Market News

Midday cash livestock markets

On the Fed Cattle Exchange Internet Auction today 5,462 slaughter cattle were offered, 2,729 head were sold with an average price of 121.98 per hundredweight. Last week’s weighted average was 120.52. So far on Wednesday no bids on the cattle in the feedlot trade have been reported. Packer inquiry is expected to improve as the day progresses. Early asking prices are around 124.00 to 125.00 in the South, and 200.00 in the North.

Boxed beef cutout values in the morning report were mixed, choice beef 181.57, down .17, select 189.21, up 1.04.

Manchester, Iowa Livestock Auction had receipts of 672 head of fat cattle on Tuesday. Compared to two weeks ago, beef steers and heifers were 2.50 higher, Holstein steers were steady. High yielding prime and choice steers ranged from 121.00 to 125.00. Heifers from 121.00 to 126.50. Holstein steers traded in a range of 83.00 to 89.00.

The Ozarks Regional Stockyards at West Plains, Missouri had receipts of 3,000 cattle Tuesday. Compared to last week, steers and heifer calves sold 5.00 to 10.00 higher with spots on the lighter weights 13.00 higher. Yearling steers were 3.00 to 5.00 higher with yearling heifers lightly tested. Demand was very good on a moderate supply. Feeder steers medium and large 1 averaging 680 pounds brought 135.00 per hundredweight. 575 pound heifers traded at 127.50.

Feeder cattle receipts at the Philip, South Dakota Livestock Auction totaled 8117 head Tuesday. Compared to two weeks ago feeder steers trended steady to 6.00 lower. Feeder heifers were steady to 4.00 lower. There was very good demand for several long strings of cattle, load lots and packages of mostly feeder steers which sold on an active market despite significant winter weather moving into feedlot country. Feeder steers medium and large 1 averaging 625 pounds brought 146.16 per hundredweight. 668 pound heifers averaged 133.62.

Barrows and gilts in the Iowa/Minnesota direct trade are .56 higher, the West is up .31 with both at 64.28 weighted average on a carcass basis. Nationally the market is .29 lower at 62.78. Missouri direct base carcass meat price is steady 55.00 to 58.00. Midwest hogs on a live basis are steady to 2.00 lower from 40.00 to 42.00.

The pork carcass cutout value is 1.09 higher at 82.53 FOB plant.

Frozen stores of pork at the end of December totaled 477.2 million pounds, 13 percent smaller than last year. More specifically, the frozen pork belly stockpile totaled no more than 17.8 million pounds, the smallest in more than 60 years.