Market News

Midday cash livestock markets

The Fed Cattle Exchange Internet auction had listings of 3,963 cattle on Wednesday with 1,898 actually sold. The weighted average price was 131.37, down 5.33 from last week’s weighted average of 136.50. With the lower prices on the Exchange it may not be the boost feedlot operators were looking for to jump start the cash cattle trade today. A few early asking prices have been noted around 132.00 to 133.00 in the South and 215.00 in the North.

Boxed beef cutout values are lower in the morning report with choice beef down .50 at 219.07, and select 211.77 down 1.25.

Fat cattle receipts at the Manchester, Iowa Livestock Auction, INC, totaled 645 head on Tuesday. Compared to last week, beef steers and heifers were $1.00 lower, Holstein steers trended steady. High yielding choice and prime steers traded from 132.00 to 135.75. Holstein steers brought 99.00 to 105.75. Beef heifers traded from 132.00 to 137.50.

The Ozarks regional Stockyards at West plains, Missouri had 3,408 cattle on Tuesday. Compared to last week steer calves trended steady to 5.00 higher. Heifer calves and yearling steers and heifers were steady to 2.00 lower. Demand was good on a moderate supply. Feeder steers medium and large 1 averaging 616 pounds traded at 150.60 per hundredweight. 621 pound heifers brought 130.06.

The Buffal0 Livestock Market at Buffalo, Missouri had their monthly sheep and goat auction on Tuesday with 832 head offered. The supply and demand was good with a near standing room only crowd on hand. Slaughter lambs were 20.00 lower than last month. The goat market remained mostly steady. Feeder lambs large 1 weighing 30 to 39 pounds brought 230.00 to 245.00 per hundredweight. Slaughter hair lambs choice weighing 40 to 78 pounds traded from 220.00 to 228.00. Feeder kids selection 1, 23-35 pounds from 280.00 to 290.00 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality, nationally the hog market is .37 lower at 62.94 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 55.00 to 58.00. Midwest hogs on a live basis are steady to 1.00 lower from 39.00 to 48.00.

The pork carcass cutout value is down 1.84 at 75.77 FOB plant. All cuts are lower.

Given the persistence of decent pork packing margins, there is plenty of incentive to run large slaughter schedules as long as hogs remain available.