Market News

Midday cash livestock markets

Cattle trading was light in Eastern Nebraska with light demand on Thursday. A few live and dressed sales were reported by USDA Mandatory at 134.50 and 215.00. Trading in all other areas was at a standstill and remains quiet so far on Friday. Asking prices are around 132.00 plus in the South, and 217.00 plus in the North. Packer inquiry should improve as the day progresses but significant trade may wait until after the release of the cattle on feed report this afternoon.

Boxed beef cutout values are lower in the morning report. Choice beef is down .19 at 222.09, select 215.56, down .21.

Slaughter cattle receipts at Sheldon, Iowa totaled 497 head on Thursday. The trend compared to last week was 1.00 to 2.00 higher on choice steers, 8.00 to 10.00 higher on the choice Holstein steers, and 1.00 2.00 higher on choice heifers. Demand was good on a steady offering. Choice 2-4 steers 127.00 to 132.50. Choice 2-3 Holsteins 100.00 to 114.00. Choice 2-4 heifers traded from 128.00 to 132.25.

Feeder cattle receipts at Missouri auctions this week totaled 33,775 head. Compared to last week, feeder steers and heifers sold steady to 5.00 higher, with some spots of 10.00 higher. The supply of feeders this week was moderate although locally some barns did see heavy supplies. The demand remains good to very good. Buyers do however remain aware of flesh conditions and the cattle that will gain weight quickly are most desirable, at least at this point there has not been the mindset occasionally seen in previous years where buyers fill trucks and get cattle bought regardless. Feeder steers medium and large 1 averaging 675 pounds brought 145.28 per hundredweight. Feeder heifers weighing 672 pounds averaged 130.77.

Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. Nationally the hog market is .56 lower at 64.47 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 58.00 to 62.00. Nationally the negotiated live price is .42 higher from 48.50 to 55.00,

The pork carcass cutout value is up 1.57 at 79.06 FOB plant. All cuts except the loin primal are higher.

Assuming a Saturday kill of 135,000 head, the weekly hog slaughter total should be close to 2.4 million head.

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