Market News

Midday cash livestock markets

Short bought packers moved to buy cattle on Friday morning. Live business appeared to be developing in several areas at 128.00 live, fully 2.00 higher than last week. Price strength seems to be even more significant in parts of Nebraska where last week’s weighted average was no more than 123.31. Packers continue to value cattle depending on their time of delivery, 7 to 10 days. The expectation is trade volume totals should continue to grow through the day with both sides working to complete business before the long weekend break.

Slaughter cattle receipts at the Schuyler Livestock Auction at Rushville, Illinois on Wednesday had receipts of 396 head. Compared to last week, slaughter steers and heifers traded mostly steady. Slaughter Holsteins were lightly tested. Slaughter cows were 2.00 lower. Slaughter bulls were 6.00 to 8.00 lower. Trade was active with good demand. Slaughter steers choice 2-4 ranged from 123.50 to 130.50. Choice heifers 2-3 from 110.50 on some low dressing to 129.75.

Boxed beef cutout values are mixed, choice beef 210.35, up .22, select 198.57, down .07.

Feeder cattle receipts at the St. Joseph, Missouri Stockyards totaled 3,199 head. Compared to the light run last week, steers sold 4.00 to 8.00 higher, with some spots 9.00 to 10.00 higher on comparable sales. Heifers weighing 600 to 750 pounds were 8.00 to 10.00 higher, while other weights of heifers sold 4.00 to 6.00 higher. Demand was good for several loads and strings of calves and yearlings, weighing conditions were in the buyers favor. Feeder steers Medium and large 1 averaging 728 pounds brought 146.30 per hundredweight.  Feeder heifers weighing 723 pounds averaged 129.70.

At the Kalona, Iowa sheep auction receipts totaled 889 head on Wednesday. Compared to last week slaughter lambs over 90 pounds were too few of any one weight for a true test, weighing less than 90 pounds, 3.00 to 6.00 lower. Feeder lambs under 60 pounds 3.00 to 6.00 lower. Trade was active with good demand. Slaughter lambs wooled choice 1-2 weighing 73 pounds brought 197.62 per hundredweight. Feeder lambs medium and large 1-2 weighing 46 pounds averaged 236.13 per hundredweight. There were 402 goats in the auction, trade was active on moderate demand. Slaughter kids selection 1 weighing 62 pounds brought 172.50 per head. Feeder kids’ selection 2 weighing 26 pounds averaged 37.50 per head.

Barrows and gilts in the Iowa/Minnesota direct trade are down .06 at 56.69 weighted average on a carcass basis, the West is .08 lower at 56.66, and nationally the market is .40 lower at 56.13, live basis .01 lower at 44.77. Missouri direct base carcass meat price is steady to 2.00 lower from 49.00 to 50.00.

The pork carcass cutout value is 1.44 higher with only butts and hams lower.

While there is much disagreement about the strength of pork demand in the quarter ahead, virtually all agree that current summer values will prove to be too low should domestic export demand remain as strong in the spring as it has so far this year, according to DTN analyst John Harrington.

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