Market News

Wednesday midday cash livestock markets

There is not a lot of action in cattle country on Wednesday, with bids and asking prices still not fully established. A few asking prices are being reported by DTN at 164.00 in the South, and 253.00 to 255.00 in the North. With early week chain speed running close to last week, there is little reason to assume cattle buyers will command significantly more leverage than they had late last week.

Boxed beef cutout values were mixed in the morning report with the choice 246.11, down 1.53, and select 233.21, up .25.

Feeder cattle receipts at the Ozarks’ Regional Stockyards at West Plains, Missouri totaled 4267 head on Tuesday. Feeder steers trended uneven from 5.00 lower to 5.00 higher while feeder heifers were 2.00 to 5.00 higher. Yearling steers and heifers trended steady to 3.00 higher. Demand was very good on a heavy supply. Feeder steers medium and large 1 averaging 516 pounds brought 267.18 per hundredweight. 525 pound heifers averaged 247.60.

Barrows and gilts in the Iowa/Minnesota direct trade .86 lower with a weighted average of 103.76 on a carcass basis, Western hogs 103.75, down .39, and the East is not reported due to confidentiality. The Missouri direct base carcass meat price is steady from 90.00 to 97.00. Midwest hogs are 4.00 lower to 3.00 higher from 65.00 to 70.00 live.

The pork carcass cutout value is down 1.46 at 109.29 FOB plant.

The fact that market watchers saw another round of firming cash bids in hog country on Tuesday is further proof that the early-fall recovery has not yet run out of gas. Finishing floor supplies may become burdensome in another 30-45 days or so, but they remain relatively manageable right now.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!