Market News

Midday cash livestock markets

There are just a few bids noted on the cattle at 121.00 live and 193.00 to 194.00 dressed, following a light scattered trade yesterday. Live Southern business was reported $3.00 lower at 123.00, and northern dressed business at 197.00 to 199.00, $7.00 to 8.00 lower than last week’s weighted average basis Nebraska. Packer inquiry should improve as the day progresses. Asking prices are around 125.00 to 128.00 in the South, and 208.00 plus in the North.

Boxed beef cutout values were lower in the morning report. Choice beef 224.99, down 1.43, select 202.79, $1.47 lower.

Feeder cattle receipts at the Springfield, Missouri Livestock Marketing Center totaled 1872 head on Wednesday. Compared to last week, steers were steady to 4.00 lower, heifers 4.00 to 8.00 lower. A limited test of Holsteins sold with a lower undertone. Demand was moderate to light on a moderate supply. Cattle trade was pressured with slaughter cattle and cattle futures trading lower, and the hot weather. Feeder steers medium and large 1 averaging 627 pounds brought 153.49. Feeder heifer calves weighting 624 pounds brought 131.00.

Slaughter cattle receipts at the Tama, Iowa auction totaled 648 head. Choice steers were .50 to .75 lower, heifers were down .75, and choice Holsteins traded 1.00 to 1.25 lower. Trade was active with good demand. Choice 2-4 slaughter steers brought 129.00 to 133.75. Holstein steers from 115.00 to 121.50. Slaughter heifers ranged from 129.00 to 133.00.

Sheep receipts at the Sioux Falls Regional Stockyards at Worthing, South Dakota totaled 950 head. Slaughter lambs traded 10.00 to 12.00 higher. Feeder lambs were steady with a higher undertone compared to last week’s limited test. There was very good demand for slaughter and feeder lambs. Slaughter lambs, wooled and shorn choice and prime 2-3 weighing 140 pounds brought 169.91 per hundredweight. Feeder lambs large 1-2 weighing 58 pounds averaged 233.64 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality, the five day rolling average at 79.73. Nationally the hog market is .99 lower at 78.52 weighted average on a carcass basis. The West is not reported. The Missouri direct base carcass meat price is steady from 66.00 to 70.00. Midwest hogs on a live basis are steady from 48.00 to 60.00.

The pork carcass cutout value is down .30 in the morning report at 87.10 FOB plant. Ribs, butts and loins were all lower.

For the week ending June11, Iowa barrows and gilts averaged 281.9 pounds, 1.2 pounds lighter than last week and 1 pound heavier than 2015.

The week ending June 11 saw U.S. hatcheries setting 219 million broiler eggs, up 1% from a year ago. At the same chicks placed totaled 181 million, up slightly from 2015.