Market News

Midday cash livestock markets

There was a light to moderate trade in cattle country on Wednesday and Thursday. Northern dressed deals ranged from 152.00 to 155.00, mostly 154.00, and Southern live business was marked at 97.00 to 98.00. Asking prices on cattle left on the showlists are around 100.00 live and 156.00 dressed. It sounds like other than a little cleanup trade, business is essentially completed for the week.

Boxed beef cutout values are mixed in the morning report. Choice beef 182.57, up .97, select 172.18, down .43.

Feeder cattle receipts at Missouri Auctions totaled 20,604 head this week. Compared to last week, calves sold 5.00 to 10.00 lower, yearlings were steady to 5.00 lower, although some larger drafts of quality heifers especially those suitable for replacement sold fully steady. The supply of feeders was moderate. Feeder steers medium and large 1 averaging 572 pounds brought 127.69 per hundredweight. 572 pound heifers traded at 111.33.

Feeder cattle receipts at the Valentine, Nebraska livestock Auction totaled 4,380 head on Thursday. Compared with last week, 500 to 560 pound steers traded 19.00 to 25.00 lower and 450 pound heifers were 15.00 lower. Demand was moderate to good with a high demand for reputation Sandhill raised offerings. Feeder steers medium and large 1 averaging 579 pounds traded at 124.16 per hundredweight. 564 pound heifers brought 112.99.

Receipts at the St. Onge Newell Sheep Yards in South Dakota totaled 2794 head on Thursday. Feeder lambs were steady with last week with the exception of lambs weighing 80 to 90 pounds selling 2.00 to 7.00 higher. Feeder lambs weighing 90 to 1000 pounds sold steady with instances of 4.00 to 8.00 higher. Slaughter lambs wooled choice and prime weighing 125 pounds brought 130.00 per hundredweight. Feeder lambs medium and large 1-2 averaging 94 pounds averaged 148.69 per hundredweight.

The Rock Valley, Iowa Hay Auction had all classes of hay selling with a firm undertone. The quality of this week’s offering was mostly average. Premium quality alfalfa in large squares brought 100.00 to 120.00 per ton. Good large rounds at 77.00 to 90.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade are unchanged from Thursday’s close at 47.35 weighted average on a carcass basis, the West is up .03 at 47.32, and nationally the market is .54 lower at 45.44. Missouri direct base carcass meat price is steady from 38.00 to 40.00. Midwest hogs on a live basis are steady from 22.00 to 30.00.

The pork carcass cutout value is up 1.07 at 73.59 FOB plant.

Even with the all the East Coast problems linked to Hurricane Matthew this week, chances are the weekly hog slaughter will not be smaller than 2.37 million head, still 2% larger than 2015.

With the pork carcass value commanding nearly a $23.00 premium over the latest cash hog index, processing margins remain outstanding. As a result packers are eager to push through all the hogs they can find.