Market News

Midday cash livestock markets

USDA Mandatory reported negotiated cash cattle trade was active on good demand on Thursday in the Southern Plains. Live sales in the Texas Panhandle ranged from 135.00 to 138.00. Kansas live sales from 136.00 to 138.00. Trade was moderate on very good demand in the Northern Plains. Live sales in Nebraska from 138.00 to 140.00. Dressed sales at 217.00 to 219.00. Live sales were reported at 140.00 in Colorado. Prices were sharply higher in all regions.

Boxed beef cutout values are higher in the morning report, choice beef221.00, up 1.85, select 207.92, up 1.24.

Feeder cattle receipts at Missouri auctions this week totaled 33,074 head Compared to the previous week feeders sold steady to 5.00 higher with several cattle selling 10.00 higher mid to late week. Early in the week a few of the bigger southern markets did quote some feather weight calves a few dollars lower, but buyers quickly found lower money was not going to get the job done this week. Prices have gotten back to levels not seen in nearly a year and climbed at a very sharp pace this week. Feeder steers medium and large 1 averaging 625 pounds averaged 161.28 per hundredweight. 624 pound heifers brought 141.19.

Slaughter cattle receipts at Sheldon Iowa on Thursday totaled 605 head. The trend compared to last week was 5.00 to 7.00 higher on the choice steers, 5.00 to 6.00 higher on Choice Holstein steers and 6.00 to 8.00 higher on choice heifers. Demand was good on a higher offering. Slaughter steers choice 2-4 ranged from 128.00 to 138.1`0. Choice Holstein steers 2-3 brought 115.00 to 119.50. Slaughter heifers choice 2-4 traded from 131.00 to 137.50.

At the Lamoni, Iowa feeder cattle auction receipts totaled 1811 head. No comparison on price as the sale has not been reported for three weeks. The trade was active and the demand was very good on a much higher market. Feeder steer calves medium and large 1 averaging 618 pounds brought 176.33 per hundredweight. 622 pound heifer calves brought 149.54.

Barrows and gilts in the Iowa/Minnesota direct trade are .61 lower at 55.36 weighted average on a carcass basis, the West is down .40 at 55.39, and nationally the market is .44 lower at 55.02. Missouri direct base carcass meat price is steady from 47.00 to 49.00.

The pork carcass cutout value is .02 higher at 73.57 FOB plant.

Even though Friday morning’s hog prices are lower cash hogs climbed higher on Thursday. This week’s positive pattern seems quite promising in terms of turning the seasonal corner toward more constructive fundamentals through midsummer.