Market News

Midday cash livestock markets

Cattle continued to trade in Nebraska on Friday with DTN picking up a few trades from 173.00 to 175.00 on a dressed basis, this followed another round of light trade in most areas on Thursday. Southern business was at mostly 110.00 live, steady with Wednesday and $5.00 less than last week. Northern trade was from 173.00 to 175.00, 6.00 to lower than a week ago. Trade volumes don’t look half bad, and it may not be necessary to carry too many cattle into next week.

Boxed beef cutout values in the morning report are 3.54 lower on the choice 192.10, select 187.92, down .57.

Feeder cattle receipts at Missouri Auctions this past week totaled 16,762 head, down from last week and last year. Feeder steers and heifers sold mostly 5.00 to 10.00 lower. The supply of feeders was light to moderate, it seemed as if more farmers have decided to hold off a bit on marketing cattle in hopes of any kind of a little price bounce. Demand was moderate although buyers were not willing to get into any bidding wars as the entire cattle complex continues to set lows. Feeder steers medium and large 1 averaging 670 pounds averaged 144.28 per hundredweight. 665 pound heifers at 136.14.

Feeder cattle receipts at the Valentine, Nebraska Livestock Market totaled 4,130 head on Thursday. Compared with two weeks ago 800 to 850 pound steers traded 4.00 to 5.00 lower, 900 to 1,000 pounds 8.00 to 10.00 lower. Heifer offerings mostly 9.00 to 11.00 lower. The demand was moderate to good with many buyers in the stands. 618 head of feeder steers medium and large 1 averaging 890 pounds traded at 139.12 per hundredweight. 602 heifers with an average weight of 867 pounds brought 130.24.

At the St. Onge-Newell Sheep Yards at Newell, South Dakota receipts totaled 3371 head. Compared to last week, feeder lambs under 100 pounds sold 10.00 to 14.00 higher. Demand was very good, especially on the offering of several large strings of feeder lambs under 80 pounds. 786 head of medium and large 1-2 feeder lambs weighing 68 pounds brought 197.53 per hundredweight.

The Rock Valley, Iowa hay auction sold alfalfa steady to weak, grass hay steady to firm this week. Large squares of premium alfalfa brought 105.00 to 120.00 per ton. Premium large squares of grass at 107.50. Good large rounds of alfalfa grass mix from 85.00 to 87.50.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality, the 5 day rolling average at 60.31. The west is also not reported. Nationally the hog market is down 1.94 at 57.10 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 52.00 to 56.00. In the Midwest only Peoria open today with steady prices from 35.00 to 37.00 live. Sows are 1.00 lower from 43.00 to 49.00.

The pork carcass cutout value is 1.20 lower at 77.19 FOB plant. Loin’s butts and ribs are significantly lower, with just modest gains in the other primal cuts.

If cattle and beef prices are set struggle mightily through the last third of 2016, it will make the threat of record pork production all the more challenging for domestic and export demand.