Market News

Friday midday cash livestock markets

Packer inquiry into the cattle is slowly starting to improve with a few bids at 160.00 live in the South and 249.00 to 250.00 dressed in the North. Asking prices are around 163.00 to 165.00 in the South and 255.00 plus in the North.

Boxed beef values are lower in the morning report, with choice 150.53, down 1.01, select 236.53, .82 lower.

Feeder cattle receipts at Missouri auctions this past week totaled 32,147 head. Compared to last week, feeder steers and heifers sold steady to 5.00 higher with instances of 10.00 higher. Several barns got the full gain of the last two weeks after being off the previous week and saw markets 15.00 to 20.00 higher. The feeder supply was moderate. Demand for cattle remains good to very good with overall tight supplies in the country being the driving factor. Feeder steers medium and large 1 averaging 576 pounds averaged 262.78 per hundredweight. 573 pound heifers averaged 240.52.

Barrows and gilts in the Iowa/Minnesota direct trade are .54 higher with a weighted average of 103.29 on a carcass basis, the West is up .77 at 103.27, and the East is .24 lower at 96.38. Missouri direct base carcass meat price is steady from 87.00 to 94.00. Barrows and gilts at Midwest markets are very lightly tested from 2.00 to 5.00 higher from 64.00 to 66.00 live.

Pork carcass cutout value is .98 lower FOB plant 106.55,

Between mid-September and late October last year, weekly hog slaughter exploded by more than 200,000 head. Many of DTN private sources in the country seriously doubt the current finishing floor population can fund such an aggressive acceleration.

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