Market News

Midday cash livestock markets

USDA Mandatory reported negotiated cash cattle trade was very limited on light to moderate demand in the Southern Plains and Nebraska on Wednesday. A few sales were reported in the Texas Panhandle from 126.00 to 129.25, with Kansas sales from 128.75 to 129.00. In Nebraska a few live sales ranged from 131.50 to 133.00. However not enough sales in any feeding region for an adequate market trend.

There are just a few scatted bids in cattle country on Thursday at 126.00 live in Texas, and 208.00 dressed in Nebraska. Packer inquiry should start to improve as the day progresses, but it is possible that significant trade volume could be delayed until sometime on Friday. Asking prices are around 123.00 in the South, and 215.00 in the North.

Boxed beef cutout values are lower in the morning report. Choice beef 216.12, down .80, select 209.96, down .30.

Slaughter cattle receipts at the Tama, Iowa Slaughter cattle auction totaled 589 head on Wednesday. Compared to last week, choice steers trended 4.50 to 6.50 lower. Choice heifers were down 3.50 to 5.75. Slaughter cows were 1.00 to 2.00 higher. The trade was active with good demand. Slaughter steers choice 2-4 brought 127.00 to 135.00 per hundredweight. Choice 2-4 heifer’s from 130.00 to 135.00.

Huss Platte Valley Auction in Nebraska had 2715 cattle on Wednesday. Compared to last week, steers and heifers sold steady. The demand was good from a moderate size crowd of buyers. Internet buying was active. There was a nice rain in the local trade area on Tuesday evening and Wednesday. Feeder steers medium and large 1 averaging 634 pounds traded at 156.92 per hundredweight. 622 pound heifers averaged 141.36.

Sioux Falls Regional Stockyards at Worthing, South Dakota had receipts of 1508 sheep on Wednesday. Slaughter lambs were 5.00 to 7.00 higher on a limited offering. Slaughter ewes were 2.00 to 3.00 higher. Feeder lambs were too lightly tested last week for a comparison. There was very good demand for the light offering of slaughter lambs, and very good demand for feeder lambs. Slaughter lambs wooled and shorn choice and prime 2-3 averaging 139 pounds averaged 166.02 per hundredweight. Feeder lambs medium and large 1-2 weighing 63 pounds traded at 266.21 per hundredweight.

Barrows and gilts in the Iowa/Minnesota direct trade and the West are not reported due to confidentiality. Nationally the market is .73 lower at 61.94 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 55.00 to 58.00. Midwest hogs on a live basis are steady to 1.00 higher from 39.00 to 49.00.

The pork carcass cutout value is down .03 at 76.19 FOB plant.

For the week ending March 25, Iowa barrows and gilts averaged 282.4 pounds, .8 pounds heavier than the previous week and 1.1 pounds lighter than 2016. Seasonally, weights could trend higher for another 30 days before turning lower from late spring to midsummer.

 

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