Market News

Friday midday cash livestock markets

A few more bids on the cattle are starting to pop up at 155.00 in Kansas and 242.00 in Iowa and Nebraska. So far no trade has been reported, but packer inquiry is expected to improve as the day progresses. Asking prices are around 159.00 to 161.00 in the South and 245.00 plus in the North.

Choice boxed beef is .92 lower in the morning report at 238.19, select is up .10 at 225.44.

Feeder cattle receipts at Missouri auctions this past week totaled 24,950 head. Compared to the previous week, feeder steers and heifers sold mostly steady to 5.00 higher. The supply was made up of mostly mid to heavy weight calves with some instances of 10.00 higher on quality feeders around 600 pounds. The supply of yearlings was much lighter and a few northern auctions did quote spots of steady to 3.00 lower than the last auctions held two weeks ago which had much larger offerings. Feeder steers, medium and large 1 averaging 624 pounds traded at 257.01 per hundredweight. 626 pound heifers brought 225.99.

Barrows and gilts in the Iowa/Minnesota, Western, and Eastern direct trade areas are not reported due to confidentiality. Nationally the market is 4.28 lower with a weighted average on a carcass basis of 101.30. Missouri direct base carcass meat price is steady from 85.00 to 100.00. Many Midwest hog markets are closed on Friday with only Peoria reporting. On a live basis barrows and gilts are steady from 68.00 to 70.00.

Pork carcass cutout value is 1.26 higher at 120.17 FOB plant.

Even with all the talk about uncertain demand and potential supply growth, pork values continue to appreciate day after day as buyers remain focused on accessing market ready product at the current price range. This is expected to continue to help bring a sense of stability into the complex over the near future.