Market News

Midday cash livestock markets

Short bought cattle buyers have been backed into an eleventh hour corner, feedlot leverage demonstrated over the last two to four weeks points to the winning of steady to firm prices. There are just a few scattered bids so far from 116.00 to 117.00 live, and 186.00 dressed, but packer inquiry will start to improve over the next several hours. Asking prices on the cattle are around 120.00 to 122.00 in the South, and 190.00 in the North.

Boxed beef cutout values are higher in the morning report, choice beef 190.44, up 2.83, select 186.93, up .38.

Feeder cattle receipts at the Ogallala, Nebraska Livestock Auction totaled 7250 head on Thursday. Compared to last week, steers and heifers weighing less than 650 pounds were 2.00 to 12.00 higher. Feeders over 650 pounds were steady to 12.00 lower. Chicago Mercantile Exchange futures affected the larger cattle. Demand was good on the lighter cattle. Feeder steers medium and large 1 averaging 675 pounds brought 140.85 per hundredweight. Feeder heifers weighing 668 pounds averaged 130.30.

St. Joseph, Missouri Stockyards monthly sheep and goat sale had consignments of 1300 head. Slaughter lambs sold weak, with non-traditional lambs steady to 15.00 higher, with instances of 20.00 to 30.00 higher Slaughter ewes were mostly steady. Market kid goats were 15.00 to 30.00 higher. The trade was active with good demand. Slaughter lambs, choice with a few prime 2-4 weighing 105 to 130 pounds brought 125.00 to 135.00 per hundredweight. Feeder lambs Medium and large 1-2 weighing 35 to 40 pounds brought 200.00 to 215.00 per hundredweight. Slaughter kids selection 1, 40 to 65 pounds traded from 260.00 to 292.50 per hundredweight.

Compared to last week Nebraska hay sales were unevenly steady on alfalfa and grass hay, dehydrated alfalfa pellets and ground and delivered hay steady. Demand remains mostly light for this time of year. In eastern and central Nebraska, good large square bales of alfalfa brought 130.00 to 150.00 per ton. In the Platte Valley area, good large round bales traded from 65.00 to 75.00 a ton.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are both 1.83 lower at 60.83 weighted average on a carcass basis. Nationally the hog market is .99 lower at 60.21. Missouri direct base carcass meat price is steady from 51.00 to 52.00. Midwest hogs on a live basis ae steady at 37.00 in a light test.

The pork carcass cutout value is up 2.83 at 82.20 FOB plant. Hams ae up $13.43, most of the other cuts are lower.

Lean hog prices are quickly approaching breakeven levels and producers are current so packers may find it more and more difficult to source hogs without continuing to pay more money.