Market News

Midday cash livestock markets

Private sources are reporting bids on cattle at 122.00 to 124.00 live in the North and South and 194.00 to 200.00 dressed basis on Friday. Packer inquiry should continue to improve over the next several hours. Asking prices are around 128.00 plus in the South, and 205.00 plus I the North. On Thursday negotiated cash trade in Nebraska and the Western Cornbelt was limited on light demand. A few cattle on a dressed basis for 1-14 day delivery traded at 194.00 to 200.00. But not enough for a market trend.

Boxed beef cutout values are lower in the morning report. Choice beef is down .25 at 207.65, and select is 199.04, down 1.24.

Feeder cattle receipts at Missouri auctions this week totaled 24,911 head. Compared to last week, steers and heifers traded steady to 5.00 lower. There were a couple of auctions in the northern part of that state that trended higher, but they have had a couple of weeks off and seem to be catching up to where the rest of the state gained two to three weeks ago. The demand was good on a moderate supply. Feeder steers medium and large 1 averaging 719 pounds brought 138.96 per hundredweight. 715 pound heifers averaged 124.99.

Feeder cattle receipts at Lamoni, Iowa on Thursday totaled 3109 head. Compared to the sale three weeks ago, moderate to active trade activity with moderate to good demand. Steers and heifers trended firm to 2.00 higher. There were large consignments of 700 pound steers selling at a premium. Feeder steers medium and large 1 average 722 pounds brought 153.17 per hundredweight. 709 pound heifers averaged 127.54.

The St. Onge-Newell Sheep Yards in South Dakota had 1094 sheep on Thursday. No price comparison as the last sale was reported in February. Several packages of bred ewes were offered. Slaughter ewe lambs choice and prime 3-4 weighing 138 pounds brought 135.00 per hundredweight. Feeder lambs medium and large 1 averaging 93 pounds brought 186.00 per hundredweight. Bred ewes 2-4 years old, 24 head weighing 194 pounds brought $270.00 per head.

Barrows and gilts in the Iowa/Minnesota and Western direct trade are not reported due to confidentiality. Nationally the hog market is 1.21 lower at 57.84 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 51.00 to 55.00. No sales were reported at Midwest markets on a live basis.

The pork carcass cutout value is higher in the morning report 74.81, up .70 FOB plant. Only hams and loins are lower.

With week to date hog slaughter running 5,000 head over last week’s high side, the wholesale pork trade keeps struggling to find sufficient demand to handle spring tonnage. Carcass value stumbled further on Thursday, pressured by softening demand for bellies, ribs and butts.