Market News

Midday cash livestock markets

The main item of business in cattle country on Monday is the collection of the new showlists. Last week’s cattle trade started on Tuesday with prices dropping as the week progressed. There was a a light trade in Colorado on Tuesday at 125.00, $5.00 lower than the previous week, Wednesday’s business was in Kansas, Nebraska and Iowa with live sales in Kansas at 123.00, $5.00 lower than the previous week, dressed Northern deals ranged from 197.00 to 198.00, $7.00 to 8.00 lower than the previous weeks weighted average basis Nebraska. By Thursday Southern business had dropped to 120.00 to 121.00. Nebraska moved cattle at 193.00 to 196.00, while Iowa saw trade from 190.00 to 195.00. By Friday live sales moved at 119.00, and dressed sales from 191.00 to 192.00.

Boxed beef cutout values are mixed in the morning report. Choice beef is down .49 at 221.34, and select is .58 higher at 200.19.

Feeder cattle receipts at the Ft. Pierre, South Dakota Livestock Auction totaled 3996 head. Compared to two weeks ago, the best comparison was on steers and heifers weighing over 600 pounds, 5.00 to 10.00 lower. Demand was much lighter than two weeks ago as the cattle futures contracts have retracted considerably from the levels they were, cash fed cattle have pulled back into unprofitable levels for cattle feeders again. Feeder steers medium and large 1 averaging 914 pounds brought 140.74 per hundredweight. 677 pound heifers at 151.65.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality, the five day rolling average is 80.23. Western hogs are not reported. Nationally the hog market is .31 lower at 79.30 weighted average on a carcass basis. The Missouri direct base carcass meat price is steady from 68.00 to 73.00. Midwest hogs on a live basis opened steady to 1.00 higher from 48.00 to 58.00.

The pork carcass cutout value is up .74 at 88.44 FOB plant. Only ribs and picnics lower.

With the June 1 hogs and pigs report set for release on Friday, a large wave of commercial selling could be seen this week at the Chicago Mercantile Exchange, especially given the boards rally over the last thirty days.

While the seasonal tendency is for cash hog values to strengthen over the next several weeks, the premium built into the August lean hog contract typically is a sideways to lower seasonal pattern.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!