Market News

Midday cash livestock markets

There was a moderate to active cattle trade on Wednesday. Southern live trade ranged from 128.00 to 128.50, mostly 128.00, $3.00 to 4.00 higher than last week’s weighted average. Northern dressed deals were mostly at 210.00, $8.00 to 9.00 higher than last week’s weighted average basis Nebraska. While it is possible that we may see a little clean up and carryover trade today, it is sounding like business could be essentially completed for the week. Asking prices on the few cattle left on the showlists are around 130.00 plus in the South, and 212.00 plus in the North.

The boxed beef cutout value is higher in the morning report. Choice beef 222.44, up 1.12, select 213.80, up .66.

Slaughter cattle receipts at the Sioux Falls Regional Livestock at Worthing, South Dakota totaled 669 head. Compared to last week slaughter steers sold 5.00 higher in a narrow comparison, heifers were very lightly tested with firmer undertones noted. Holstein steers were 7.00 to 10.00 higher. Demand was good as readily available supplies of fed cattle are tight. Choice 2-3 steers brought 129.95 to 130.50. Choice 2-3. Holstein steers traded from 99.00 to 104.50. Choice 2-4 heifers from 123.00 to 128.00.

Feeder cattle receipts at the St. Joseph, Missouri Stockyards totaled 2174 head on Wednesday. Compared to last week steers and heifers traded 2.00 to 5.00 higher with the higher prices paid on 450 to 550 pound steers. The demand was good on all classes of cattle as overall quality was good to very good. Feeder steers medium and large 1 averaging 734 pounds brought 138.23 per hundredweight. 630 pound heifers brought 132.50.

At Kalona, Iowa sheep receipts totaled 318 head. There was no price comparison due to a limited test two weeks ago. The trade was active with moderate demand. Slaughter lambs shorn choice and prime 2-3 weighing 56 pounds brought 275.45 per hundredweight. Feeder lambs weighing 50 pounds 272.50 per hundredweight. Goat receipts totaled 148 head. There were light offerings with fairly good demand. Slaughter kids selection 1 weighing 51 pounds brought 172.88 per head.

Barrows and gilts in the Iowa/Minnesota direct trader are 2.43 lower, the West is down 2.40 and both are at 65.01 weighted average on a carcass basis. Nationally the hog market is down 1.67 at 65.10.   Missouri direct base carcass meat price is steady from 58.00 to 61.00. Midwest hogs on a live basis are steady from 43.00 to 51.00.The pork carcass cutout value is down .72 at 81.46.

Though the pork carcass stumbled a bit on Wednesday, the cutout should have an upward seasonal bias over the next several weeks, even possibly getting above $87.00 before the end of April.