Market News

Midday cash livestock market

Feedlot operators continue to dig out from the severe storms that hit much of the main cattle production areas earlier in the week. Significant cash cattle trade could be delayed until sometime on Friday. Bids and asking prices are still not well defined, but a few steers and heifers have been priced around 140.00 to 142.00 in the South.

Boxed beef cutout values are higher in the morning report. Choice beef 233.43 up .86, select 218.80 up .78.

Feeder cattle receipts at the Springfield, Missouri Livestock Marketing Center totaled 2139 head on Wednesday. Compared to last week, steer calves weighing less than 450 pounds were steady, 450 to 650 pounds trended 2.00 to 6.00 lower, yearling steers traded steady to 2.00 higher. Heifers sold 5.00 to 10.00 lower. Demand and supply was moderate. Feeder steers medium and large 1 averaging 688 pounds averaged 163.53 per hundredweight. 529 pound heifers brought 160.54.

Cattle receipts at the Schuyler Livestock Auction at Rushville, Illinois totaled 386 head on Wednesday. Compared to last week, slaughter steers and heifers sold 1.00 to 2.00 higher. Trade was active with good demand. Slaughter steers choice 2-3 traded from 126.00 to 133.00. Heifers ranged from 127.00 to 131.50.

Fort Atkinson, Iowa Hay Auction had 28 consignors with 48 loads on Wednesday. The high again was small squares at $145.00 a ton. The prices were mostly steady to just a little stronger. Premium quality hay from 100.00 to 145.00 a ton, good 50.00 to 105.00, and utility at 60.00 a ton.

Barrows and gilts in the Iowa/Minnesota, Western and Eastern direct trade areas are not reported due to confidentiality. Nationally the hog market is .62 higher at 61.28 weighted average on a carcass basis. Missouri direct base carcass meat price is 2.00 higher from 50.00 to 57.00. Midwest hogs on a live basis are fully steady 36.00 to 42. All interests appear to be back in the market today.

The pork carcass cutout value is down .82 at 76.41 FOB plant. Ribs, loins and butts were all significantly lower.

For the week ending January 30^th, Iowa barrows and gilts averaged 284.1 pounds, .5 pounds higher than the previous week and 2.3 pounds less than last year.

The Saturday hog kill could be 25,000 head or better. Such eagerness to make-up for lost production due to the storm earlier in the week speaks highly of excellent packer margins and general confidence in product demand.