Market News

Midday cash livestock markets

The cattle trade is slow to get off the ground on Friday, following light trade on Wednesday and Thursday. The best early guesses are that about 6,000 head moved in Nebraska yesterday at 252.00 to 253.00 dressed, and live sales at 160.00 with a few late deals at 160.50. Only a light trade was reported in the South. We may not see additional trade until after the release of the cattle on feed report this afternoon. Asking prices of cattle left on the showlists are around 160.00 in the South and 256.00 plus in the North.

Boxed beef cutout values are lower with the choice down 1.23 at 258.78, and select is 1.76 lower at 249.28.

Feeder cattle receipts at Missouri auctions totaled 27,052 head this week. Compared to the previous week, the bulk of the feeder offering sold 5.00 to 10.00 lower. The supply was moderate with lots of new crop fleshy calves in the offering. Many reporters continue to note that the overall quality of cattle is decreasing about as fast as the amount of grass grazing is increasing. Feeder steers, medium and large 1 averaging 568 pounds traded at 262.79 per hundredweight. 572 pound heifers averaged 228.24.

Barrows and gilts in all of the major direct trade areas are not reported due to confidentiality. In the Iowa/Minnesota report yesterday the market was .89 higher at 63.88 weighted average on a carcass basis, the West closed .88 higher at 63.85. Missouri direct base carcass meat price today is 2.00 lower to 1.00 higher from 48.00 to 59.00. In the live markets only Peoria is operating today at steady prices from 39.00 to 41.00.

The pork carcass cutout value is down .29 FOB plant at 69.38.

Net pork export sales last week were impressive, up 40 percent from the previous week and 10 percent from the prior four week average.

The pork carcass value staged a significant jump on Thursday, jacked by higher quotes on all primals except the belly.

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