Market News

Midday cash livestock markets

Except for a few bids on the cattle in the South at 113.00 live, and in the North at 180.00 dressed, cattle country is very quiet on Friday. There should be more trade today in the North, but it is sounding like business in the South could be essentially done for the week.

Boxed beef cutout values are mixed in the morning report. Choice beef is down .34 at 200.36, and select is .14 higher at 189.95.

Feeder cattle receipts at Missouri auctions this week totaled 11,332 head. Compared to last week, an extremely light test of feeders sold steady to 5.00 lower. The week was dominated by excessive heat that overtook most of the nation. Cattle struggle and there really isn’t much one can do but leave them alone. Auction receipts were light and several barns did not even hold sales. Owners do not want to hassle livestock and buyers know health risk and loss is a huge concern trying to transport and get cattle settled in a new home in these conditions. Feeder steers medium and large 1 averaging 675 pounds brought 147.94 per hundredweight. 668 pound heifers traded at 134.47.

Feeder cattle receipts at the Mitchell, South Dakota Livestock Auction totaled 1147 head on Thursday. Compared to two weeks ago, high heat decreased the offerings, and demand this week, but large consignments of high quality Holstein steers were available for purchase. Prices were 5.00 to 10 lower than two weeks ago. Feeder steers medium and large 1 averaging 992 pounds brought 125.60 per hundredweight. 837 pound Holstein steers averaged 102.21. Feeder heifers’ medium and large 1 weighing 738 pounds traded at 130.00.

Thunderstorms across Iowa interfered with hay making all week long. Northeast Iowa continues to have trouble drying out. The availability of wet hay continues to force prices lower on all grades. Except for premium, which maintains its value. Premium small squares of alfalfa brought $240.00 to 260.00 per ton. Good small squares at $165.00. Good small squares of alfalfa/grass at $115.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade are .82 lower at 69.49 weighted average on a carcass basis, the West is .54 lower at 69.55, and the national market is .93 lower at 68.95. Missouri direct base carcass meat price is steady to 1.00 lower from 65.00 to 66.00. Midwest hogs on a live basis are steady to 2.00 lower from 40.00 to 54.00 in a light test.

The pork carcass cutout value is down .46 at 89.37 FOB plant.

Actual pork exports last week were up thirty-percent from the previous week, and nine-percent more than the prior four week average. Primary destinations were Mexico, Japan, China, Canada and South Korea.