Market News

Midday cash livestock markets for Tuesday

Cattle country is quiet on Tuesday with bids and asking prices not fully established as both producers and packers are busy counting heads. Last week cattle buyers waited until late in the day on Friday to fill showlists and some were forced to pay higher money. Live sales in the South ranged from 155.00 to 156.00, 3.00 to 4.00 higher. While Northern dressed business was marked at mostly 245.00 generally 3.00 higher than the previous week, basis Nebraska’s weighted average.

Boxed beef cutout values are higher with the choice up .41 at 246.71, and select was up .81 at 235.20.

Feeder cattle receipts at the Callaway Livestock Center, Kingdom City, Missouri totaled 2738 head. Compared to last week, the annual Labor Day yearling sale had steers and heifers under 500 pounds not well tested, over 500 pounds were steady to firm. The demand was good on a moderate to heavy supply. The offering consisted of mostly 550 to 950 pound feeders with 29 full pot loads. Feeder steers medium and large 1 averaging 840 pounds brought 221.44 per hundredweight. 563 pound heifers traded at 240.00.

Barrows and Gilts in the Iowa/Minnesota, Western and Eastern direct trade are not reported due to confidentiality. Nationally the market is .80 lower with a weighted average of 90.23 on a carcass basis. The Missouri direct base carcass meat price is 2.00 lower from 85.00 to 86.00. Midwest barrows and gilts are steady to 2.00 lower from 59.00 to 70.00 live basis.

The pork carcass cutout value FOB plant is .18 lower at 101.54.

Last week’s hog slaughter totaled no more than 1,979,000 head, 10.4% smaller than last year. With numbers still lagging so far behind last year’s pace, ideas that death loss connected to PED will be difficult to detect through the last third of 2014 may be entirely premature and unjustified.

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