Market News

Midday cash livestock markets

Cattle country is fairly quiet on Wednesday with just a few bids noted in the South at 134.00. Significant business in not expected until Thursday or Friday. Asking prices are around 138.00 to 140.00 in the South and 215.00 plus in the North.

Boxed beef cutout values are higher in the morning report, choice 218.86 up .83, select .29 higher at 213.89.

St. Joseph, Missouri Stockyards sale today has receipts of 3800 cattle. Compared to two weeks ago, steer and heifer calves under 600 pounds opened near steady, over 600 pounds steady to weak. Feeder steers medium and large 1 weighing 550 to 600 pounds traded from 183.50 to 196.00 per hundredweight. 550 to 6 weight heifers brought 161.00 to 163.00

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 2146 head on Tuesday. Compared to last week, feeder steers and heifers traded uneven from 2.00 lower to 2.00 higher. Yearling steers traded steady to 5.00 higher. Yearling heifers were lightly tested with steady to weaker undertones. The demand was good on a light to moderate supply. Feeder steers medium and large 1 averaging 610 pounds brought 173.65 per hundredweight. 582 pound heifers traded at 154.15.

Manchester, Iowa Livestock Auction had 861 head of fat cattle in the sale on Tuesday. Compared to two weeks ago steers, heifers and Holstein steers were all steady. High yielding prime and choice steers traded from 129.00 to 134.75 per hundredweight, heifers ranged from 129.00 to 133.00. Holstein steers brought 116.00 to 123.50.

Barrows and gilts in the Iowa/Minnesota direct trade opened 2.07 lower at 60.93 weighted average on a carcass basis, the West is down 1.50 at 61.32, and nationally the market is 1.37 lower at 61.47. Missouri direct base carcass meat price is steady from 51.00 to 57.00. Midwest hogs on a live basis are steady from 37.00 to 48.00.

The pork carcass cutout value is down .34 at 76.83 FOB plant.

Mandatory reporting on Tuesday confirmed a healthy combination of higher negotiated hog sales and respectable trade volume. Given the decent cash appreciation seen so far this month, it would seem that the late-winter stash of contracts is definitely smaller than normal.