Market News

Midday cash livestock markets

There are more bids on the cattle on Friday from 134.00 to 136.00 live and 218.00 to 220.00 dressed as packer inquiry is improving, but these bids are still far from current asking prices of around 140.00 to 142.00 in the South, and 221.00 in the North. A light trade took place in parts of the North on Thursday with dressed deals from 216.00 to 220.00. 4.00 higher than last week’s weighted average basis Nebraska.

Boxed beef cutout values Aare near steady in the morning report, choice beef up.38 at 250.77, and select .01 higher at 220.02.

Feeder cattle receipts at Missouri auctions this week totaled 42,755 head. Compared to last week, feeders sold mostly steady to 5.00 higher, however there were calves in sales late in the week steady to 5.00 lower. The demand was good on a moderate to heavy supply. Feeder steers medium and large 1 averaging 624 pounds brought 172.53 per hundredweight. 619 pound heifers traded at 155.66.

St. Joseph, Missouri Stockyards sheep and goat auction has 1248 head on Thursday. Compared to last week slaughter lambs sold 10.00 to 15.00 lower, nontraditional lambs 30.00 to 50.00 lower. Market kid goats’ were 10.00 to 20.00 lower Trade and demand was moderate. Slaughter lambs choice and a few prime 2-3 weighing 90 to 100 pounds brought 175.00 to 195.00 per hundredweight. Feeder lambs medium and large 1 weighing 30 to 40 pounds ranged from 202.00 to 265.00 per hundredweight. Slaughter kids selection 1 weighing 45.00 to 60 pounds 230.00 to 275.00 per hundredweight. Stocker and feeder kids 25 to 30 pounds 217.50 to 225.00 per hundredweight.

The Rock Valley, Iowa Hay Auction had 111 loads of hay on Thursday. Compared to last week, the quality of grass and alfalfa hay showed improvement. There was a large volume of new crop hay. There was good demand for all types of hay as drought conditions in South Dakota have users concerned. Premium large rounds and squares of alfalfa brought 144.00 to 155.00 per ton’ Good large rounds and squares 100.00 to 132.00 per ton. Premium large rounds of grass 115.00 to 132.50 per ton. Good large rounds 95.00 to 110.00 per ton. All sales FOB Rock Valley, Iowa vicinity.

Barrows and gilts in the Iowa/Minnesota direct trade are .29 lower at 77.55 weighted average on a carcass basis, the West is down .01 at 77.49, and nationally the market is .54 lower at 75.96. Missouri direct base carcass meat price is steady at 69.00. All Midwest hog markets are closed today.

The pork carcass cutout value is down .23 at 92.31 FOB plant. Loins and ribs are significantly lower.

Extremely strong support in pork values has helped create additional optimism through the entire hog futures complex as traders focus on the ability to not only move additional product through the live market, but demand for pork product remains strong during the early summer months.