Market News

Midday cash livestock markets

Cattle country is slow getting started on Friday following a light to moderate trade in Parts of the North on Thursday. Cattle in Nebraska on a dressed basis traded from 221.00 to 224.00, mostly 222.00. Iowa also saw some trade at 222.00. The South was quiet yesterday, but USDA Mandatory is now reporting a light to moderate trade in Kansas today at 143.00 live, 3.00 lower than last week. Asking prices ae around 146.00 to 148.00 in the South and 226.00 plus in the North.

Boxed beef cutout values are mixed in the morning report. Choice beef is down .18 at 240.63, and select is up .71 at 229.15.

Denison, Iowa feeder cattle receipts on Thursday totaled 2503 head. Compared to the sale two weeks ago, steers and heifers weighing 700 to 900 pounds were 10.00 lower and cattle weighing less than 700 pounds had limited numbers two weeks ago. Feeder steers medium and large 1 averaging 732 pounds averaged 212.86 per hundredweight. 721 pound heifers traded at 195.29.

Barrows and gilts in the Iowa/Minnesota direct trade are .65 lower at 69.97 weighted average on a carcass basis, the West is down .66 at 60.02, and nationally the market is .32 lower at 69.53. Missouri direct base carcass meat price is steady from 61.00 to 62.00. Midwest hogs on a live basis are lightly tested and steady to 1.00 lower from 43.00 to 52.00.

The pork carcass cutout value FOB plant is down .25 at 85.00.

DTN reports, odds are starting to favor above normal corn and bean yields, likely to drive corn and meal sharply lower and thereby significantly stoke the fires of hog herd expansion.