Market News

Thursday midday cash livestock prices

Cattle country is quiet again on Thursday, but the expectation is packer inquiry will start to improve as the day progresses. However, it is possible significant trade volume could be delayed until Friday after the release of the monthly cattle on feed report. Asking prices are around 174.00 in the South, and 270.00 plus in the North.

Boxed beef cutouts were higher in the morning report, Choice beef was up .84 at 255.63, and select was 1.58 higher at 243.63.

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 4583 head on Wednesday. Compared to last week, steers under 650 pounds sold 7.00 to 10.00 higher, over 650 pounds steady to 3.00 higher. Heifers under 600 pounds sold 4.00 to 8.00 higher with weights over 600 pounds fully steady. Demand was good throughout the day with several buyers in the seats. Feeder steers medium and large 1, calves weighing 716 pounds averaged 242.83 per hundredweight. 719 pound heifers brought 231.97.

Barrows and gilts in the Iowa/Minnesota, and Western direct trade are not reported due to confidentiality. Nationally the barrows and gilts are 1.50 lower with a weighted average of 84.14 on a carcass basis. Eastern hogs are .07 higher at 83.94. The Missouri direct base carcass meat price was steady from 77.00 to 81.00. Midwest hogs on a live basis are fully steady from 58.00 to 66.00.

The pork carcass cutout value was up .49 in the morning report 93.13 FOB plant. Belly, picnic, and loins were higher.

For the week ending Nov. 15, Iowa barrows and gilts averaged 284.7 pounds, a full pound lighter than the previous week and only 3.5 pounds greater than 2013 the smallest year over year premium since late September 2013.