Market News

Wednesday midday cash livestock markets

Direct cash cattle markets remain fairly quiet at midday on Wednesday. There are a few bids reported in Kansas and Texas at $124 on the live basis but packer inquiry should increase as the day goes on. Asking prices are holding around $128 to $129+ in the South and $198+ in the North.

Boxed beef cutout values at midday were mixed with the Choice up $.30 at $193.95 and Select down $.56 at $175.89.

At the Oklahoma National Stockyards in Oklahoma City, Oklahoma, feeder cattle were firm to $3 higher. Demand was called very good for feeder cattle with an increased supply noted. Feeder cattle were in slightly thin to fleshy conditions. 603 to 696 pound feeder steers were $148 to $155.25 and 708 to 794 pounders sold at $140 to $149.25. 501 to 589 pound feeder heifers ranged from $132.50 to $145 and the 607 to 699 pound category sold at $136 to $148.

The major direct hog markets are lower on slow packer demand. The National Direct market opened $.58 lower on the carcass basis at $76.30 to $82.50 with the weighted average at $78.25. The Eastern Cornbelt is $1.18 lower at $76.30 to $78 for an average of $76.59, the Western Cornbelt is down $.40 at $76.75 to $82.50 with an average of $78.82, and Iowa/Southern Minnesota is $.56 lower at $78 to $82.50 for an average of $78.82.

Butcher hogs at the terminal markets are mostly steady with an instance of $2 higher at Dorchester and tops at $50 to $58. The Missouri Direct base carcass meat price is steady at $73 to $76 on light to moderate supply and demand. Missouri Direct sows are steady at $42 to $52. Illinois Direct sows were steady to $1 higher at $48 to $60 on good demand for moderate offerings.

Pork trade at midday was very slow with light to moderate demand and mostly moderate offerings.

For the week ending November 3, the average Iowa/Southern Minnesota hog weight of 272.1 pounds was down seven tenths of a pound on the week and 2.6 pounds on the year.