Market News

No cattle sales reported

Cattle country remained relatively quiet on Friday afternoon with a few bids reported in Kansas at 124.00 live. In Nebraska and Iowa private sources reported bids of 195.00 dressed, and 124.00 live. The only cattle trade reported so far this week was in the North on Wednesday at 195.00 dressed. The expectation is some cattle trade will surface sometime today, but it could be late afternoon. The weekly kill was estimated at 462,000 head, 3,000 more than the previous week, and 5,000 less than 2014.

Boxed beef cutout values ended firm to higher on moderate to fairly good demand and light offerings. Choice beef up .31 at 204.40 and select up 1.74 at 195.50.

Live cattle contracts on the Chicago Mercantile Exchange settle higher in the abbreviated Friday session. Buying interest waxed and waned through the session. Front month futures seemed to bet on the eventuality of greater packer spending in the country, but no cash trade was reported before the close. December was up .87 at 131.82, and February was .72 higher at 133.88.

Feeder cattle ended the session higher and followed the general pattern in the live market. Trade volume was very light. January was up 1.05 at 166.02, and March was .55 higher at 163.67.

Feeder cattle receipts at Missouri auctions this week totaled 21,287 head. Compared to last week, feeder steers and heifers traded steady to firm. While several barns took off for the holiday week, there was still a good supply of feeders traveling to and from the sale barns. Feeder prices were trying to gain some ground in the sale barns after several months of lower trends. While feeders are selling slightly higher, buyers are still conscious of quality. Feeders with excess flesh saw some discounts as the winter months approach. Feeder steers medium and large 1 averaging 629 pounds averaged 177.50 per hundredweight. 620 pound heifers brought 165.88.

Lean hogs settled lower and were pressured early by long liquidation and late week profit taking, and signs of struggling product demand. December was down .75 at 58.72, and February was .40 lower at 57.67.

Barrows and gilts in the Iowa/Minnesota direct trade closed .32 lower at 51.57 weighted average on a carcass basis, the West was .29 lower at 51.40, and nationally the market was up 1.75 at 50.78.Missouri direct base carcass meat price closed steady at 43.00. No terminal hogs reported due to the holiday.

Feeder pigs nationally this past week totaled 67,440 head. Early weaned pigs were 4.00 a head higher. All feeder pigs traded at steady prices. The demand was moderate for moderate offerings. Early weaned pigs, 10-12 pound basis from 31.00to 41.00 per head. 40 pound pigs from 38.00 to 47.00. Prices are quoted on a per head basis delivered to the buyer’s farm. These prices include freight and fees on a farm to farm basis

The pork carcass cutout value was up 68 at 72.40 FOB plant.

Last week Iowa/Minnesota direct trade hogs averaged 284.3 pounds, .6 pounds heavier than the prior week and 0.3 pounds larger than 2014.

The weekly hog kill was estimated at 1,752,000 head, 433,000 less than last week, but 52,000 greater than last year.

 

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