Market News

Friday midday cash livestock markets

It is possible that we could see some cattle clean-up deals here and there before breaking for the weekend, but most buyers and sellers seem to be done for the month. Several pens did sell late in Kansas late Thursday near the top of the week’s trade at 152.00. Any unsold slaughter cattle are probably priced around 152.00 to 153.00 in the South and 245.00 plus in the North.

Boxed beef cutout values in the morning report are lower, Choice beef is down 2.82 at 236.43, and select is .73 lower at 230.48.

Feeder cattle receipts at the Mitchell Livestock Auction, Mitchell, South Dakota totaled 4701 head on Thursday. Compared to last week feeder steers were steady to 2.00 higher with instances of 5.00 higher on 800 to 850 pound steers. Feeder heifers were steady to 3.00 higher. There was good to very good demand for all weights of cattle. Feeder steers averaging 839 pounds traded at 172.60 per hundredweight. Heifers weighing 821 pounds brought 163.01 on average.

Barrows and gilts in the Iowa/Minnesota, Western direct trade areas are not reported due to confidentiality. The eastern market is .90 higher at 124.64. Nationally the market is 2.14 lower with a weighted average of 125.16 on a carcass basis. Terminal hogs are steady to 1.00 higher on the live basis from 83.00 to 90.00.

The pork carcass cutout value was .18 higher at 130.93 FOB plant.

Given that the bullish psychology in the hog market is already so thick you can cut it with a knife, the trade may be more vulnerable to a bearish surprise in this afternoon hog and pig report than a bullish one.