Market News

Friday midday cash livestock prices.

Cattle country is quiet on Friday after yesterday’s moderate to active trade at sharply lower prices. DTN says the best early guesses are Nebraska moved about 30,000 to 35,000 head with a dressed range of 245.00 to 249.00., mostly 246.00. The higher end of the range was to regionals only. Kansas sold between 12,000 and 13,000 head from 156.00 to 157.00. Texas only traded around 1,200 to 1,500 head from 155.00 to 156.00. It sounds like business is essentially done for the week.

Boxed beef cutout values are higher with choice up 1.60 at 252.17, and select 1.26 higher at 243.52.

Feeder cattle receipts at the Mitchell, South Dakota Livestock Auction totaled 3779 cattle on Thursday. Compared to two weeks ago, a narrow comparison of feeder steers were 2.00 to 4.00 higher, except those weighing 950 pounds were 7.00 to 10.00 higher. Heifers were 3.00 to 5.00 higher with instances of 8.00 to 10.00 higher on 700 to 850 pounds. Very good demand for all weights and flesh conditions. Feeder steers weighing 782 pounds averaged 217.75 per hundredweight. 783 pound heifers brought 200.82.

Barrows and gilts in the Iowa/Minnesota and Western direct trade are not reported due to confidentiality. Eastern markets are 1.00 lower with a weighted average of 129.01 on a carcass basis, the National direct market is .85 lower at 128.94.Missouri direct base carcass meat price is steady from 120.00 to 122.00. Midwest barrows and gilts are steady in a very light test from 86.00 to 92.00 on a live basis.

The pork carcass value is down .09 FOB plant at 134.67.

Gasoline prices could fall up to 25 cents a gallon in parts of the U.S. within the next two weeks, thanks to slumping crude oil prices, weakening demand and robust supplies. This could put more meat-spending potential in consumer budgets.