Market News

Thursday midday cash livestock markets

The cash cattle market is slow in developing on Thursday. The same starter bids evident yesterday at 151.00 to 152.00 live and 240.00 dressed are offered today, but little else. Buying interest should build through the day if packers are serious about completing procurement efforts before Friday. Asking prices are around 155.00 plus in the South and 245.00 plus in the North.

Boxed beef cutout values are near steady to significantly lower. Choice beef is down .34 at 247.07, and select is 2.02 lower at 235.58.

Receipts at the Creston, Iowa feeder cattle auction totaled 3213 head on Wednesday. There is no price comparison as the sale has not been reported for three months. Trade was active and demand was very good for the special customer appreciation BBQ auction. 89% of the cattle weighted over 600 pounds. Feeder steers, medium and large 1 averaging 832 pounds averaged 215.28 per hundredweight. 816 pound heifers averaged 205.56.

Barrows and gilt prices in the three major direct trade areas are not reported due to confidentiality. Nationally the direct trade is 1.65 lower with a weighted average of 90.45 on a carcass basis. Missouri direct hogs are steady with the base carcass meat price at 88.00. Buying interest is much lower prior to the holiday. Midwest barrows and gilts on a live basis are steady to 1.00 lower in a light test, from 61.50 to 70.00.

The pork carcass value FOB plant is .21 lower at 99.97 after sharp losses yesterday in the belly primal.

For the week ending August 23, Iowa barrow and gilts averaged 282.1 pounds, 0.4 pounds lighter than the previous week, but still 10.5 pounds heavier than 2013.