Market News

Midday cash livestock markets

USDA Mandatory repots the cattle trade is moderate on moderate to good demand on Friday in the Southern Plains. In the Texas Panhandle a few early live sales have sold at 105.00. In Kansas cattle have sold from 104.00 to 105.00. Trade remains mostly inactive on good demand in other feeding regions as producers continue to pass current bids on good buyer inquiry. Significant trade volume should develop over the next several hours.

Boxed beef cutout values are higher in the morning report. Choice beef 183.11, up 1.57, select 169.99, up 1.08.

Feeder cattle receipts at Missouri Auctions this week totaled 27,800 head. Compared to last week, feeder steers and heifers sold 7.00 to 10.00 higher. Nearly all segments of the cattle industry including the local auction barns continued to follow the upward trend that started mid last week. The feeder supply was towards the upper side of moderate, none of the local barns had huge runs but they were generally much larger than any previous weeks this fall. Overall demand was moderate to good. Feeder steers medium and large 1 averaging 628 pounds traded at 127.27 per hundredweight. 626 pound heifers brought 118.27

Feeder cattle receipts at the Valentine, Nebraska Livestock Auction totaled 5500 head. Compared to last week 450 to 650 pound steers traded 2.00 to 7.00 higher, and 450 to 550 pound heifers from 5.00 to 9.00 higher. The demand was good for the several loads of Sandhill raised calves off the cow. 598 head of feeder steers medium and large 1 weighing 627 pounds averaged 134.28 per hundredweight. 618 pound heifer calves at 127.80.

The Rock Valley, Iowa Hay Auction sold alfalfa and grass steady to weak on Thursday, while bedding materials sold with a lower undertone. Premium large squares of alfalfa traded from 130.00 to 152.50 per ton. Good quality large squares 75.00 to 97.50. Alfalfa grass mix good large rounds at 110.00 per ton.

Barrows and gilts in the Iowa/Minnesota direct trade are .68 lower at 44.43 weighted average on a carcass basis, the West is down .48 at 44.51, and nationally the market is .57 lower at 44.09. Missouri direct base carcass meat price is steady from 38.00 to 39.00. Midwest hogs on a live basis are steady with an instance of 4.00 lower from 25.00 to 33.00 in a light Friday test.

The pork carcass cutout value 74.00, up .63 FOB plant. Bellies up the most.

While late month hog prices have definitely stabilized, both cash and futures, expecting a seasonal market bottom in late October seems way too early. Indeed the tall wall of pork is apt to represent a tough challenge for demand through the end of the year.

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