Market News

Midday cash livestock prices

Cattle country is quiet on Monday, with both buyers and sellers busy taking inventory, Bids and asking prices have yet to be established. Last week’s trade took place mostly late Friday afternoon with Southern live sales at 159.00, mostly 1.00 lower than the previous week. Northern dressed business was generally steady with the bulk of the trade at 254.00. While last week’s trade volume totals look minimal, significant trade is not expected to develop before Wednesday.

Boxed beef cutout values are mixed, with choice up .79 at 70.58, and select down .10 at 245.47.

The Joplin, Missouri feeder auction did not start until 11:00 today due to inclement weather. The run was drastically reduced.

Feeder cattle receipts at the Burwell, Nebraska Livestock Market totaled 3014 head on Friday. Compared to two weeks ago, steers over 650 pounds were 7.00 to 10.00 lower. Heifers sold unevenly steady. Demand was light to moderate from an average crowd of buyers. Some of the downward trend might be attributed to cattle displaying more flesh than the previous sale and the up and down movement in Chicago Mercantile Exchange cattle contracts. Feeder steers medium and large 1 weighing 686 pounds averaged 228.53 per hundredweight. 716 pound replacement heifers brought 214.92.

Barrows and gilts in the Iowa/Minnesota, Western, Eastern and National direct trade areas are not reported due to confidentiality. Missouri direct base carcass meat price is steady from 55.00 to 64.00. Midwest hogs on a live basis are steady to 2.00 higher from 38.00 to 50.00.

The pork carcass cutout value is up .07 at 70.58 FOB plant.

Late week’s hog slaughter continues to exceed the production implications of the December 1 hog and pig report. Though last week’s kill was somewhat smaller, it still surpassed 2014 by 5.6%, December numbers suggested an increase of only 3%. Further, the stubborn reality of heavier hogs meant that last week’s pork production was estimated to 6.5% larger than the prior year.