Market News

Midday cash livestock markets

Just a few bids on the cattle have been renewed at 110.00 to 112.00 live basis in Texas. The expectation is packer inquiry will improve as the day progresses, but it is possible significant trade volume will be delayed until sometime Thursday or Friday. Asking prices are around 115.00 to 116.00 in the South, and 176.00 to 178.00 in the North.

Boxed beef cutout values were lower in the midday report. Choice boxed beef was down .98 at 189.54, and select was .93 lower at 172.30.

Cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 4,319 head on Tuesday. Compared to last week. Steers calves traded 3.00 to 6.00 lower with yearling steers steady to 5.00 higher. Heifer calves traded unevenly steady with yearling heifers steady to 2.00 higher. Demand was good on a heavy supply of mostly small drafts. Feeder steers medium and large 1 averaging 519 pounds brought 148.16 per hundredweight. 514 pound heifers brought 114.43 per hundredweight.

Slaughter cattle receipts at the Manchester, Iowa Livestock Auction, INC totaled 693 head. Compared to last week Beef steers, heifers, and Holstein steers all traded 2.50 lower. High yielding choice and prime steers and heifers brought 110.00 per hundredweight. Holsteins traded from 85.00 to 94.50.

Hamilton’s Madison County AG Hay Auction at Bethalto, Illinois received 1812 bales. Demand was moderate for moderate to heavy offerings. This was the first auction of the season. Good quality alfalfa in small squares brought 6.50 per bale. Large squares, 3 x 3, 2^nd cutting brought 54.00 per bale.  Large rounds net wrapped traded at 47.00 per bale.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.38 higher at 51.58 weighted average on a carcass basis, the West is up 1.06 at 51.28, and nationally the market is 1.09 higher at 50.61. The Missouri direct base carcass meat price is steady to 1.00 higher from 39.00 to 40.00. Midwest hogs on a live basis are steady to 2.00, with an instance of 5.00 higher from 25.00 to 38.00.

The pork carcass cutout value was up 1.09 at 75.60 FOB plant.

Some believe that this week’s hog slaughter could be as large as 2.5 million head, a mere 40,000 less than last week, and 70,000 more than 2015. We are not likely to run out of live inventory anytime soon.