Market News

Midday cash livestock markets

There are a few starter bids in cattle country on Wednesday at 122.00 live in the South. Asking prices are around 128.00 in the South and 204.00 plus in the North. It will be interesting to see if the Fed Cattle Exchange Internet auction gets the trade rolling as it has done for the last couple of weeks. The Exchange had 4,763 head listed for the auction today and 3,350 were sold. The weighted average was 128.39, last week’s average was 123.69. Some Nebraska cattle sold for as much as 131.50.

Boxed beef cutout values are mixed in the morning report with choice 221.25, up 1.11, select 213.32, down .67.

Manchester, Iowa Livestock Auction, INC. had receipts of 442 head of fat cattle on Tuesday. Compared to last week, beef steers and heifers trended 1.00 higher, Holstein steers 3.00 higher. High yielding prime and choice steers ranged from 129.00 to 135.75. Holstein steers 05.00 to 101.25. Heifers 129.00 to 134.75.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 2,469 head. Compared to last week, the bulk of the steers and heifer calves traded steady to 2.00 higher with a few spots of 5.00 higher. There were too few yearlings for an adequat4e comparison, however undertones were steady to firm. Demand was good on a moderate supply. Feeder steers medium and large 1 averaging 581 pounds brought 151.44. 566 pound heifers brought 131.93.

Barrows and gilts in the Iowa/Minnesota and Western direct trade are not reported due to confidentiality. Nationally the direct hog market is .34 lower at 66.21.The Missouri direct base carcass meat price is steady from 56.00 to 61.00. Midwest hogs on a live basis are steady to a 1.00 higher from 43.00 to 51.00.

The pork carcass cutout value is .06 higher at 82.82 FOB plant. The belly primal is $6.69 higher.

Even if hog slaughter eas4es a bit over the next 2-4 weeks, commercial tonnage should remain as great or greater given the seasonal tendency of carcass weights to gradually increase from now into mid-April.