Market News

Midday cash livestock markets

USDA Mandatory is reporting a limited cattle trade on light to moderate demand in Kansas on Thursday. A few early live sales at 160, but several sellers are passing. Trading is inactive in all other regions. While cash business seems slow, packer inquiry does seem to be improving at least in the South. Short bought packers will probably need to collect more numbers either today or tomorrow. Asking prices are 162.00 plus in the South and 260.00 plus in the North.

Boxed beef cutouts are mixed in the morning report with the choice boxes down 1.28 at 255.91, and select is up .71 at 249.12.

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 5420 head on Wednesday. Compared to last week, steers over 500 pounds sold steady to 7.00 lower and the heifers over 500 pounds sold 4.00 to 8.00 lower. Demand was moderate to good throughout the auction. 500 feeder steers medium and large 1 weighing 727 pounds averaged 226.83 per hundredweight. 432 heifers averaging 719 pounds brought 201.59.

Barrows and gilts in the Iowa/Minnesota direct trade are 2.66 lower at 68.42 weighted average on a carcass basis, the West is 1.56 lower at 68.48, and the East is not reported due to confidentiality. Missouri direct base carcass meat price is steady to 1.00 higher from 62.00 to 66.00. Midwest hogs on a live basis are fully steady from 43.00 to 50.00. Illinois direct sows are steady from 38.00 to 48.00.

The pork carcass cutout value is 2.48 lower FOB plant at 84.56. All cuts are lower.

Iowa barrows and gilts last week averaged 287.1 pounds, 0.9 pounds lighter than the previous week and “only” 3.4 pounds heavier than 2014.