Market News

Wednesday midday cash livestock markets

Cattle country is fairly quiet on Wednesday with just a few bids renewed in Texas today at 146.00. These bids are still far from current asking prices that are around 150.00 in the South, and 244.00 plus in the North. Significant trade volume could be delayed until sometime Thursday or Friday.

Boxed beef cutout values are lower in the morning report. Choice beef is down 1.79 at 225.20 and select is 1.12 lower at 218.85.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, MO totaled 1774 head on Tuesday. Compared to last week the bulk of the feeder steers and heifers traded steady to 3.00 higher. Yearling steers and heifers’ were not well tested. Demand was good on a light supply. Feeder steers medium and large 1 averaging 527 pounds brought 223.52 per hundredweight. 529 pound heifers averaged 195.16.

Barrows and gilts in the Western direct trade area are 5.34 higher at 128.42 weighted average on a carcass basis. Iowa/Minnesota and Eastern trade are not reported due to confidentiality. Nationally the hog market on a carcass basis is .75 higher at 123.73, Missouri direct base carcass meat price is steady to 2.00 lower from 116.00 to 117.00. Barrows and gilts at country markets are steady to 1.00 to 2.00 lower from 84.00 to 97.00.

The pork carcass value is 2.57 higher at 132.41.

Even if PEDv death loss was considered to be zero, weekly slaughter levels would be set to seasonally slide from mid-April to late July, so why are summer lean hog futures now trading close to $14 below the cash index?