Market News

Friday midday cash livestock markets

Packer inquiry into the cattle is light to moderate. Look for buyers to turn up the heat over the next several hours, at least enough to get short term slaughter needs covered and grease the wheels for a Labor Day exit. A few late deals were scored in Nebraska on Thursday as high as 155.00 live and 243.00 dressed to regional buyers. Asking prices are around 155.00 to 156.00 live and 245.00 to 248.00 dressed.

Boxed beef values are lower in the morning report, with choice down .90 at 245.99, and select 234.78 down .49.

Feeder cattle receipts at Missouri auctions this week totaled 14,923 head. Compared to the previous week, feeder steers and heifers trended steady to 5.00 lower, although some southern markets did see instances of fully steady to firm markets on light weight feeders suitable for grazing wheat pastures. The supply of feeders offered at auctions was light as the August heat kept many producers at home. Feeder steers medium and large 1 averaging 624 pounds traded at 245.27 per hundredweight. 619 pound heifers averaged 227.43.

Barrow and gilt prices in the three major direct trade areas are not reported due to confidentiality. Nationally the market is .10 higher with a weighted average of 90.56 on a carcass basis. Missouri direct base carcass meat price is steady at 88.00. Most Midwest hog markets are closed for the holiday with only Peoria reporting 1.00 lower with a top of 62.00 live.

The pork carcass value is 1.00 higher at 101.62 FOB plant. The belly primal is over $15.00 higher.

Barring a huge surprise in country numbers, weekly hog kills will steadily climb from September through November. By Thanksgiving, pork demand will be challenged to handle an additional 300,000-plus heavy hogs on a weekly basis.