Market News

Midday cash livestock markets

USDA Mandatory reported cattle trading and demand was light to moderate in the Texas Panhandle and Kansas on Thursday afternoon. Compared to last week, live sales were $ 3.00 lower at 124.00. Eastern Nebraska and Western Iowa trading was moderate on moderate demand. Compared to last week, live sales in Nebraska were 1.00 to 3.00 lower at 124.00, with dressed sales 2.00 to 4.00 lower in Nebraska, and 4.00 lower in Iowa at 196.00.

Boxed beef cutout values were lower in the morning report. Choice was down .45 at 212.05, and select was .08 lower at 203.17.

Feeder cattle receipts at Lamoni, Iowa on Thursday totaled 1481 head. Compared to the sale two weeks ago, feeder steers under 600 pounds were mostly 16.00 to 25.00 lower, over 600 pounds mostly 8.00 to 10.00 lower. Feeder heifers under 400 pounds mostly 2.00 to 4.00 lower, over 400 pounds mostly 7.00 to 14.00 lower. Trade and demand was moderate. Feeder steers medium and large 1 weighing 733 pounds traded at 153.11 per hundredweight. 622 pound heifer calves brought 135.62.

Midwest Exchange Regional Stockyards at Mexico, MO had receipts of 535 head of sheep and goats on Thursday. Demand was moderate on a moderate supply. Slaughter lambs nontraditional markets, choice and prime 2-4 weighing 40 to 80 pounds brought 207.50 to 229.00 per hundredweight. Feeder lambs weighing 29 to 41 pounds traded at 202.50 to 212.50. Slaughter kid goats selection 2 weighing 40 to 55 pounds brought 235.00 to 255.00 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade opened .96 higher at 70.68 weighted average on a carcass basis, the West is up 1.06 also at 70.68, and nationally the market is .81 higher at 69.23. Missouri direct base carcass meat price is steady to 1.00 higher from 56.00 to 63.00. Midwest hogs on a live basis are steady from 40.00 to 50.00.

The pork carcass cutout value is down .45 at 212.05 FOB plant.

The seasonal tendency is for June lean hog futures to trend in a negative market fashion for the next couple of weeks. Furthermore, given the fact that June leads the cash index by as much as $11, an ample serving of positive fundamentals over the next 30 days may not be impressive enough to move the summer board much higher.

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