Market News

Midday cash livestock markets

Cattle country is relatively quiet so far today following yesterday’s somewhat light activity. DTN reports cattle traded in Kansas and Texas at mostly 161.00 live, fully steady with last week’s business. In the North cattle on a live basis traded at 159.00 to 160.00, with some dressed business at 252.00. Asking prices are around 161.00 to 162.00 plus in the South, and 255.00 plus in the North.

Boxed beef cutout values are weaker in the morning report with the choice down .76 at 264.22, and select is .49 lower at 250.57.

Feeder cattle receipts at the Huss Platte Valley Auction at Kearney, Nebraska totaled 2930 head. Compared to two weeks ago, steers and heifers sold 2.00 to 5.00 higher with the most advance on heavy weight feeders. A near capacity crowd was on hand and they bid readily for all offerings from start to finish. Feeder steers, medium and large 1 averaging 869 pounds traded at 212.42 per hundredweight. 823 pound heifers brought 204.71.

Barrows and gilts in the Iowa/Minnesota direct trade and the East are not reported due to confidentiality. In the West the market is 1.09 lower at 78.22 weighted average on a carcass basis, national hogs are down 1.41 at 77.25. Missouri direct base carcass meat price is steady to 1.00 lower from 73.00 to 74.00. Midwest hogs on a live basis are steady from 54.00 to 60.00.

The pork carcass cutout value is up 1.30 FOB plant at 87.43 in the morning report.

Last week Iowa barrows and gilts averaged 280.8 pounds, 0.4 pounds lighter than the previous week and 6.7 pounds smaller than 2014. Market live weights should consistently trend lower for at least another 30-45 days.