Market News

Midday cash livestock prices

Private sources are reporting some scattered bids on the cattle at 160.00 live and 258.00 on the dressed. The bids are still several dollars apart from the current asking prices of 165.00 to 166.00 in the South and 265.00 to 266.00 in the North. Packer inquiry should improve throughout the day.

Boxed beef cutout values in the morning report are lower, choice is down .24 at 250.43, and select is .34 lower at 246.62.

Feeder cattle receipts at Missouri Auctions this week totaled 32,738 head .Compared to last week, feeder steers and heifers sold steady to 5.00 higher, with instances of 10.00 higher. The feeder supply was moderate. Reporters continue to note many calves with an abundance of flesh, Demand remains good to very good. 528 head of feeder steers medium and large 1 averaging 625 pounds traded at 252.06 per hundredweight. 534 head of 625 pound heifers averaged 226.16.

Barrows and gilts in the Iowa/Minnesota and Western direct trade areas are not reported due to confidentiality. The East is up .27 at 54.83, and nationally the market is 1.13 lower at 54.83 weighted average on a carcass basis. Missouri direct base carcass meat price is steady from 51.00 to 54.00. Midwest hogs on a live basis are steady from 35.00 to 44.00.

The pork carcass cutout value is down 1.17 FOB plant at 66.08

Average trade guesses on the weight breakdown of market hogs, 180 pounders and up, 7% greater than 2014 may not be large enough to explain the huge size of weekly kills seen through this month.

There’s more evidence of normalizing traffic out of West Coast ports. This round of shipments was up 7 percent from the previous week and 14 percent from the prior four-week average.