Market News

Friday midday cash livestock markets

Packer inquiry in the cattle is light so far on Friday, with just a few bids in Nebraska at 265.00. Business was no better than light to moderate on Wednesday. USDA Mandatory reported trading was light to moderate in Kansas on moderate demand. Compared to last week live sales were steady at 173.00 Trading was light to moderate in Central and Western Nebraska. Live sales were mostly steady to 2.00 higher than the bulk of the sales last week from 172.00 to 173.00, with a few dressed sales from 266.00 to 267.00. DTN says they assume more traffic will have to surface sometime today, or packers will go into next week short bought.

Boxed beef cutout values are firm to higher, with the choice up .02 at 257.15, select is 1.89 higher at 245.89.

Feeder cattle receipts at Missouri Auctions this week totaled 19,214 head. Compared to last week, a limited test of feeder steers and heifers were fully steady to 5.00 higher. This week’s supply was light to moderate. Several barns remained dark and several others had very light offerings which did not provide for a good test of the market. Feeder steers medium and large 1 averaging 718 pounds brought 248.79 per hundredweight. 723 pound heifers traded at an average of 228.11.

Barrows and gilts in the Iowa/Minnesota, Western and Eastern direct trade are not reported due to confidentiality. Nationally the hog market on a carcass basis is .15 lower with a weighted average of 94.75. Missouri direct base carcass meat price is steady in a light test from 77.00 to 79.00. Most Midwest markets are not reported due to the Thanksgiving holiday break.

The pork carcass cutout value is 1.11 lower at 91.68 FOB plant.

Iowa barrows and gilts averaged 284 pounds last week, 0.7 pounds lighter than the previous week and only 2.6 pounds heavier than 2013. The combination of calendar and below-normal temps suggests that scale tickets have topped for the season.

While PED history is not destined to necessarily repeat itself, if the disease follows the same pattern as last year it will become more prevalent next month, building to a peak in February and remaining at high levels through March and April.