Market News

Midday cash livestock markets

There is not a lot of action in cattle country so far on Thursday following yesterday’s light to moderate business. Southern live trade was at mostly 138.00, generally $7.00 lower than last week. While the light Northern dressed trade ranged from 220.00 to 224.00, the higher end of that range was done by regionals. Asking prices on cattle still on the showlists are around 140.00 plus in the South, and 228.00 plus in the North.

Boxed beef cutout values are higher in the morning report. Choice boxed beef 247.39, up 2.81, select 227.28, up 2.66.

Feeder cattle receipts at the Springfield, Missouri Livestock Marketing center totaled 2875 head on Wednesday. Compared to last week, steer calves under 550 pounds, and heifer calves under 450 pounds were 8.00 to 14.00 lower, heavier weight calves were 1.00 to 8.00 lower, following last week’s sharply higher trend. There were not enough yearlings last week for a price comparison, but the undertone was lower. Demand was moderate on a heavy supply. Feeder steers medium and large 1 weighing 576 pounds averaged 161.87 per hundredweight. Feeder heifers weighing 566 pounds traded at 147.16.

Sheep receipts at Kalona, Iowa totaled 800 head. Compared to last Wednesday, slaughter lambs were steady with a weaker undertone, feeder lambs were steady. Trade was active with good demand. Slaughter lambs wooled choice and prime 2-3 weighing 78 pounds brought 215.00 per hundredweight. Feeder lambs medium and large 1 weighing 52 pounds brought 229.18. Goat receipts totaled 394 head and the trade was active with good demand. Slaughter kids selection 1 weighing 63 pounds traded at 170.00 per head. Feeder kids’ selection 1 weighing 47 pounds averaged 90.97 per head.

Barrows and gilts in the Iowa/Minnesota and the Western direct trade are not reported due to confidentiality. The national direct trade is reported at 68.53, down .89 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 52.00 to 62.00. Midwest hogs on a live basis ranged from 44.00 to 48.00, steady to 1.00 higher.

The pork carcass cutout value is down .29 at 80.83 FOB plant.

For the week ending May 6, Iowa barrows and gilts averaged 283 pounds, 1.5 pounds lighter than the prior week and .2 pounds smaller than 2016.

The cash hog index is coming on like gangbusters, if such aggressive appreciation continues, and with spot May expiring on Friday, June could soon feel a fire under its feet.