Market News

Midday cash livestock markets

Cattle country is quiet, with a few scattered bids at 116.00 live and 186.00 to 188.00 dressed, following a light to moderate trade on Wednesday and Thursday. There are reports the Southern trade may be essentially complete for the week unless higher bids surface today. Asking prices on cattle left on the showlists are around 118.00 in the South, and 192.00 plus in the North.

The cattle on feed report is due out this afternoon at two-o-clock CDT. Pre-report estimates are, on feed numbers will be up two percent, placements ten percent higher, and marketing’s up five percent.

Boxed beef cutout values are mixed in the morning report. Choice beef is down 1.46 at 214.00, and select is .04 higher at 198.38

Valentine, Nebraska Livestock Auction had receipts of 3140 feeder cattle on Thursday. There has not been a recent test of the market for a price comparison. The demand was moderate to good with several buyers in the seats. Nearly 86 percent of the run weighed over 600 pounds. Feeder steers medium and large 1 averaging 788 pounds traded at 153.49 per hundredweight. 667 pound heifers averaged 150.12.

Weather allowed for most producers in Missouri to continue making hay this week. A pretty good storm line popped up in Northern Missouri this week and dropped 4-6 inches of rain, but most areas remain dry. With nearly 60 percent of the state showing up on the latest drought monitor. The supply of hay is moderate to heavy, demand is light and prices are steady. Supreme quality alfalfa from $180.00 TO 200.00 A TON. Good quality ranged from 150.00 to 190.00. Good quality mixed grass hay at 75.00 to 125.00.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality. Nationally the hog market is down 1.03 at 80.27 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 68.00 to 74.00. Midwest hogs on a live basis are steady from 49.00 to 60.00.

The pork carcass cutout value is unchanged from yesterday at 88.91 FOB plant.

Many analysts call for the pork cutout value to move to or above the $90.00 level in the coming weeks, with the belly complex likely to be the major driver as we move into the heart of the BLT season, according to John Harrington at DTN.

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