Market News

Midday cash livestock markets

There was a moderate to active trade in the cattle yesterday. Live trade in the South ranged from 124.00 to 125.00, generally $5.00 higher than last week. Dressed business ranged from 195.00 to 197.00, mostly 196.00, with only a few at 197.00, mostly 5.00 to 6.00 higher than last week’s weighted average basis Nebraska. Asking prices on the cattle left on the showlists are around 128.00 in the South, and 190.00 plus in the North. Although it looks like business is essentially done for the week in the South, there may be a bit more trade in the North.

Boxed beef cutout values are higher in the morning report. Choice beef 196.11, up 1.58, select 192.54, up 1.73.

Feeder cattle receipts at the St. Joseph, Missouri Stockyards on Wednesday totaled 2,835 head. Steers weighing less than 700 pounds and over 800 pounds traded 1.00 to 6.00 higher, while 7 to 8 weight were 6.00 to 7.00 higher. Feeder heifers weighing less than 650 pounds and over 700 pounds were 2.00 to 4.00 higher, while 650 to 700 pounds heifers were 8.00 to 10.00 higher. Demand was good on the good quality cattle in the offering. Feeder steers medium and large 1 averaging 620 pounds brought 148.50 per hundredweight. 624 pound heifers traded at an average of 132.84.

Slaughter cattle receipts at the Greenville, Illinois Livestock Market totaled 508 head. The sale prices seemed to pick up midway through the auction, therefore the larger spreads. Only slaughter steers and heifers, beef and dairy were reported. Quality was excellent. The trade was active with good demand. Slaughter steers Choice 2-4 traded from 115.00 to 128.50. Slaughter Holstein steers choice 2-3 from 83.50 to 90.50. Slaughter heifers choice 2-4 brought 115.00 to 127.00.

At Kalona, Iowa on Wednesday there were sheep receipts of 337 head. Compared to the previous week, slaughter lambs were mostly steady with 60 to 70 pound offerings 10.00 higher. The bulk of the lambs were under 90 pounds with very few over 100 pounds. Trade was active with good demand. Slaughter lambs wooled choice 2 to 3 averaging 77 pounds averaged 234.80 per hundredweight. There were 500 goats in the auction. All goats are sold on a per head basis. Trade was active with good demand. Slaughter kids selection 1 averaging 91 pounds averaged 209.67.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality. Nationally the hog market is 1.25 lower at 72.00 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 62.00 to 65.00. Midwest hogs on a live basis are steady from 46.00 to 52.00.

The pork carcass cutout value is 2.19 higher at 82.43 FOB plant. The belly primal is up 15.73, after closing sharply lower on Wednesday.

If the cash cattle market is set to make new highs moving into early spring, such bullishness could easily spillover into the hog trade, according to John Harrington at DTN.

For the week ending February 18, Iowa barrows and gilts averaged 281.3 pounds, .7 pounds heavier than last week, but 3.5 pounds lighter than 20216.