Market News

Midday cash livestock markets

The cattle trade is slow to start on Friday. There are a few bids being reported by private sources at 114.00 live in Kansas, and 183.00 dressed in Nebraska. Packer inquiry is expected to improve over the next several hours. Asking prices are around 118.00 to 120.00 in the South, and 190.00 plus in the North.

Boxed beef cutout values are mixed in the morning report. Choice beef is down .85 at 197.91, and select is up .15 at 189.86.

Feeder cattle receipts at the Mitchell, South Dakota Livestock Auction totaled 3028 head on Thursday. No recent price comparison was available as last week’s offerings were very limited due to the hot weather. There was good demand for a nice offering of backgrounded yearling steers and heifers. The market was very active as there have been very few feeder cattle offered in the auctions the last several weeks. There were many load lots in the offering which allowed buyers to buy multiple loads of uniform cattle to fill their pens. Feeder steers medium and large 1 averaging 867 pounds traded at 139.93 per hundredweight. 876 pound heifers averaged 129.90.

There were 96 loads of hay at the Rock Valley, Iowa Auction on Thursday. All classes of hay and straw sold lower. Premium large squares of alfalfa brought 120.00 to 125.00 per ton. Premium large rounds of alfalfa grass mix sold at 107.50 per ton. Large rounds of straw brought 50.00 to 65.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade and the West were not reported due to confidentiality. The five day rolling average IA/MN was 68.27, and the West 68.26. Nationally the hog market is 1.43 lower at 65.19 weighted average on a carcass basis. Missouri direct base carcass meat price is steady to 3.00 lower at 63.00. Midwest hogs on a live basis are steady from 40.00 to 50.00.

The pork carcass cutout value is down 1.32 at 78.85 FOB plant. Bellies were down 4.58 in the morning report.

The pork carcass cutout value took another big punch to the chin on Thursday and belly demand continues to collapse, at the close the belly primal was down another $13.57.

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