Market News

Midday cash livestock markets

Packer inquiry into the cattle is improving, USDA Mandatory is reporting a light trade in Kansas at 160.00, 2.00 higher than last week, but most operators continue to pass bids of 160.00 in the South. A few steers have been reported sold in Nebraska at 160.00. Texas saw some trade yesterday at 157.00 to 158.00. Asking prices are around 161.00 in the South and 256.00 plus in the North.

Boxed beef cutout values were lower in the morning report. Choice beef was down 2.40 at 254.50, and select was 1.67 lower at 242.38.

Feeder cattle receipts at Missouri auctions this week totaled 32,841 head. Compared to last week, calves sold unevenly steady, yearlings trended steady to 5.00 higher. The supply was moderate. Much of the offering remained made up of light weight calves with many carrying extra flesh with only average quality at best. The offering consisted of a slightly higher percentage than usual of bulls. Feeder steers medium and large 1 averaging 527 pounds traded at 276.28 per hundredweight. 523 pound heifers brought 244.11.

Barrows and gilts in the major direct trade areas are not reported due to confidentiality. Missouri direct base carcass meat price is steady to 2.00 higher from 58.00 to 64.00. Midwest hogs on a live basis are lightly tested, steady to 3.00 higher from 44.00 to 48.00.

The pork carcass cutout value is up .64 at 73.92 FOB plant.

Net pork export sales last week were up 9 percent from the previous week and 16 percent from the prior 4-week average.

The pork carcass value surged higher on Thursday to its highest level seen since February 9 with significant appreciation from loin, picnic, and belly primals.

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