Market News

Midday cash livestock markets

The Fed Cattle Exchange Auction listed a total of 4,198 head for sale, with 3,526 head sold. Nebraska had the most cattle in the sale, 2,510 head. The weighted average was 120.52, up from last week’s average of 119.16. The first bids of the week have yet to be posted in the country. Asking prices are around 122.00 in the South, and 195.00 in the North.

Boxed beef cutout values are higher in the morning report. Choice beef 193.01, up 1.39. Select beef .93 higher at 188.16 in the morning report.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 1,578 head on Tuesday, Compared to last week, steers sold 3.00 to 4.00 lower, a few spots 7,00 to 10.00 lower, Heifers were 2.00 to 3.00 lower. It was a fairly quiet day ringside as receipts were curtailed due to muddy conditions. Supply was light and demand was moderate. Feeder steers medium and large 1 averaging 782 pounds averaged 127.97 per hundredweight. 625 pound heifers brought 123.65.

The feeder cattle auction at Knoxville, Iowa had receipts of 1015 head on Tuesday. Compared to last week, calves weighing 400 to 550 pounds were 4.00 to 8.00 higher, 600 to 950 pounds, 2.00 to 3.00 higher. Heifer calves were mostly steady with 500 to 550 pounds 5.00 higher. The trade was active with good demand. Feeder steers medium and large 1 averaging 733 pounds brought 136.53 per hundredweight. 683 pound heifer calves averaged 125.37,

The Pipestone, Minnesota Hay Auction had receipts of 72 loads on Tuesday. Good quality alfalfa in small squares brought 90.00 per ton. Large squares sold for 70.00 to 75.00. Premium grass hay sold for 70.00 to 80.00 per ton in large rounds. Large rounds of straw brought 37.00 per bale. Small squares of straw from 3.80 to 4.00 per bale.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality. Nationally the hog market is 1.58 lower at 60.80 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 54.00 to 55.00. Midwest hogs on a live basis are steady from 38.00 to 46.00.

The pork carcass cutout value is 2.36 lower at 78.17 FOB plant.

Early hog slaughter guesses for the week seem to average a little below 2.4 million head. If in the ballpark, this figure would represent a slight decrease from last week, and a 3.5% increase from last year. In other words, chain speed seems to be confirming the bearish supply implications of the December 1 quarterly inventory.