Market News

Friday midday cash livestock markets

Cattle country is quiet so far today. Only a light trade was reported in the North yesterday at fully steady money with Wednesday, mostly 240.00 on a dressed basis. Asking prices on the few cattle left on showlists are around 153.00 in the South and 242.00 in the North.

Boxed beef cutout values are sharply higher in the morning report. Choice beef is up 3.15 at 224.66, and select is 2.66 higher at 221.66.

Feeder cattle receipts at Missouri Auctions this week totaled 30,632 head. Compared to a week ago, feeder steers and heifers were uneven. A lower tone was prevalent across most classes and weights of feeder cattle with the majority selling steady to 5.00 lower. However enough steers and some heifers in the 500 to 650 range sold 2.00 to 5.00 higher. Feeder steers, medium and large 1 averaging 626 pounds averaged 191.23 per hundredweight. 626 pound heifers brought 168.38.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.65 higher, the West is up 1.85 with a weighted average of 100.36 in both regions. Eastern markets re not reported due to confidentiality. Missouri direct base carcass meat prices is steady from 88.00 to 89.00. Terminal hogs are fully steady from 61.00 to 65.00 live.

The pork carcass value is 1.77 higher FOB plant at 104.67.

The pork carcass value stormed higher thanks to stronger demand for loin, ham, and belly cuts. The cut-out closed on Thursday at $102.90 at its highest level since August 16, 2013.

Although lean futures are trading the market as though hog supplies have dropped off by 6-8%, we continue to slaughter more hogs than one year ago.