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Friday midday cash livestock markets

It sounds like the cash cattle business is essentially completed for the week. Best early guesses are Nebraska moved another 10,000 head on Thursday with dressed deals marked at 246.00 to 248.00, mostly 247.00. Asking prices on the few cattle left on the showlists are around 156.00 to 157.00 in the South and 248.00 plus in the North.

Boxed beef cutout values are sharply lower in the morning report. Choice beef is down 1.49 at 248.32, and select is 1.97 lower at 242.27.

Feeder cattle receipts at Missouri Auctions this week totaled 22,337 head. Compared to last week feeder steers sold 5.00 to 10.00 lower and heifers were steady to 5.00 lower. The feeder supply was moderate with mid-weight calves in the 500 to 650 pound range making up much of the week’s offering. Demand was good even as prices turned lower. Feeder steers medium and large 1 averaging 625 pounds traded at 236.72 per hundredweight. 620 pound heifers brought an average of 219.07.

Barrows and gilts in the Iowa/Minnesota direct trade opened .86 lower with a weighted average of 126.97 on a carcass basis, the West is down .73 at 127.09, and the Eastern trade is not reported due to confidentiality. Missouri direct base carcass meat price is steady at 122.00. Barrows and gilts in the Midwest are steady to 1.00 higher from 88.00 to 94.00 in a light Friday test.

The pork carcass cutout value is .78 higher at 137.87 FOB plant.

Assuming that today’s hog kill totals no more than 275,000 head with the Saturday effort close to zero, weekly slaughter will amount to no more than 1,825,000 head, approximately 9.3% below last year. The PED-related short fall continues to grow.

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