Market News

Midday cash livestock markets

Other than a few bids on cattle in Iowa at 255.00, the country was quiet on Friday morning following a light trade in parts of the South on Thursday at mostly 160.00. A light trade took place in the North on Tuesday and Wednesday at 256.00 to 257.00, mostly 256.00. Asking prices on the few cattle left on the showlists are around 162.00 plus in the South and 260.00 plus in the North.

Boxed beef cutout values in the morning report are mixed with the choice beef down 1.77 at 253.88, and select is .54 higher at 249.43.

Feeder cattle receipts a Missouri auctions totaled 47,906 head this week. Compared to last week, feeder steers and heifers sold mostly 5.00 to 15.00 lower. A few cases of closer to steady money were noted mostly on lighter weight cattle, which would be suitable for grass in the coming months. This however was the exception, as the majority of cattle sold at lower levels. Heavy weight cattle, which have fewer days left before finishing, felt the most pressure as futures markets continued a downward slide. Feeder steers, medium and large 1 averaging 621 pounds brought 248.64 per hundredweight. 624 pound heifers averaged 219.83.

Barrows and gilts in the Iowa/Minnesota, Western, and Eastern direct trade are not reported due to confidentiality. Nationally the live market is .57 lower from 52.00 to 54.50. Missouri direct base carcass meat price is steady from 62.00 to 65.00.

The pork carcass cutout value is .99 lower at 83.71 FOB plant.

The monthly cold storage report released yesterday inventoried more frozen pork and beef than most anticipated 497.1 million pounds of pork as of December 31 versus an average guess of 483.5 million.

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