Market News

Thursday midday cash livestock markets

Cattle country is quiet on Friday and the suspicion is that business is essentially completed for the week, although it is possible we may see a little more cleanup trade today and tomorrow. Asking prices on the few cattle left on the showlists are around 152.00 plus in the South and 246.00 plus in the North.

Boxed beef cutout values are lower in the morning report with the choice down .96 at 240.80, and select is .27 lower at 233.04.

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 4200 head. Compared to two weeks ago, steers under 850 pounds trended 5.00 to 10.00 higher, over 850 pounds steady to 4.00 higher. Heifers weighing less than 750 pounds traded 8.00 to 10.00 higher, over 750 pounds 3.00 to 6.00 higher. Demand was very good from a very large crowd with some buyers from Kansas and Iowa. Feeder steers medium and large 1 averaging 765 pounds brought 184.01 per hundredweight. 779 pound heifers traded at 165.65.

Barrows and gilts in the Iowa/Minnesota direct trade are 4.70 higher, the West is up 5.59 with both at 131.49 weighted average on a carcass basis. Eastern hog prices are not reported due to confidentiality. Missouri direct base carcass meat price is steady from 117.00 to 119.00. Terminal barrows and gilts are steady to 2.00 higher from 82.00 to 88.00.

The pork carcass cutout value is .11 higher at 132.02 FOB plant on a negotiated basis.

Iowa market hogs last week averaged 283.9 pounds, 0.9 pounds larger than the previous week and as much 8.2 pounds heavier than 2013.

More market watchers have rising concerns that the recent surge in overall wholesale pork product values to record levels may affect domestic demand in the months ahead once the wholesale pork price increase is fully passed on to consumers.