Market News

Midday cash livestock markets

Trade volume in feedlot country was relatively limited on Friday and that probably means this week’s showlists will be generally larger than last week. Bids and asking prices are not well defined, but a few asking prices have been estimated at 122.00 in the South, and 192.00 plus in the North.

Boxed beef cutout values are mixed in the morning report. Choice beef 191.77, up .38, select 187.17, down .29

At the Sioux Falls Regional Stockyards at Worthing South Dakota feeder cattle receipts totaled 4081 head on Monday, Compared to last week, feeder steers trended steady to 5.00 higher. Heifers were steady to 5.00 higher with instances of up to 8.00 higher. Demand was good to very good for a large offering of long time weaned spring born calves and yearling cattle. Cattle were carrying mostly moderate flesh. It was an active market despite freezing rain and questionable road conditions across much of the area. Feeder steers medium and large 1 averaging 671 pounds traded at 144.01 per hundredweight. 674 pound heifers averaged 132.75.

Sheep receipts at the St. Onge-Newell Sheep Yards at Newell, SD totaled 823 head last week. This is the first sale reported since before the holidays. Feeder lambs weighing 90 to 100 pounds sold 3.00 higher than the last report, 110 to 120 pounds were 15.00 to 17.00 higher. Slaughter ewes sold 10.00 to 15.00 higher than the last report. Slaughter ewes, good 2-3 weighing 175 brought 79.00 per hundredweight. Feeder lambs medium and large 1-2 weighing 112 pounds traded at 166.91 per hundredweight.

The Iowa hay market last week saw slower demand due to inclement weather. The supply of hay is adequate to cover needs and bringing steady prices. Premium alfalfa in small squares brought 240.00 per ton. Good large squares from 120.00 to 130.00. Good large rounds of grass traded from 60.00 to 70.00 per ton. Small squares of oat straw brought 105.00 to 130.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade are .07 lower at 62.84 weighted average on a carcass basis, the West is .11 higher at 62.84, and nationally the hog market is 61.71, down .25. The Missouri direct base carcass meat price is 2.00 to 3.00 higher from 54.00 to 55.00. In the Midwest on a live basis only Zumbrota, Minnesota is reporting hogs 2.00 higher at 38.00. Other markets are closed due to inclement weather.

The pork carcass cutout value was 1.70 lower at 78.24 FOB plant.

Monday’s hog slaughter was somewhat lighter tied to the Martin Luther King Observance. Given the fact that processing margins remain very profitable, the assumption can be made that packers will once again put together a fairly aggressive Saturday kill.