Market News

Thursday midday cash livestock markets

USDA Mandatory reported cattle trading was light to moderate in Kansas on Wednesday on light to moderate demand. Compared to last week live sales were 3.00 lower at 152.00. In Nebraska a few early sales were reported at 152.00 live, and 242.00 dressed. Trading was light to moderate in Iowa with live sales at 153.00 and dressed sales at 242.00. There are a few bids in Eastern Nebraska on Thursday fully steady with yesterday’s business. Asking prices are around 154.00 plus in the South and 245.00 in the North.

Boxed beef cutout values in the morning report are lower with the choice down 1.03 at 250.52 and select is .56 lower at 242.51.

Feeder cattle receipts at the Springfield Livestock Marketing Center in Missouri totaled 1291 head. Compared to last week, steers were steady, Holsteins were scarce, and heifers trended 4.00 to 10.00 lower. The demand was moderate to good on a moderate supply. Tumbling cattle futures and hot weather put pressure on the feeder cattle trade. Feeder steers medium and large 1 averaging 721 pounds brought 219.84 per hundredweight. 532 pound heifers averaged 229.54.

Barrows and gilts in the Iowa/Minnesota direct trade are not reported due to confidentiality. The West is 1.33 lower at 95.03 weighted average on a carcass basis, the East is down 1.06 at 96.95. Missouri direct base carcass meat price is steady to 1.00 higher from 95.00 to 96.00. Butcher hogs at Midwest markets are steady with an instance of 1.00 lower on a live basis from 64.00 to 80.00.

The pork carcass cutout value is .77 higher at 108.02 FOB plant.

Iowa barrows and gilts averaged 282.5 pounds last week, 1.3 pounds lighter than the prior week, though still 10.5 pounds heavier than 2013. This seems like good evidence that pork producers are pulling market hogs forward, away from severe fall discounts.