Market News

Friday midday cash livestock markets

Cattle country is slow to start on Friday, with just a few bids at 154.00 to 155.00 live and 245.00 dressed being reported by private sources to DTN. The expectation is packer inquiry will improve over the next several hours, but significant trade may not happen until after release of the cattle on feed report this afternoon. Asking prices are around 162.00 to 164.00 in the South and 254.00 plus in the North.

Boxed beef cutout values are lower in the morning report. Choice beef 244.54, down .34, select is 1.45 lower at 230.64.

Feeder cattle receipts at Missouri auctions this week totaled 25,876 head. Compared to last week feeder steers and heifers sold steady to 5.00 higher with some heavy weight calves seeing instances of 10.00 higher. The story of the feeder cattle market is pretty much a continuation of what has been seen over the last several weeks. Given the potential of a likely record harvest many are looking to find cattle to feed in the coming months. Feeder steers, medium and large 1 averaging 622 pounds traded at 259.29 per hundredweight. 619 pound heifers brought 240.71.

Barrow and gilt prices in Iowa/Minnesota, Western and Eastern direct trade areas are not reported due to confidentiality. Nationally the hog market is 2.81 lower with a weighted average of 100.01 on a carcass basis. Missouri direct base carcass meat price is lightly tested at steady prices from 90.00 to 97.00. Peoria is the only Midwest market reporting today with barrows and gilts steady from 65.00 to 67.00 live basis.

The pork carcass value FOB plant is .31 higher at 114.53.

The U.S. dollar continues to rally on expectations of higher rates down the road with the dollar index hitting a 14-month high on Thursday. Needless to say, such a trend is negative for U.S. meat exports.