Market News

Midday cash livestock markets

A light cattle trade was reported by DTN in the South on Thursday morning, with most early sales at 133.00, as much as 3.00 lower than last week. Packer inquiry in the North is light to moderate with just a few deals reported. Sharply lower futures in the morning maybe working to soften country asking prices. Trade volume is expected to generally grow through the day. Asking prices seem rather fluid with some ideas around 136.00 in the South and 215.00 in the North.

Boxed beef cutout values mixed in the morning report, choice beef 217.20 down .99, select 214.75 up 1.13.

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 3870 head on Wednesday. Compared to two weeks ago, steers under 800 pounds sold steady, over 8.00 were mostly $2.00 to 5.00 lower, heifers were mostly steady. Demand was good for replacement heifers and moderate to good on all other classes of cattle. Some buyers in the central part of the state are concerned about how their pen conditions will be in the next several days as temperatures will be in the low 50s, and that will result in snow melting. Feeder steers medium and large 1 averaging 721 pounds brought 163.87 per hundredweight. 715 pound heifers traded at 147.75.

Slaughter cattle receipts totaled 717 head at the Tama, Iowa auction on Wednesday. Prices were not compared to last week as the sale was cancelled due to severe winter weather conditions. The trade was active with good demand. Slaughter steers choice 2-4 traded from 127.00 to 131.68. Holstein steers brought 118.00 to 125.50. Slaughter heifers ranged from 130.00 to 131.53.

Barrows and gilts in the Iowa/Minnesota direct trade opened .03 higher, the West was up .13 with both 63.11 weighted average on a carcass basis. Nationally the direct hog market is 61.90 down .41. Midwest hogs on a live basis are steady from 38.00 to 48.00.

For the week ending Feb. 6, Iowa barrows and gilts averaged 283.5 pounds, .6 pounds lighter than the prior week and 2.1 pounds smaller than 2015.

The pork carcass cutout value is 1.51 lower at 75.54 FOB plant. Hams are down 4.35.

Easter ham demand has probably peaked. Prices tend to decline from roughly five weeks out until the holiday weekend.

This week’s hog slaughter total is expected to come in between 2.24 and 2.25 million head. Weekly kill totals should start running below the 2.20 million mark by early March.