Market News

Thursday midday cash livestock markets

So far today there are no bids on the cattle, but packer inquiry is expected to improve as the day progresses. Asking prices are around 164.00 in the South, and 253.00 to 255.00 in the North. Given the fact week to date cattle slaughter is running only 3,000 behind last week, short bought cattle buyers are set to be just as hungry today and or tomorrow as they were last week.

Boxed beef cutout values are mixed with the choice down .76 at 245.15, and select up .49 at 232.81.

Feeder cattle receipts at the Hub City Livestock at Aberdeen, South Dakota totaled 3274 head. Compared to last week, steers were mostly 2.00 to 4.00 higher. Feeder heifers over 850 pounds steady to 3.00 higher with instances of 9.00 higher on 850 to 900 pound offerings. There was good to very good demand for all classes of feeders with the best demand for long consignments of light fleshed cattle off grass. Feeder steers, medium and large 1 averaging 873 pounds brought 235.53 per hundredweight. 906 pound heifers averaged 213.27.

Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Eastern markets are .59 lower with a weighted average of 99.31 on a carcass basis. Nationally the direct trade is 2.77 lower at 100.24. Missouri direct base carcass meat price is steady from 90.00 to 97.00. Midwest hogs on a live basis are steady from 65.00 to 70.00 live.

Iowa barrows and gilts averaged 281.9 pounds last week, 0.2 pounds lighter than the prior week, yet still 11 pounds greater than 2013.

The pork carcass cutout value is 1.52 higher at 111.63 FOB plant.

Pork’s farm-to-retail spread in August jumped to $2.80, 13% greater than July and 10% larger than 2013. Retail pork margins are far superior to their beef counterparts, suggesting that grocers are far more likely to feature and promote pork cuts.