Market News

Thursday midday cash livestock prices

Cattle country is relatively quiet on Thursday, it is possible we could see a little more trade this week, but the big question is at what price? A light trade was reported in some areas yesterday, but live trade in Texas was 1.00 lower than Tuesday’s movement, while a few scattered dressed deals in the North were generally steady with Tuesday’s business. Asking prices are around 128.00 plus in the South and 203.00 in the North.

Boxed beef cutout values are lower in the noon report, choice is down .96 at 196.52, and select is .85 lower at 194.23.

Cattle and hog futures contracts were higher at midday. Support in the outside markets helped to draw buyers into both the cattle and hog complex.

Feeder cattle receipts at the Hub City Livestock Auction at Aberdeen, SD totaled 5189 head on Wednesday. Compared to the sale on Saturday, feeder cattle sold mostly 2.00 lower. Red Angus replacement type heifers sold steady. It was an active market with good demand. Feeder steers, medium and large 1 weighing 819 pounds average 150.61 per hundredweight. 831 pound heifers brought 134.03.

Iowa/Minnesota direct trade hogs are down 1.05 at 86.50 weighted averages on a carcass basis, the West is 1.18 lower at 86.16, and the East is down .40 at 83.43. Missouri direct base carcass meat price is steady to 1.00 higher from 80.00 to 81.00. Terminal hogs are steady to 1.50 higher on a live basis from 58.50 to 62.00.

For the week ending March 3, Iowa barrows and gilts averaged 276.1 pounds, 0.3 pounds bigger than the previous  week and 3.5 pounds heavier than 2011. This marked the largest weight premium over the previous year since last August.