Market News

Midday livestock markets

The feedlot cattle trade is very slow to start on Friday with just a few more bids on the table from 143.00 to 145.00 live, and 230.00 dressed. Bids are still a long way from the current asking prices of 148.00 in the South and 236.00 plus in the North. Packer inquiry should start to improve, but it may be late afternoon before we see significant trade volume.

Boxed beef values at midday are steady to weak. Choice beef is down .07 at 233.27, and select is .37 higher at 229.69.

Feeder cattle receipts at Missouri auctions this week totaled just 8,815 head. Compared to last week, feeder steers and heifers sold with a weak to lower undertone. The feeder supply was light, it has actually been a very long time since weekly receipts have been this short on a non-holiday week. High heat has been one of the main factors responsible for curtailing the transportation of livestock. Seasonal lows in the market are also not overly attractive for producers to sell when pastures are green and still growing which is very uncommon for the beginning of August. Feeder steers medium and large 1 averaging 668 pounds traded at 231.83 per hundredweight. Heifers’ averaging 623 pounds brought 217.01.

Barrows and gilts in the Iowa/Minnesota direct trade opened at 73.10 weighted average on a carcass basis, there was no trend as the market was not reported due to confidentiality on Thursday. The Western market was down 2.38 at 73.63, and nationally 1.30 lower at 73.27. Missouri direct base carcass meat price is steady from 70.00 to 72.00. Midwest hogs are lightly tested on Friday at steady prices from 46.00 to 58.00 live.

The pork carcass cutout value is down .85 at 85.38.

Average prices for beef and pork fell in grocery-store advertisements this week, according to the latest Wall Street Journal retail-meat survey. The 15-cut average for beef decreased to $5.62 a pound from $5.80 a pound last week and $5.91 a year earlier, the Journal survey found.

The five-cut average for pork prices slid to $2.95 a pound from $3.22 last week. Prices were lower than the $3.59-a-pound average a year earlier.

Chicken prices decreased as well.