Market News

Wednesday midday cash livestock prices

Private sources are now reporting a few bids on the cattle to DTN. Bids are reported in Kansas at 149.00 live and Iowa at 153.00. There are some scattered dressed bids in the North from 240.00 to 242.00. So far all bids have been passed. A few showlists have been priced around 157.00 to 158.00 in the South and 248.00 plus in the North.

Boxed beef cutout values are lower with the choice beef down 1.65 at 251.26 and select .80 lower at 243.11.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled 2436 head on Tuesday. Compared to last week, feeder steers traded mixed with weights under 450 pounds steady to 5.00 higher, heavier weights were 4.00 to 12.00 lower. Heifers weighing less than 450 pounds trended 8.00 to 14.00 lower while heavier weight heifers were uneven from 2.00 lower to 2.00 higher. Demand was good on a moderate supply. Feeder steers, medium and large 1 averaging 571 pounds averaged 245.36 per hundredweight. 556 pound heifers averaged 233.99.

Barrows and gilts in the Iowa/Minnesota direct trade are 3.56 lower weighted average on a carcass basis, the West is down 3.58 with both at 95.95, and Eastern hogs at 98.31 with no price comparison. Missouri direct base carcass meat price is steady to 1.00 lower from 95.00 to 97.00. Midwest barrows and gilts opened steady with an instance of 2.00 lower live basis from 65.00 to 80.00.

The pork carcass cutout value is down .99 at 108.67 FOB plant.

This week’s hog kill may not be as large as initially thought. If the slaughter on Friday and Saturday are no larger than 355,000 and 27,000 head, respectively, the weekly total could fall short of the 2 million threshold. Such a step back from last week could lend credence to ideas that we have been pulling numbers forward in recent weeks, aggressive marketing that could make late summer and early fall supplies somewhat more manageable.