Market News

Midday cash livestock markets

Bids and asking prices on the feedlot cattle are not developed yet. Generally speaking, cattle feeders distributed showlists on Monday that were somewhat larger than last week. Furthermore, packers’ are now buying for the last two weeks of the year, both of which will have smaller slaughter needs before and after the holidays.

Live and feeder cattle futures broke sharply higher on Monday with several contracts scoring multi month highs. Frigid temperatures through a large area of feedlot country are seen as a real threat to early winter production potential.

Boxed beef cutout values are higher in the morning report. Choice beef is up 1.69 at 191.25, select 174.76, up .81.

Sioux Falls regional Livestock at Worthing South Dakota had receipts of 4389 cattle on Monday. Compared to last week, steer calves 2.00 to 6.00 higher with instances of 10.00 to 12.00 higher. Yearling steers were of different weights than last week. Heifer calves steady to 6.00 higher with instances of 8.00 to 10.00 higher. Demand was good to very good for the large offering of calves with most preconditioned and weaned over 45 days. Feeder steers medium and large 1, calves weighing 617 pounds averaged 143.31 per hundredweight. 624 pound heifer calves traded at 129.49.

At Hamilton’s Madison County AG Hay Auction at Bethalto, Illinois demand was moderate to good for heavy offerings, with good buyer attendance. Prices trended mostly steady. Receipts totaled 2442 bales. Small squares of premium quality alfalfa brought $6.50 per bale. Large squares 3 x 3 of 4th cutting traded at 61.00 per bale. Good quality small squares brought 4.50 per bale. 24% moisture large squares 3 x 3 at 50.00. Large rounds 51.00 per bale.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality, the West is .21 lower at 53.25 weighted average on a carcass basis, and nationally the hog market is .40 lower at 52.85. Missouri direct base carcass meat price is 5.00 to 7.00 higher from 43.00 to 47.00. Midwest hogs on a live basis are steady to 2.00 higher from 25.00 to 40.00.

The pork carcass cutout value is .84 lower at 75.54 FOB plant. Hams are 4.70 lower.

Early bird guesses believe this week’s hog kill will be very close to last week, 2.4 million head or better, thereby keeping wholesale channels quite full and challenging late year pork demand.