Market News

Wednesday midday cash livestock markets

The cash cattle market is off to a slow start on Wednesday with feedlot operators passing on bids of 240.00 in Nebraska, however a few head reportedly were sold there at 242.00 per hundredweight to a regional packer on Tuesday. Packer inquiry should slowly improve today and we should at least start to see some definition in terms of preliminary bids. Current asking prices are around 149.00 to 150.00 South and 242.00 plus in the North.

Boxed beef cutout values are higher in the morning report, with choice beef .30 higher at 233.16, and select 213.96 up .82.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 2643 head on Tuesday. Compared to last week, feeder steers weighing less than 550 pounds were steady to 2.00 lower, heavier weights trended 2.00 to 3.00 higher. The bulk of the feeder heifers were steady to 3.00 higher with most of the gain on the weights over 500 pounds. Yearlings were not well tested but the undertone was slightly higher. The demand was good on a moderate supply. Feeder steers, medium and large 1 averaging 472 pounds brought 225.99 per hundredweight. 518 pound heifers averaged 198.62.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade are not reported due to confidentiality. Nationally the market is 2.12 lower with a weighted average of 114.67 on a carcass basis. The Western trade is down 3.22 at 114.12. Missouri direct base carcass meat price is steady to 3.00 lower from 111.00 to 112.00. Market hogs in the Midwest are steady with an instance of 2.00 lower on a live basis from 81.00 to 96.00.

The pork carcass cutout value FOB plant is 2.38 higher at 124.11.

Seasonally, market hog numbers typically tighten from spring through midsummer. While the exact level of PED death loss through the winter will impact the pace of tightening, market hog supplies will tighten regardless of PED.