Market News

Midday cash livestock markets

The Fed Cattle Exchange Internet Auction on Wednesday had 2148 cattle listed, but only 457 head sold. The weighted average price was 123.00. The sale was not held last week due to issues with the website. There are just a few bids on the cattle being reported in Kansas at 123.00. While asking prices are not fully established some steers and heifers in the cash trade are said to be priced around 125.00 to 127.00 in the South.

Boxed beef cutout values are lower in the morning report. Choice is down .96 at 246.03, and select is .19 lower at 219.69.

Slaughter cattle receipts at the Manchester, Iowa Livestock Auction on Tuesday totaled 807 head. Beef steers and heifers were 8.00 lower than last week. Holstein steers trended 3.00 lower. High yielding prime and choice steers ranged from 128.00 to 134.50. Heifers brought 128.00 to 132.25. Holstein steers traded from 107.00 to 111.00.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 4081 head. Feeder calves traded 3.00 to 9.00 lower with the exception of 6 weight steers trading steady. Yearling heifers were steady to 3.00 higher, while yearling steers were lightly tested with lower undertones. Demand was light early but improved throughout the day with many top prices established in the afternoon. Feeder steers medium and large 1 averaging 621 pounds brought 158.35 per hundredweight. 631 pound heifers averaged 137.67.

Barrows and gilts in the Iowa/Minnesota direct trade are .92 lower, the West is down .90 with both at 86.57 weighted average on a carcass basis. Nationally the market is down .87 at 85.89. Missouri direct base carcass meat price is steady to 4.00 higher from 78.00 to 81.00. Midwest hogs on a live basis are 1.00 to 6.00 higher from 55.00 to 65.00.

The pork carcass cutout value is 2.78 higher at 101.63 FOB plant. Bellies and loins are significantly higher.

Although market numbers are currently tightening along with the season, the untenable fact remains there are lots of hogs out there. April through June will be the third consecutive quarter with record slaughter. The odds are good that hog slaughter during the next two quarters will also be3 record high.

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