Market News

Midday cash livestock markets

Cattle country is slow to start on Friday with just a few scattered bids in Nebraska at 186.00 to 187.00 dressed. Packer inquiry is expected to improve as the day progresses. Asking prices are around 122.00 in the South, and 190.00 to 192.00 dressed in the North.

Boxed beef cutout values were firm to higher in the morning report. Choice beef was up .37 at 205.57, select was .18 higher at 193.24.

Cattle receipts at the New Cambria, Missouri Livestock Auction totaled 1731 head on Thursday. There has not been a recent sale to make a good comparison on prices. The undertone was firm to higher when looking back to the auction three weeks ago. The bulk of the sale consisted of yearlings with several loads and large strings in the offerings. Demand was good on a moderate supply. Feeder steers medium and large 1 average 723 pounds averaged 153.84 per hundredweight. Feeder heifers medium and large 1-2 weighing 722 pounds brought 144.04.

Showers across Iowa should improve the next cutting of hay. Current prices indicate livestock producers are willing to pay higher money for quality feed. Increasing numbers of goat dairies are competing with cow dairies for top quality hay. Suprema large squares of alfalfa brought 2150.00 to 260.00 a ton this week. Premium small squares at 200.00 to 240.00. Alfalfa/grass good small squares at 150.00 per ton. Certified organic, premium small squares at 210.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.13 lower at 73.16 weighted average on a carcass basis, the west is down .97 at 73.15, and nationally the market is 1.44 lower at 92.52. Missouri direct base carcass meat price opened steady from 69.00 to 71.00. Midwest hogs on a live basis are steady in a light test from 46.00 to 54.00.

The pork carcass cutout value in the morning report is 90.86, up .74 FOB plant.

Pork packers are enjoying decent margins at midsummer, as live inventory cheapens and carcass value firms. Such attractive processing incentives should soon work to lend support to the country trade.