Midday cash livestock markets
Just a few scattered bids on the cattle at lower money were reported in Kansas and Nebraska on Friday morning. Most areas probably need to move more cattle as trade volume totals look no better than moderate. But psychology is so off that both sides may be tired of negotiation and may throw in the towel and call it a week. Best guess for asking prices today are that they are around 130.00 live and 210.00 plus dressed.
Boxed beef cutout values are mixed, choice beef is up .13 at 247.87, and select is .86 lower at 219.67.
Feeder cattle receipts at Missouri auctions this week totaled 21,080 head. Compared to last week, feeder steers sold 5.00 to mostly 10.00 lower, heifers were down 2.00 to 8.00. The supply of feeders was light to moderate following the previous week’s heavy offering. Many farmers were back in the fields, haying and harvesting wheat. Combined with lower markets and heat there was enough to discourage big runs of feeder cattle. Feeder steers medium and large 1 averaging 671 pounds brought 158.68 per hundredweight. 674 pound heifers average 144.91.
Rock Valley, Iowa Hay Auction had 103 loads on Thursday. Compared to last week, alfalfa hay was mostly steady to weak, bedding was higher. Overall quality was not as attractive as the previous weeks offering. Premium large squares of alfalfa 142.50. Good large rounds and squares 105.00 to 130.00 per ton. Good large rounds of grass 85.00 to 100.00 per ton.
Barrows and gilts in the Iowa/Minnesota direct trade are .22 lower at 84.50 weighted average on a carcass basis, the West is down .33 at 84.33, and nationally the market is down .15 at 83.82. Missouri direct base carcass meat price is steady to 2.00 higher from 70.00 to 74.00.
The pork carcass cutout value is up .65 at 95.55 FOB plant. The belly primal is up 3.52.
Cash hog prices once again exploded higher on Thursday as well margined packers continued to chase smaller offerings. The cash index has now gone premium to spot July, a fact that should discourage further selling interest in nearby futures.
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