Market News

Midday cash livestock prices

A few bids on the cattle are being reported at 252.00 on a dressed basis in Nebraska on Friday, following a light trade yesterday with just a few cattle reported selling at 250.00. On a live basis cattle sold in Kansas, Texas and Nebraska from 159.00 to 160.50, about steady to $1.00 lower than last week. More trade is expected to develop today. Asking prices are around 160.00 to 162.00 in the South and 258.00 plus in the North.

Boxed beef cutout values are lower with the choice down 1.20 at 243.39, and select is 1.31 lower at 237.01.

Feeder cattle receipts at Missouri auctions this past week totaled 27,885 head. Compared to last week, steer calves sold 10.00 to 15.00 lower, yearling steers were 5.00 to 10.00 lower. Heifer calves were 5.00 to 10.00 lower, a light test of yearling heifers sold steady to 5.00 lower. As the week progressed a few exceptions were noted on quality heifers in the 550 to 600 pound range that sold steady to 5.00 higher. Feeder steers medium and large 1 averaging 573 pounds brought 253.38 per hundredweight. 575 pound heifers brought 223.81.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.11 lower with a weighted average of 66.45 on a carcass basis, the West is down 1.02 at 66.47, and no price comparison on the East at 66.06. Missouri direct base carcass meat price is steady from 54.00 to 62.00. Midwest hogs on a live basis are lightly tested at steady prices from 41.00 to 46.00.

The pork carcass cutout value is .91 lower FOB plant at 79.21.

Grain market softness through the end of the month is helping to reduce overall cost of hog production in most operations. This is also allowing many producers to focus on securing additional feed sources in the current range for much of early 2015.