Market News

Thursday midday cash livestock market

We should start to see the packer inquiry into the cattle improve as the day progresses, however significant trade may not develop until Friday. So far on Thursday no bids have been reported. Asking prices are around 172.00 to 173.00 in the South and 270.00 plus in the North.

Boxed beef cutout values were near steady in the morning report with choice beef .02 lower at 253.61, and select down .03 at 239.74.

Feeder cattle receipts at the Huss Platte Valley Auction at Kearney, Nebraska totaled 1760 head on Wednesday. Compared to last week, 600 to 700 pound steers were 2.00 higher. Not enough other steers for a market comparison. Heifer calves sold unevenly steady. Demand was moderate to good, with very good demand for F1 baldy replacement heifers. 226 head of feeder steer calves averaging 632 pounds averaged 267.81 per hundredweight. 156 heifer calves weighing 626 brought 242.28.

Barrows and gilts in the Iowa/Minnesota direct trade and the East are not reported due to confidentiality. Nationally the market is 1.78 lower at 83.68 weighted average on a carcass basis. Barrows and gilts in the West are down 1.54 at 84.58. Market hogs at Midwest markets are steady from 56.00 to 77.00 on a live basis.

The pork carcass cutout value FOB plant was down 1.45 at 97.90.

Demand for pork is likely to remain relatively strong, given record high cattle and beef prices. Decent chicken prices should also be helpful in this regard. 

The number of new cases of PEDv as tracked in the Swine Monitoring Project has declined sharply since June and it has remained at near zero levels through the end of October.

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