Market News

Midday cash livestock markets

Action in cattle country is slow to start on Thursday following a light to moderate trade Wednesday, with Southern live deals at mostly 115.00, fully steady with Tuesday’s limited trade, but generally $4.00 to 5.00 lower than last week. Northern dressed trade ranged from 184.00 to 186.00. $9.00 to 11.00 lower than last week’s weighted average basis Nebraska. Asking prices on cattle remaining on the showlists are around 118.00 plus live, and 189.00 plus dressed.

Boxed beef cutout values are mixed in the morning report. Choice is down .96 at 88.31, and select is .60 higher at 198.95.

Feeder cattle receipts at the Green City, Missouri Livestock Auction totaled 3375 head on Wednesday. Feeder steers and heifers traded mostly 5.00 to 10.00 lower on a limited number of comparisons with the market three weeks ago. Instances 15.00 lower on some lighter weight steer calves. There were several large strings in the offering with a good mix of both calves and yearlings. Demand was moderate and the supply was moderate to heavy. Feeder steers medium and large 1 averaging 626 pounds brought 150.82 per hundredweight. 764 pound heifers averaged 136.00.

Sheep receipts at the Sioux Falls Regional Livestock Market at Worthing, South Dakota totaled 1426 head on Wednesday. Compared to last week, slaughter lambs were mostly 4.00 to 5.00 lower. Slaughter ewes mostly steady. Feeder lambs sold with stronger undertones in a narrow comparisons. There was good demand for slaughter lambs and slaughter ewes, very good demand for feeder lambs. Slaughter lambs wooled and shorn choice and prime averaging 140 pounds brought 167.10 per hundredweight. Feeder lambs medium and large 1-2 weighing 82 pounds traded at 186.92 per hundredweight.

The hay market at the Dyersville, Iowa Sales Company was weak to $20.00 a ton lower on Wednesday. The market received about two inches of rain at the auction which hurt the hay that got wet especially the big squares. The top on big squares was $105.00 a ton, non-dairy quality with the wet and damaged squares selling from 40.00 to 65.00. Round bales topped at 85.00 a ton, with the bulk of the new crop from 50.00 to 65.00. Overall hay quality was not great with no dairy hay offered. In Eastern Iowa there is still some first crop yet to be harvested, and some second crop has been started.

Missouri direct base carcass meat price is steady from 68.00 to 74.00. Midwest hogs were steady to 2.00 to 4.00 higher from 53.00 to 60.00. Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality. Western trade is down .44 at 81.70, and the national market was 1.04 lower at 80.14.

The pork carcass cutout value was .96 lower at 88.31 FOB plant. Only the bellies were moderately higher.

For the week ending June 18, barrows and gilts averaged 279.2 pounds, 2.7 pounds lighter than the previous week, and only 2 pounds smaller than 2015.

Allendale Inc. estimates the all hog numbers on June 1 at 100.5 percent. Kept for breeding at 99.7 percent, and kept for marketing at 100.5 percent. The quarterly hogs and pigs report is set for release Friday afternoon at 2:00 CDT.