Market News

Midday cash livestock market

It is pretty much the same old story in cattle country on Wednesday with bids and asking prices still not well defined. A few showlists have been priced around 162.00 in the South and 260.00 plus in the North. It is always possible to see some mid-week trade, but significant business will probably wait until the end of the week.

Boxed beef cutout values are higher with the choice up .33 at 248.03, and select is .46 higher at 240.72.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 1849 head on Tuesday. Compared to last week, feeder steers traded 2.00 to 8.00 lower with five and six weights 10.00 to 20.00 lower. Feeder heifers trended 4.00 to 10.00 lower with 400 weights 20.00 lower. Yearlings were lightly tested. The demand was good on a light to moderate supply. Feeder steers medium and large 1 weighing 517 pounds averaged 261.91 per hundredweight. 528 pound heifers brought 236.81.

Barrows and gilts in the Iowa/Minnesota direct trade are down .09 at 67.67 weighted average on a carcass basis, the West is .81 lower at 66.85, and the East is .43 lower at 66.44. Missouri direct base carcass meat price is steady to 1.00 lower from 60.00 to 63.00. Midwest hogs are steady to lower from 42.00 to 50.00 on a live basis.

The pork carcass cutout value FOB plant is down .31 at 81.30.

Assuming the Saturday kill totals around 115,000 head, the weekly hog slaughter is once again set up to exceed the comparable period in 2014 by close to 6%, a good deal more than the bearish December inventory threatened.