Market News

Thursday midday cash livestock markets

Cattle country woke up early on Thursday with fresh bids noted in all major feeding states. And a few cattle traded today in Nebraska at 162.00 live, $6.00higher than last week’s weighted average. Some cattle trade was reported late yesterday in Nebraska, around 10,000 head at 255.00 dressed to regional buyers and 160.00 live to a major. Asking prices are around 162.00 to 164.00 in the South and 258.00 plus in the North.

Boxed beef cutout values are sharply higher in the morning report, choice is up 3.28 at 255.87, and select is 3.76 higher at 252.47.

Feeder cattle receipts at the Bassett Livestock Auction, Bassett, Nebraska totaled 1540 head on Wednesday. A limited number of comparable offerings from two weeks ago with 650 pound steers significantly higher and 850 pound heifers 10.00 higher. Demand was very good for all offerings of weaned fall calves and reputation, replacement quality heifers. 185 head of 677 pound steers averaged 268.19 per hundredweight. 120 replacement heifers averaging 930 pounds brought 219.00 on average.

Barrows and gilts in the Iowa/Minnesota direct, East and West are not reported due to confidentiality. Nationally the market is 1.55 lower at 123.44 weighted average on a carcass basis. Missouri direct base carcass meat price is steady to 3.00 lower from 116.00 to 122.00. In the Midwest barrows and gilts are steady from 88.00 to 96.00 live.

The pork carcass cutout value is .65 lower FOB plant at 131.95.

For the week ending July 19, Iowa barrows and gilts averaged 284.8 pounds, .8 pound lighter than the prior week, though still 13.7 pounds above 2013. It seems like a good bet that hog size will shrink again this week given hot summer temps.