Market News

Monday midday cash livestock markets

Cattle country is quiet on Monday as buyers and sellers are busy taking inventory. Since offerings are expected to be about steady with last week, much depends upon the ability of the wholesale trade to sustain itself going into the late year holidays. Early asking prices should be around 102.00 to 104.00 in the South, and 165.00 plus in the North.

Boxed beef cutout values at midday are higher with the choice up 1.31 at 165.05, and select at 152.91 up .34.

Cattle receipts at the Ericson Spalding Livestock Auction at Ericson, NE last week totaled 2260 head. Compared to the previous week, steers trended 6.00 to 10.00 higher and heifers were up 7.00 to 9.00. Demand was good, despite the snow and icy weather conditions in the area, with some internet activity. 251 feeder steers medium and large 1 averaging 572 lbs traded at 140.75. 208 heifers weighing 520 lbs averaged 129.11 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade opened 1.91 lower on a carcass basis, the West is down 1.74 with both at 66.00, in the East the hogs are .26 lower at 65.27. Missouri direct base carcass meat price is 2.00 to 3.00 higher from 62.00 to 64.00.

Declining pork production last week should be supportive of wholesale prices, and seasonal numbers should continue to ease lower through the end of the year.