Market News

Thursday midday cash livestock prices

Cattle country remains in quiet mode on Thursday with bids and asking prices few and far between, but the expectation is packer inquiry will improve as the day progresses. Significant trade volume may be delayed until sometime on Friday and may wait until until after the release of the cattle on feed report at 2:00 central time. A few asking prices are around 168.00 to 170.00 in the South and 260.00 plus in the North.

Boxed beef cutout values were lower, with the choice down .66 at 250.34, and select .49 lower at 234.58.

Feeder cattle receipts at the Bassett, Nebraska Livestock Auction totaled 3390 head on Wednesday. A trend was not given due to no comparable offering last week. Demand was very good for all offerings with a very high demand for replacement quality heifers. Feeder steers medium and large 1 with an average weight of 567 pounds brought 287.66 per hundredweight. 510 pound replacement heifers averaged 295.00 at Bassett.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western hogs are 3.20 lower with a weighted average of 88.98 on a carcass basis, nationally the market is down 1.46 at 91.35.  Missouri direct base carcass meat price is steady to 2.00 lower from 81.00 to 92.00. Midwest hogs on a live basis are 1.00 to 5.00 lower from 65.00 to 75.00.

The pork carcass cutout value was up .69 FOB plant at 101.85. Bellies, picnics and loins were higher.

Aggressive plant processing speeds through the last couple of weeks have done little to limit overall supply of market ready hogs. This has allowed packers to come to the market with lower offering prices to producers each and every day. The concern that this cycle will continue to develop over the near future gives little short range support to the market over the coming weeks, according to DTN analysts.