Market News

Midday cash livestock markets

DTN is reporting the first bid of the week on cattle at 188.00 to 190.00 in Nebraska on Wednesday, but the rest of cattle country is very quiet. A few steers and heifers in Texas have been priced at 127.00, but other areas are still holding off with asking prices.

Choice boxed beef in the morning report 208.16, down .02, select 196.22, down .80.

Feeder cattle receipts at the Ozarks regional Stockyards at West Plains, MO totaled 2594 head on Tuesday. Compared to last week, feeder steer and heifer calves under 550 pounds traded steady to 6.00 higher while heavier weight calves traded steady to 5.00 lower. With too few yearlings to compare, the undertone for yearling steers was steady to firm while yearling heifers were lightly tested. Demand was very good especially on several packages of high quality replacement heifers. Feeder steers medium and large 1 averaging 520 pounds traded at 174.92 per hundredweight. 601 pound replacement heifers traded at 162.24.

Fairview Sale barn at Fairview, IL had 735 head of slaughter cattle on Tuesday. Compared to two weeks ago, slaughter steers and heifers sold 15.00 to 16.00 lower. Slaughter cows were 2.00 to 4.00 higher. The trade was active with moderate to good demand. Slaughter steers choice 2-4 from 115.00 to 124.75. Heifers brought 110.50 to 122.75. Premium slaughter cows traded from 91.00 to 107.00.

Barrows and gilts in the three major direct trade areas are not reported due to confidentiality. Nationally the hog market is 1.38 lower at 68.41 weighted average on a carcass basis. The Missouri direct base carcass meat price is steady to 1.00 higher from 59.00 to 65.00. Midwest hogs on a live basis are steady in a range of 41.00 to 55.00.

The pork carcass cutout value is down .37 at 82.20 FOB plant. The belly primal is over $15.00 lower.

The cash hog trade seems to be firmly in the seasonal groove, one that should generally last through midsummer. Specifically, the cash index has now scored decent gains for 11 consecutive business days.

It sounds like this week’s hog slaughter could end up being larger rather than smaller thanks in part to Smithfield’s plans to run its Tar Heel, North Carolina plant as many as six days, as opposed to only four last week. If the total kill approaches 2.22 million head, it would exceed the prior week by 4% and the previous year by more than 5%.