Market News

Midday cash livestock markets

Feedlot action is slow to develop following Wednesday’s light round of business. Short bought packers should have to gather more cattle soon, but they remain cautious in the face of defensive futures and cutouts. Some asking prices are around 130.00 plus in the South and 193.00 to 195.00 in the North. Private sources report a few bids in the North at 190.00.

Choice boxed beef is down .57 at 209.19, and select is .02 lower at 204.18.

Feeder cattle receipts at the Hub City Livestock Auction at Aberdeen, South Dakota totaled 2915 head. Compared to last week’s much lighter offering, the best comparison on steers 900 to 950 pounds 2.00 to 5.00 lower. 951 to 1,000 pound steers were steady to 4.00 lower. There was not a good comparison on heifers. There was moderate to good demand on the yearling offering which sold on a moderate market. Feeder steers medium and large 1 averaging 977 pounds traded at 179.55 per hundredweight. 979 pound heifers averaged 165.00.

Barrows and gilts in the Iowa/Minnesota direct trade are .09 lower at 71.41 weighted average on a carcass basis, the West is .06 higher at 71.01, and nationally the market is .74 lower at 69.92. Missouri direct base carcass meat price is steady to 1.00 higher at 63.00. Midwest hogs on a live basis are steady to 1.00 higher from 44.00 to 56.00.

For the week ending September 26, Iowa barrows and gilts averaged 279.7 pounds, 0.8 pound heavier than the week before but still 4.9 pounds lighter than 2014.

The pork carcass cutout value is up 1.48 at 86.36 FOB plant.