Market News

Midday cash livestock markets

Cattle country is at a standstill on Friday and it looks like business could essentially be complete for the week. A scattered trade developed on Thursday in several areas at even lower money than was evident on Wednesday, live business at 119.00 to 120.00 in Kansas, while Nebraska dressed trade ranged from 186.00 to 193.00. Wednesday trade was from 121.00 to 123.00, and 196.00 to 198.00.

Boxed beef cutout values are sharply lower on choice 239.50, down 3.38, select is.09 higher at 217.01.

Feeder cattle receipts at Missouri auctions this week totaled 31,158 head. Compared to last week, steers sold steady to mostly 5.00 lower, with some instances of 10.00 lower, heifers sold steady to 5.00 lower. The supply of feeders was moderate with mostly 500 to 800 pound feeders. Light weight calves under 500 pounds were a very small part of this week’s offering. Feeder steers medium and large 1 averaging 622 pounds brought 161.22 per hundredweight. 625 pound heifers at 150.44.

There were 91 loads of hay at the Rock Valley, Iowa auction on Thursday. All classes of hay were lower, and the demand was lighter than last week. Premium quality alfalfa in large rounds and squares ranged from 122.50 to 132.50 per ton. Good large rounds and squares 95.00 to 115.00. Small squares 3.00 per bale. Good large rounds and squares of grass from 80.00 to 95.00.

Barrows and gilts in the Iowa/Minnesota direct trade are .97 lower at 85.72 weighted average on a carcass basis, the West is down .97 at 85.70, and nationally the market is .75 lower at 85.89. Missouri direct base carcass meat price is steady to 1.00 lower from 78.00 to 80.00.

The pork carcass cutout value is up 1.42 at 100.94 FOB plant. All cuts except hams are higher.

Between long term seasonal supply trends and the likelihood that the bacon demand is still ahead of us, it is a good bet that positive supply and demand fundamentals will support the hogs and pork for at least another thirty days.

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