Market News

Midday cash livestock markets

DTN is reporting a few scattered bids on cattle from 113.00 to 114.00 live and 183.00 on a dressed basis. Some asking prices are stated from 118.00 to 120.00 in the South, and 190.00 in the North. There are reports of a regional packer bidding 117.00 picked up in Eastern Iowa, but that cannot be confirmed at the current time. While packer inquiry is improving, it is possible significant trade volume could be delayed until sometime Friday.

Boxed beef cutout values were lower in the morning report. Choice beef down .08 at 199.00, select .30 lower at 189.75.

Feeder cattle receipts at the Bassett, Nebraska Livestock Auction Market totaled 2425 head on Wednesday, Compared with two weeks ago 800 pound steers traded 4.00 higher, 950 to 1,000 pounds were steady to 3.00 higher. 650 to 800 pound heifers were unevenly steady. There was a high demand for replacement quality Sandhill raised heifers. 519 head of feeder steers medium and large 1 weighing 968 pounds averaged 141.34 per hundredweight. 80 head of 929 pound replacement heifers average 141.50.

Kalona, Iowa sheep and goat auction had no trend as the sale was last reported three weeks ago. Trade was active with good demand. Slaughter lambs shorn choice and prime 2-3 weighing 115 pounds brought 156.22 per hundredweight. Feeder lambs medium and large 1-2 weighing 46 pounds traded at 179.93 per hundredweight. The goat trade was active with very good demand. Slaughter kids selection 1 weighing 64 pounds traded at 146.52 per hundredweight. Feeder kids selection 2-3 weighing 61 pounds averaged 94.57.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality. Nationally the hog market is 2.24 lower at 65.67 weighted average on a carcass basis. Missouri direct base carcass meat price is steady to 1.00 lower from 63.00 to 66.00. Midwest hogs on a live basis were fully steady from 40.00 to 50.00.

The pork carcass cutout value is up .55 at 83.04 FOB plant. Bellies are up 4.65.

For the week ending July 23, Iowa barrows and gilts averaged 277.3 pounds, .4 pounds lighter than the previous week. And .5 pounds below 2015.

The pork carcass value continued to implode at midweek, driven sharply lower by a collapsing belly trade.