Market News

Friday midday cash livestock markets

Cattle country remains quiet with only a few bids on the table in the North from 255.00 to 259.00 dressed basis. Packer inquiry should start to improve as the day progresses. Asking prices are around 168.00 to 170.00 in the South and 265.00 to 270.00 North.

Boxed beef cutout values are steady to lower with the choice up .11 at 263.77 and select is 1.98 lower art 258.71.

Feeder cattle receipts at Missouri auctions this week totaled 19,309 head. Compared to last week, feeder calves sold steady to 5.00 higher, with spots of 10.00 higher and yearling feeders sold 5.00 to 10.00 higher. The feeder supply was light to moderate. Demand for feeders was very good. Feeder steers medium and large 1 averaging 623 pounds traded at 254.99 per hundredweight. 621 pound heifers averaged 230.96.

Barrows and gilts in the direct trade areas are sharply lower on Friday. The Iowa/Minnesota direct trade is 4.20 lower at 116.98 weighted average on a carcass basis, the West is down 3.01 at 117.87, and the East is not reported due to confidentiality. Missouri direct base carcass meat price is steady at 114.00. Barrows and gilts at Midwest markets are lightly tested from 84.00 to 95.00 on a live basis.

The pork cutout value is 2.05 lower at 126.98 FOB plant.

Though the cash hog trade has been sloppy and soft this week, the case can be made that we are pulling numbers forward, aggressive marketing that could mean that late summer/early fall numbers will be more manageable than imagined.