Market News

Wednesday midday cash livestock markets

Packer inquiry in the cash cattle trade is light to moderate as the country tries to take care of business before the Thanksgiving break. USDA Mandatory reported a few sales in Kansas at 173.00 that looks to be about steady with last week. Look for buying interest to improve throughout the day. Asking prices are around 174.00 to 175.00 in the South and 272.00 to 274.00 in the North.

Boxed beef cutout values are firm in the morning report with the choice up .59 at 257.46, and select .16 higher at 243.83.

Feeder cattle receipts at the Philip Livestock Auction, Philip, SD totaled 3820 head. Compared to last week, feeder steers weighing less than 550 pounds were steady, 550 to 700 pounds trended 4.00 to 6.00 higher. Feeder heifers less than 550 pounds were steady, 550 to 650 pounds traded 5.00 to 8.00 higher. There was good demand for several strings and many load lots and packages of feeder cattle which sold on an active to very active market. Feeder steer calves averaging 626 pounds brought 279.21 per hundredweight. 654 pound heifer calves averaged 251.26.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.05 lower at 86.23 weighted average on a carcass basis, the West is down 1.02 at 86.23, and nationally the market is 1.43 lower at 84.54. Eastern hogs are not reported due to confidentiality. Missouri direct base carcass meat price is steady from 77.00 to 79.00.Barrows and gilts at Midwest markets are steady with an instance of $3.00 lower in a light test from 58.00 to 63.00 live.

The pork carcass cutout value FOB plant is .52 lower at 91.66. Bellies are over $5.00 higher, but hams are more than $5.00 lower.

Though pre-holiday markets are always tough to read, the trend in negotiated cash hog sales this week has been encouraging, both in terms higher bids and decent volume. Slaughter supplies seem to be becoming more manageable.

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