Market News

Midday cash livestock markets

Cattle country is quiet on Tuesday with bids and asking prices not established. A regional packer in Nebraska has bid 197.00 on a dressed basis according to private sources. Although the new showlists distributed on Monday were mixed in size, the reductions in Kansas and Texas were much larger than the increases.

Stocks of frozen beef as of April 30th were smaller than analysts anticipated, 452.3 million pounds, and three percent below the same time last year. The average estimate from two analysts was 459.8 million pounds.

Boxed beef cutout values are mixed in the morning report with the choice down .21 at 224.11, and select up 1.68 at 208.83.

Feeder cattle receipts at the Joplin Regional Stockyards on Monday totaled 5808 head. Compared to last week, steers and heifers sold weak to 5.00 lower, with spots of 5.00 to 8.00 lower. Most weights and classes of cattle found solid bottom side support but were not able to hit last week’s top prices. The supply and demand was moderate. Feeder steers averaging 614 pounds traded at 161.74 per hundredweight. 660 pound heifers brought 143.63.

Feeder cattle receipts at the Sioux Falls, SD Regional Livestock at Worthing totaled. 3082 head. Compared to last week feeder steers traded steady to 5.00 lower with some as much as 6.00 to 10.00 lower. Heifers were steady to 2.00 to 6.00 lower with some as much as 10.00 lower. The demand was moderate to good, with the best demand for load lots of steers weighing 900 to 950 pounds and heifers 750 to 800 pounds. Feeder steers averaging 821 pounds brought 144.5 per hundredweight. 821 pound heifers traded at 135.56.

At the Rock Valley, Iowa hay auction on Thursday, hay sold with lower undertones for all kinds and qualities. Grass sold with the best demand, but there was limited buyer interest overall. Large squares of premium alfalfa brought 147.50 per ton. Premium large rounds of grass traded at 125.00 to 152.50.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality. Western hogs are down .89 at 74.43 weighted average on a carcass basis, the national hog market is .94 lower at 73.68. Missouri direct base carcass meat price is steady from 64.00 to 69.00. Midwest hogs on a live basis ae steady from 46.00 to 60.00.

The pork carcass cutout value is down 1.14 at 83.01 FOB plant. Only ribs and loins were modestly higher in the morning report.

The supply of pork in freezers as of April 30 was somewhat above expectations at 635.4 pounds, compared to estimates of 633.7 million pounds. Additionally, frozen chicken stocks were reported at 896.1 million pounds, up five percent from the same time last year.

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