Market News

Midday cash livestock markets

DTN is reporting a few cattle have sold in Nebraska at 251.00 today. There are also renewed bids of 158.00 on a live basis there. There was a light trade yesterday in some areas at mostly steady money with Wednesday’s decline. Asking prices on the cattle left on the showlists are around 160.00 in the South, and 252.00 in the North.

Boxed beef cutout values are weak to sharply lower. Choice beef is down 3.12 at 238.43, and select is .19 lower at 230.13.

Feeder cattle receipts at Missouri markets this week totaled 26,071 head. It was a tough week for the cattle sector. Compared to last week feeder steers and heifers traded sharply lower. Steers were 10.00 to 15.00 lower, spots of down 20.00 to 25.00. Heifers were mostly 5.00 to 10.00 lower. Demand was good and the overall supply was moderate. Feeder steers medium and large 1 averaging 673 pounds brought 238.72 per hundredweight. 673 pound heifers traded at 220.26.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade are not reported due to confidentiality. The western market is down .41 with a weighted average of 75.54 on the carcass basis. The national direct trade is .67 lower at 75.68. Missouri direct base carcass meat price is steady to 1.00 lower from 74.00 to 76.00. Midwest hogs on a live bas are steady to 2.00 lower from 50.00 to 60.00 in a very light test.

The pork carcass cutout value is down .95 at 86.43.

Many pork producers across Iowa and Illinois are reporting especially severe problems with PRRS this winter. Many fear that sows weakened by PRRS could be left more vulnerable to PEDv.

As long as contract negotiations at major ports along the West Coast are delayed, the pace of U.S. meat exports is threatened to be seriously impeded.