Market News

Midday cash livestock markets

Cattle country was relatively quiet on Friday morning following light to moderate trade in the North on Thursday. Best early guesses are that around 10,000  to 12,000 head moved in Nebraska with a range of 251.00 to 253.00, mostly 252.00, the 253.00 was to a regional packer. A few head moved in Kansas at 159.50 to 163.00. It looks like the Southern business may be completed for the week, but the North should need to see more sales.

Boxed beef cutout values were significantly lower in the morning report with the choice down 1.42 at 260.80, and select was 1.32 lower at 248.00

Feeder cattle receipts at Missouri auctions this week totaled 27,563 head. Compared to last week, feeders sold steady to 5.00 higher. The supply was moderate with 450 to 650 pound calves making up a large percentage of the offerings. Several barns have annual yearling sales scheduled in the next few weeks which always consist of many load lots of high quality yearlings. The demand for feeder cattle was good. Grass is green and pastures are back to growing with the surplus of moisture available. Feeder steers medium and large 1 averaging 626 pounds at 259.59. Heifers averaging 622 pounds brought 229.39.

Barrows and gilts in the Iowa/Minnesota direct trade are down 1.84 at 77.56 weighted average on a carcass basis, the West is 3.62 lower at 75.52, and nationally the market is 1.73 lower at 76.48. Missouri direct base carcass meat price is steady from 73.00 to 74.00. Midwest hogs on a live basis are lightly tested from 53.00 to 60.00.

The pork carcass cutout value in the morning report was sharply lower, down 2.05 at 85.00 FOB plant.

The pork carcass value on Thursday jumped to its highest level since December 26, at $87.05. From Thursday to Thursday, the cut-out has advanced $2.68, powered largely by better belly demand.