Market News

Midday cash livestock markets

Although packer inquiry in the cattle trade is expected to improve as the day progresses, the trade is slow to start. A few bids are being reported by private sources at 101.00 live and 160.00 dressed. Asking prices are 105.00 to 107.00 in the South and 165.00 in the North. Packers remain short bought going into the end of the week with feedlot managers having a three day futures market rally in their back pocket. This would suggest that despite the back and forth shifts in beef values through the week, asking prices will remain firm as feeders dig their heels in through the end of the day looking to improve cash cattle business.

Boxed beef cutout values are lower. Choice beef down .26 at 185.53, and select .88 lower at 167.74.

Feeder cattle receipts at Missouri auctions this week totaled 27,401 head. Compared to last week, feeder steers and heifers sold mostly steady. Most early week sales did trend higher but by mid to late week there was just as many which trended lower. The supply of feeders was moderate to good made up mostly of spring born calves but just enough yearlings scattered in to keep some buyers awake and on their toes. Feeder steers medium and large 1 averaging 624 pounds brought 126.55 per hundredweight. 620 pound heifers traded at 119.14

Feeder cattle receipts at the Valentine, Nebraska Livestock Auction totaled 2565 head on Thursday. Compared to last week 450 to 650 pound steers traded 2.00 to 6.00 higher, and 450 to 550 pounds heifers were 2.00 to 3.00 higher. The demand was good with several buyers. Feeder steer calves medium and large 1 averaging 614 pounds brought 132.83 per hundredweight. 584 pound heifers traded at 123.25.

St. Joseph, Missouri Stockyards had their monthly sheep and goat auction on Thursday with receipts of 1229 head. Slaughter lambs sold mostly 7.00 higher than last month, non-traditional lambs weighing 50 to 80 pounds were mostly 20.00 to 30.00 higher, with 80 to 90 pounds mostly steady to 15.00 higher. Market kid goats 10.00 to 30.00 higher. Trade was active with good demand. Slaughter lambs, choice with a few prime 2-3 weighing 90 to 140 pounds brought 125.00 to 147.50 per hundredweight. Slaughter kids selection 1 40 to 60 pounds 200.00 to 215.00 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality. Western direct is down .34 at 41.21 weighted average on a carcass basis. Nationally the hog market is .44 lower at 41.15. Missouri direct base carcass meat price is steady from 36.00 to 37.00.

The pork carcass cutout value is down .01 at 74.90 FOB plant.

Strong gains quickly developed in pork cutout values on Thursday with pork values increasing more than $1.00 per hundredweight. The firm support through the meat complex and continued strong movement of pork both domestically, and in export markets continues to focus on the potential of increased market strength.