Market News

Midday cash livestock prices

Cattle country is quiet so far on Friday with just a few bids noted in Nebraska at 132.00 live and 208.00 to 210.00 dressed. There was a light trade in the North yesterday from 208.00 to 210.00, 3.00 to 5.00 lower than last week’s weighted average basis Nebraska. While trade volume totals for the week look no better than decent it is possible business is essentially completed for the week.

Boxed beef cutout values are lower, choice beef 245.44, down .67, select 218.28, down .70.

Feeder cattle receipts at Missouri auctions this week totaled 31,279 head, feeder steers and heifers sold steady to 5.00 higher. The feeder supply was moderate. Several reporters noted some loads of yearlings showing up, which is a few weeks earlier than what is typical. Overall the offerings at auctions have been strong all spring and the normal lull between the grass calf market and summer yearling run has not occurred. Feeder steers medium and large 1 averaging 621 pounds traded at 166.17 per hundredweight. Heifers averaging 622 pounds brought 146.76.

Feeder cattle receipts at the Mitchell, South Dakota Livestock Auction totaled 2654 head on Thursday. Compared to last week, the best comparison in steers was those weighing 1,000 to 1,050 pounds mostly steady, other weights were not well compared. Feeder heifers weighing 800 to 900 pounds steady to 2.00 higher, other weights were not well compared. Demand was good to very good for the long strings of cattle offered, with the majority selling in load lots allowing cattle feeders to get uniform sets of steers and heifers to fill their pens. Feeder steers medium and large 1 averaging 937 pounds brought 141.92. 881 pound heifers brought 133.49.

The Rock Valley, Iowa hay auction had 110 loads on Thursday. Alfalfa and grass hay was generally steady. There was moderate to good buyer interest. Premium large squares of alfalfa traded at 115.00 to 135.00 a ton. Good quality large rounds and squares brought 87.50 to 117.50. Good large squares and rounds of grass brought 72.50 to 90.00 a ton.

Barrows and gilts in the Iowa/Minnesota direct trade opened 1.78 lower at 70.53 weighted average on a carcass basis, the west was down 1.84 at 70.47, and nationally the hog market is 1.05 lower at 70.71 in the morning report. Missouri direct base carcass meat price is steady to 1.00 higher from 64.00 to 66.00.

The pork carcass cutout value is up.49 at 90.79 FOB plant. Loins are over 4.00 higher in the morning report.

The national lean hog base jumped more than a dollar on Thursday, generating significant trade volume in the process. Both price strength and volume could be signs of significantly tighter market hog supplies just around the next corner or two, according to DTN.