Market News

Midday cash livestock prices

Private sources are reporting a few scattered bids on the cattle on Wednesday. Packers have thrown out a few bids in the South at 157.00, and 250.00 dressed basis in Nebraska. The bids are miles apart from the current asking prices of 162.00 to 163.00 in the South and 255.00 to 260.00 in the North. It is starting to look like another end of the week trade in the cattle, unless packers and feedlot operators can get together sooner.

Boxed beef cutout values are mixed in the morning report. Choice beef 249.16 down .45, select 247.20 up 1.92.

Feeder cattle receipts at the Ozarks Regional Stockyards at West Plains, Missouri totaled just 1625 head. The last feeder sale was three weeks ago. The market was lightly tested and was steady to 4.00 lower. Demand was very good on a light supply, with ice and snow in the forecast. Today’s cow and bull sale was cancelled. Feeder steers medium and large 1 averaging 523 pounds averaged 275.66 per hundredweight. 516 pound heifers at 247.97.

Barrows and gilts in the Iowa/Minnesota direct trade are 1.31 lower with a weighted average of 64.25 on a carcass basis, the West is down 1.17 at 64.21, and the East is not reported due to confidentiality. The national market is 1.70 lower at 62.94. Missouri direct base carcass meat price is steady to 1.00 lower from 57.00 to 62.00. Midwest hogs on a live basis are steady to higher from 40.00 to 55.00.

Pork carcass cutout value is up 1.04 at 70.05 FOB plant.

DTN says their guess is the weekly hog kill will eventually total close to 2.2 million head, roughly 6% greater than 2014.