Market News

Wednesday midday cash livestock markets

The country is quiet and so far no bids on the cattle have been reported. Significant trade will likely be delayed until Thursday or Friday. Asking prices are around 168.00 to 170.00 in the South and 265.00 to 270.00 in the North.

The boxed beef cutout value is significantly higher with the choice up 1.69 at 263.03, and select is 2.47 higher at 261.50.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 2486 head. Compared to last week, feeder steers traded 10.00 to 15.00 higher, while feeder heifers were 5.00 to 10.00 higher. Demand was very good on a moderate supply. Feeder steers medium and large 1 weighing 550 to 600 pounds brought 247.00 to 262.00 per hundredweight. 5 to 6 weight heifers traded from 230.00 to 247.50.

Barrows and gilts in the Iowa/Minnesota direct trade are 2.04 lower the West is down 1.98 with a weighted average of 120.00 on a carcass basis in both regions. Eastern direct trade is not reported due to confidentiality. Missouri direct base carcass meat price is 1.00 to 3.00 lower from 114.00 to 115.000. Barrows and gilts at Midwest markets are 1.00 lower to 1.00 higher on a live basis from 83.00 to 95.00.

The pork carcass cutout value is 1.73 lower at 129.40 FOB plant.

There’s an increasing amount of trade talk that processors will soon begin manufacturing hams for the Thanksgiving and Christmas holidays. The strong domestic pull for the product should limit downside potential in the near-term.

Faced with extremely tight ready hog supplies, many pork plants will be dark on Friday with the total kill probably reduced to around 255,000 head. It sounds like the weekly kill will fall 9% or more below 2013.