Market News

Midday cash livestock markets

There are just a few scattered bids on the cattle on Wednesday at 124.00 in the South. While packer inquiry is expected to improve as the day wears on, it is possible significant trade volume could be delayed until Thursday or later. Asking prices are around 128.00 to 132.00 in the South and 200.00 plus in the North. A light scattered trade was reported in parts of Nebraska on Tuesday at 196.00, $9.00 lower than last week’s weighted average.

Boxed beef cutout values are higher in the morning report. Choice beef is up 1.56 at 224.83, and select is .36 higher at 207.17.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 4447 head on Tuesday. Compared to last week feeder steer calves and yearling heifers were 5.00 to 15.00 lower with spots of 20.00 lower. Feeder heifer calves and yearling steers traded 3.00 to 10.00 lower. The demand was moderate on a heavy supply. Feeder steers medium and large 1 weighing 614 pounds averaged 153.48 per hundredweight. Heifers’ averaging 614 pounds traded at 140.23.

Fat cattle receipts at the Manchester, Iowa Livestock Auction totaled 454 head. Compared to last week, beef steers and heifers were 1.50 lower, Holstein steers were weaker. High yielding prime and choice steers ranged from 128.00 to 132.25. Heifers from 128.00 to 131.00. Holstein steers brought 116.00 to 121.50.

Barrows and gilts in the Iowa/Minnesota direct trade are down 1.71, the West is 1.67 lower with both at 73.17 weighted average on a carcass basis. Nationally the hog market is down 1.30 at 73.01. Missouri direct is base carcass meat price is steady to 1.00 lower from 64.00 to 68.00. Midwest hogs on a live basis are steady to 5.00 lower from 47.00 to 55.00.

The pork carcass cutout value FOB plant is up 1.08 at 84.31. Bellies and hams are lower, but all other cuts are higher.

The overall wholesale pork product values are expected to trend sideways heading into Memorial Day but gain significant momentum in June, moving toward the Fourth of July holiday weekend.