Market News

Thursday midday cash livestock markets

Private sources are reporting a few bids on the cattle in Nebraska on Thursday from 255.00 to 259.00 on a dressed basis. The rest of cattle country remains quiet, but packer inquiry is expected to improve as the day progresses, although it is possible significant trade volume could wait until Friday. Asking prices are around 168.00 to 170.00 in the South and 265.00 to 270.00 in the North.

Boxed beef cutout values are higher in the morning report, with the choice up 1.60 at 264.52, and select is up .54 at 261.37

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 1225 head on Wednesday, Compared to two weeks ago, steers over 850 pounds sold 10.00 higher, there were not enough comparable sales of heifers and light steers for a market comparison. Demand was very good from start to finish on all offerings. Feeder steers, medium and large 1 averaging 932 pounds average 224.47 per hundredweight. 906 pound heifers traded at 213.50.

Barrows and gilts in the Iowa/Minnesota direct trade open 3.61 lower, the West is down 3.51 with both at 117.46 weighted average on a carcass basis, and Eastern hogs are not reported due to confidentiality. Missouri direct base carcass meat price is 1.00 lower at 114.00. Barrows and gilts at Midwest markets are steady to 1.00 lower from 84.00 to 95.00 on a live basis.

The pork carcass cutout value is down 1.71 at 128.52 FOB plant.

For the week ending July 26, Iowa barrows and gilts averaged 283.7 pounds, 1.1 pounds lighter than the previous week, though still 13.3 pounds heavier than 2013.

The negative tone of the summer hog market was further stoked yesterday by another round of triple-digit losses in lean futures and reports of significant lower country sales.