Market News

Midday cash livestock markets

A moderate to active cattle trade developed in all areas on Thursday with Southern live sales 122.00 to 123.00, $3.00 to $4.00 higher than last week. While dressed business was generally $5.00 higher at 194.00 to 195.00. Asking prices on the limited amount of cattle left on the showlists are around 124.00 to 125.00 in the South, and 190.00 plus in the North.

Boxed beef cutout values are mixed with the choice beef down 1.36 at 190.24, the select is .49 higher at 187.98.

Feeder cattle receipts at Missouri auctions this week totaled 21,117 head. Compared to last week, feeder steers and heifers sold unevenly steady with some light weight steer calves firm later in the week. The supply of feeders was light to moderate and demand was moderate. The market had a very difficult time finding direction this week, due to poor weather conditions which limited offerings or caused some sales to cancel because of icy conditions. Feeder steers medium and large 1 averaging 672 steers brought 139.39 per hundredweight. Feeder heifers weighting 675 pounds brought 125.65.

Mitchell Livestock Auction at Mitchell, South Dakota had receipts of 7,177 head of feeder cattle on Thursday. Compared to last week feeder steers weighing less than 800 pounds were 5.00 higher. Heavier weights steady to 2.00 higher. Feeder heifers steady to 4.00 higher. Demand was good to very good, especially for long strings of reputation steers weighing over 1,000 pounds. Feeder steers medium and large 1 averaging 722 pounds brought 139.22 per hundredweight. 727 pound heifers brought 129.49.

Sheldon, Iowa slaughter cattle auction had receipts of 500 head on Thursday. Compared to last week, the market was 4.00 to 5.00 higher on choice steers, 2.00 to 3.00 higher on Holsteins, and 3.00 to 4.00 higher on slaughter heifers. Demand was good on a higher offering. Slaughter steers choice 2-4 from 119.50 to 121.29. Holstein steers choice 2-3 from 84.50 to 95.62. Slaughter heifers’ choice 2-4 from 119.00 to 120.77.

Barrows and gilts in the Iowa/Minnesota direct trade are unchanged at 63.48 weighted average on a carcass basis, the West is .14 lower at 63.29, and nationally the hog market is down .68 at 62.27. Missouri direct base carcass meat price is steady from 55.00 To 56.00.

The pork carcass cutout value is down .38 at 79.28 FOB plant.

Assuming finishing floors can’t get any more current than they are right now, the odds are greater that pork producers could slip behind in marketing over the next several months. This is especially true if winter weather continues to be disruptive. Premiums in deferred lean futures may not be helpful, according to John Harrington at DTN.

 

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