Market News

Midday cash livestock markets

USDA Mandatory is reporting in the Southern Plains on Wednesday cattle trade is active on very good demand. Compared to last week, early live sales are 5.00 higher from 124.00 to 125.00. A few early live sales in Nebraska have sold at 124.00, however not enough sales for an adequate market test. Trade remains mostly inactive on very good demand in all other trading regions as most producers continue to pass current bids.

Prices and the number of cattle sold on the Weekly Fed Cattle Exchange Internet Auction saw improvement over last week. 3,350 cattle were listed, and 3,065 head were sold. The weighted average price was $122.10 per hundredweight, about 300 head in Texas sold for as much as 124.50. Last week the average price was 118.77.

Boxed beef cutout values are higher in the morning report. Choice beef 194.18, up 2.37, and select 190.41, up .60.

Slaughter cattle receipts at the Manchester, Iowa Livestock Auction, INC totaled 407 head on Tuesday. Compared to last week, beef steers and heifers were $2.50 higher, and the Holstein steer market was stronger. High yielding prime and choice steers traded from 120.00 to 125.00. Heifers brought 120.00 to 123.75. The Holstein steers traded in a range of 85.00 to 92.00.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 3,888 head on Tuesday. Steer calves traded 2.00 to 3.00 lower than last week. Heifer calves were 2.00 lower to 2.00 higher. Yearling steers and heifers traded steady to firm. The demand was good on a moderate supply. Buyers seemed reluctant to go too far out on a limb in anticipation of Friday’s cattle on feed report. Feeder steers medium and large 1 averaging 637 pounds brought 138.20 per hundredweight. 669 pound heifers averaged 122.80.

Barrows and gilts in the Iowa/Minnesota direct trade are .84 lower at 72.91 weighted average on a carcass basis, the West is down .91 at 72.72, and nationally the market is 1.11 lower at 71.63. Missouri direct base carcass meat price is steady to 1.00 higher from 63.00 to 65.00. Midwest hogs on a live basis ae steady from 46.00 to 52.00.

The pork carcass cutout value is down 1.48 at 83.06 FOB plant. The belly primal is 10.09 lower in the morning report.

Negotiated hog receipts were again limited on Tuesday, a situation that could easily force packers to find more spending money in order to fund fairly aggressive slaughter plans through the remainder of the week.