Market News

Midday livestock markets

Cattle country is relatively quiet on Thursday, A few bids have been reported by private sources at 118.00 in the South and 182.00 in the North. Significant trade made wait until tomorrow due to the wide spread between bids and asking prices. Feedlot operators are asking 128.00 in the South, and 203.00 to 205.00 in the North.

Boxed beef cutout values in the morning report are higher, with the choice up 1.39 at 204.97, and the select is .30 higher at 198.00.

Feeder cattle receipts at the Huss Platte Valley Auction Kearney, Nebraska totaled 3009 head on Wednesday, Compared to two weeks ago yearling steers were steady to 3.00 higher, steer calves under 600 pounds were steady, with 6 to 7 weights 1.00 to 5.00 higher . Heifer calves were 2.00 to 6.00 higher, Demand improved this week for all offerings due to sharply higher cattle futures. Feeder steers medium and large 1, calves weighing 618 pounds brought 209.97 per hundredweight. 619 pound heifer calves brought 182.40.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.27 lower at 71.63 weighted average on a carcass basis, the West is 3.17 lower at 71.42, and nationally the market is down 1.26 at 70.63. Midwest hogs on a live basis are steady to 1.00 higher from 47.00 to 60.00.

The pork carcass cutout value is 2.02 higher at 88.95 FOB plant.

For the week ending October 3, Iowa barrows and gilts averaged 280.3 pounds, 0.6 pounds heavier than the previous week, though still 4.5 pounds lighter than 2014.

So far market hog numbers are building slowly or not at all. Most believe this week’s kill will be slightly below last week.