Market News

Thursday midday cash livestock markets

Feedlot country is at a virtual standstill on Thursday with no bids reported. Asking prices are around 121.00 plus in the South and 193.00 to 195.00 in the North. Short bought packer should start to get serious today, and that should mean at least moving a little closer to the asking prices. While beef carcass seems to be holding relatively steady so far this week, box movement remains unimpressively slow, DTN says this suggests additional tonnage could only clear marketing channels with the help of lower prices.

Boxed beef cutout values are mixed at midday, with the choice down .20 at 190.96, and the select up .40 at 186.63.

Feeder cattle receipts at the Hub City Livestock Auction at Aberdeen, SD totaled 3939 head. Yesterday’s sale was over 65 percent heifers, last week’s sale was over 70 percent steers, making a good comparison on price difficult, however when comparing individual lots of like kind cattle, the offering sold steady with lower undertones. It was an active market with good demand. Feeder steers medium and large 1 weighing 668 lbs. brought 168.48 per hundredweight. 571 pound heifers traded at an average of 157.43.

The Iowa/Minnesota barrow and gilt prices are not reported due to confidentiality, in the West the market is .28 higher on the carcass basis at 77.77, and the East is .48 lower at 75.75. Missouri direct base carcass meat price is steady from 74.00 to 75.00. Terminal hogs are fully steady on a live basis from 51.00 to 53.00.

Iowa barrows and gilts last week averaged 276.1 pounds, .8 pound lighter than the prior week and only 2.8 pounds heavier than last year. Seasonally, live weights are now set to drop 10 pounds or more over the next 2 to 3 months.