Market News

Midday cash livestock markets

USDA Mandatory reported cattle trading and demand was moderate in Kansas and the Texas Panhandle on Thursday. Compared to last week, live sales were 5.00 to 7.00 lower at 125.00. In the Northern Plains trade was light to moderate on moderate demand. In Nebraska a few live cattle sold from 124.00 to 125.00 and a few dressed sales from 197.00 to 198.00. Live sales in Colorado sold mostly $5.00 lower than the bulk of sales the previous weeks offering at 125.00. The Western Cornbelt had a few dressed sales at 197.00.

Boxed beef cutout values are lower, choice beef is down .41 at 222.31, and select is down 1.53 at 201.73.

Feeder cattle at Missouri auctions this week totaled 30,691 head. Compared to the previous week, feeder steers and heifers sold mostly weak to 10.00 lower. The increased placements in the monthly cattle on feed report indicate there will be additional cattle available on a long term basis causing traders to become uneasy that demand may be waning with the increased supply. After futures declined so quickly, followed by beef cuts and other prices, buyers in the sale barns continued the trend. They looked at the cattle more closely and made sure they did not give any more than they had to give. Feeder steers medium and large 1 weighing 623 pounds averaged 158.09 per hundredweight. 622 pound heifers averaged 140.24.

The Buffalo, Missouri Livestock Market had receipts of 1124 head of sheep and goats for their monthly sale this week. The supply nearly doubled from last month with a standing room only crowd. The markets were mostly steady with the exception of feeder and slaughter lambs which fell mostly due to the large number on hand. Feeder lambs good 2-3 weighing 34 pounds traded from 180.00 to 192.50 per hundredweight. Choice and prime 2-3 slaughter lambs weighing 80 to 90 pounds brought 159.00 to 170.00. Selection 1 feeder kids weighing 31 to 38 pounds traded from 260.00 to 280.00 per hundredweight.

At the Rock Valley, Iowa Hay Auction on Thursday the hay market continued to sell with lower undertones, for all kinds and qualities, both old and new crop. Several loads of new crop alfalfa sold, however high moisture concerns reduced the demand. Good large squares of alfalfa brought 110.00 per ton. Large rounds of premium grass traded from 122.50 to 140.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality, the five day rolling averages at 74.48, and 74.42. Nationally the hog market is 1.23 lower at 73.66 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 64.00 to 68.00. In the Midwest market only Peoria is open with a steady market from 45.00 to 47.00 live basis.

The pork carcass cutout value is down .41 at 222.31 FOB plant. Bellies are 2.65 higher.

The belly primal took back all of its midweek drop on Wednesday reaching the $106.00 level. The highest it has been in two weeks. Bellies slipped some on Thursday but an uptrend remained quite evident. Prices are forecast to move higher after Memorial Day as production ramps back up for summer retail promotions.