Market News

Midday cash livestock markets

Packer inquiry in the cattle is light in the early rounds on Wednesday, with several buyers renewing bids in the North at 195.00 on the dressed basis. Some asking prices are around 131.00 to 132.00 in the South and 200.00 plus in the North. A light to modest pre-holiday business is expected to develop between late morning and mid-afternoon.

Boxed beef cutout values are higher in the morning report. Choice beef is up 1.36 at 205.17 and select is 1.18 higher at 193.42.

Feeder cattle receipts at the Philip, South Dakota Livestock Auction totaled 4145 head on Tuesday. There was no feeder cattle sale last week. Compared to two weeks ago most weights of feeder cattle were sharply lower. There was good demand for several long strings, load lots, and packages which sold on an active market. 784 head of feeder steers medium and large 1 weighing 570 pounds averaged 199.92 per hundredweight. 241 heifers averaging 580 pounds brought 169.10.

Slaughter cattle receipts at the Manchester, Iowa Livestock Auction on Tuesday totaled 587 head. Slaughter steers, heifers and Holsteins were all steady with last week. High yielding prime and choice steers and heifers traded from 121.00 to 126.50 per hundredweight. Holstein steers ranged from 111.00 to 118.50 at Manchester.

Barrows and gilts in the Iowa/Minnesota direct trade are up .31 at 52.21 weighted average on a carcass basis, the West is .11 lower at 51.75, and nationally the direct hog market is .78 higher at 51.46.The Missouri direct base carcass cutout value is 1.00 lower at 44.00. Midwest hogs on a live basis are steady from 38.00 to 40.00.

Pork carcass cutout value is down .81 at 72.81 FOB plant.

Though some are willing to bet that last week’s hog slaughter of 2.4 million head marked the season’s top, it is not unusual for the first full kill week of December to surpass the November peak.