Market News

Midday livestock Markets

Feedlot country is quiet on Wednesday with significant trade volume possibly delayed until Thursday or Friday. A light trade was reported in parts of Eastern Nebraska and Western Iowa on Tuesday with most dressed sales marked at 256.00, about 7.00 lower than last week’s weighted average basis Nebraska. Asking prices are poorly defined with some steers and heifers priced around 162.00 to 163.00 in the South and 263.00 to 265.00 in the North.

Boxed beef cutout values are moderately higher with the choice up .71 at 258.95, and select .73 higher at 249.56.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 4537 head on Tuesday. Compared to last week, feeder steers and heifers trended 5.00 to 15.00 lower with spots of 20.00 lower. The demand was moderate to good on a heavy supply. Feeder steers Medium and large 1-2 averaging 671 pounds traded at 216.88 per hundredweight. 574 pound heifers brought 214.91 at West Plains.

Barrow and gilt prices in all direct trade areas are not reported due to confidentiality. The Missouri direct base carcass meat price is steady to 2.00 lower from 62.00 to 65.00. Midwest hogs on a live basis are steady to/weak to 1.00 to 2.00 lower from 43.00 to 55.00.

The pork carcass cutout value was .09 higher at 86.00 FOB plant.

The pork carcass value jumped significantly higher yesterday, supported by improving demand for loins, hams, and bellies.

Pork processing margins are terrific with the carcass value now floating more than $10 over the latest cash index. Packers have plenty of incentive to support the cash trade.

 

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