the Iowa/Minnesota direct trade opened 3.54 lower at 70.78 on a carcass basis, the West is down 2.94 at 71.14, and the East is .60 lower at 69.36. Missouri direct base carcass meat price is steady to 1.00 lower from 64.00 to 67.00. Iowa barrows and gilts last week averaged 269.3 pounds, .1 pound lighter than the previous week, and .8 pounds larger than 2009, and 1.3 pounds heavier than the three year average. While the week to week change is minimal, the fact that weights continue to hang above 2009 and the three year average represents some evidence for those that think finishing floors could be more current.