Market News

Midday cash livestock markets

It is a typical Tuesday in feedlot country with bids and asking prices scarce. A few showlists have been priced around 124.00 to 125.00 in the South and 200.00 in the North. The January 1 cattle on feed report will be released on Friday afternoon. Many early birds are betting it will contain further evidence of greater placement activity.

Boxed beef cutouts are higher in the morning report. Choice beef 193.27, up 1.50, and select 2.36 higher at 189.19.

11,000 head of cattle at the Oklahoma National Stockyards on Monday. Compared to last week, feeder steers under 850 pounds were 2.00 to 5.00 higher, over 850 pounds not well tested with last week, but a firm undertone was noted. Feeder heifers traded steady to 2.50 higher. Steer and heifer calves sold mostly 3.00 to 4.00 higher on very limited comparable sales, some instances of 8.00 to 11.00 higher on 500 pound calves. Demand was moderate to good. Feeder steers medium and large 1 averaging 675 pounds brought 138.08 per hundredweight. 677 pound heifers averaged 128.57.

Cattle receipts at the Russell, Iowa Feeder Cattle Auction totaled 5,057 head on Monday. Compared to the sale two weeks ago, feeder steers under 700 pounds traded 2.00 to 4.00 higher, over 700 pounds mostly 1.00 to 3.00 lower. Feeder heifers were mostly 2.00 to 3.00 higher with the exception of 5 to 6 weights mostly 10.00 higher. Trade was active and demand was good. Feeder steer calves medium and large 1 averaging 678 pounds brought 142.03 per hundredweight. Heifer calves weighing 668 pounds averaged 128.97.

The Rock Valley, Iowa Hay Auction had 40 loads on Monday up 14 loads from last week. The market was mostly steady with moderate interest from buyers. Prices are dollars per ton. Good large squares of alfalfa traded at 89.00 to 92.50. Large rounds brought 77.50 to 90.00. Good quality large squares of grass ranged from 80.00 to 90.00. Large rounds of corn stalks, 9 loads from 42.50 to 45.00.

Barrows and gilts in the Iowa Minnesota direct trade are not reported due to confidentiality. Western hogs are .01 higher at 63.80 weighted average on a carcass basis. Nationally the hog market is .38 lower at 62.33. Missouri direct base carcass mea price is steady to 1.00 higher from 55.00 to 58.00. Midwest hogs on a live basis are steady to 1.00 higher from 40.00 to 44.00.

The pork carcass cutout value is up .52 at 79.50 FOB plant.

Monday’s hog kill of 440,000 head was about the most ambitious start for a slaughter week since late last year. It will be interesting to see if either producers or packers feel a need to catch up following multiple chain speed disruptions through the first half of January.