Market News

Midday cash livestock markets

Packer inquiry in the cattle has been light so far on Friday. A few bids have been reported by private sources at 184.00 dressed in Nebraska and 118.00 live in Kansas. Trade volume looks light, suggesting the possibility of more cash business through the day. Yet this has become an extremely strange market with a severe lack of confidence from both buyers and sellers. Some showlists are priced around 125.00 in the South and 190.00 plus in the North.

Boxed beef cutout values are mixed with the choice beef down .80 at 206.75, and select .17 higher at 203.38.

Feeder cattle receipts at the Valentine, Nebraska Livestock Auction totaled 3871 head on Thursday. No recent test of the market for an accurate comparison a trend was not given for steers or heifers. Demand was good with several buyers in the seats. Feeder steers medium and large 1 averaging 778 pounds brought 194.89 per hundredweight. 634 pound heifers traded at 189.90.

Barrows and gilts in the Iowa/Minnesota direct trade are .30 lower with a weighted average of 71.45 on a carcass basis, the West is .29 lower at 71.18, and nationally hogs are down .82 at 70.19. Missouri direct base carcass meat price is steady to 1.00 higher from 44.00 to 54.00. Midwest hogs on a live basis are lightly tested at steady prices from 44.00 to 54.00.

The pork carcass cutout value FOB plant is up .10 at 86.51.

Big hogs runs continue and DTN predicts the Friday kill at 420,000 head, with Saturday expected to be a slaughter of 134,000 head.