Market News

Midday livestock markets

There are a few starter bids on the cattle being reported by DTN at 143.00 to 144.00 in Kansas, and dressed bids of 223.00 to 225.00 in Nebraska. Packer inquiry is expected to improve as the day progresses. Asking prices around 146.00 to 148.00 in the South and 228.00 plus in the North.

Boxed beef cutout values are lower, the choice is down .78 at 240.19, and select is 1.02 lower at 228.10.

Feeder cattle receipts at the Springfield, Missouri Livestock Marketing Center totaled 1259 head on Wednesday. Compared to last week, steer and heifer calves and yearlings were steady. Not enough Holsteins for a good market test. The demand and supply were moderate. The sale was highlighted with three pot loads of yearlings off one ranch. Feeder steers medium and large 1 averaging 825 pounds averaged 197.00, per hundredweight. 683 pound heifers traded at 194.28.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.17 lower at 70.43 weighted average on a carcass basis, the West is 1.07 lower at 70.32, and the national hogs are 1.08 lower at 69.85.Missouri direct base carcass meat price is 2.00 lower from 61.00 to 62.00. Midwest hogs on a live basis are steady from 47.00 52.00. With just a couple of markets reporting.

The pork carcass cutout value is down .04 at 85.90 FOB plant. Loins and bellies are significantly higher, but ribs are down over 6.00.

For the week ending August 29, the average live weight of Iowa barrows and gilts drifted a little lower to 277 pounds, .2 pound lighter than the prior week and 3.6 pounds smaller than 2014. Not a big week-to-week change, but resisting the strong seasonal trend toward heavier weights at this time of year gets very tough.

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