Market News

Midday cash livestock prices

Cattle country is slow to start on Thursday with just a few scattered bids of 157.00 live, and 250.00 dressed. Packer inquiry is expected to improve as the day goes on. Due to the great difference between asking prices and bids, packers and feedlot managers may not arrive at a price until sometime on Friday. Asking prices are around 162.00 to 163.00 in the South, and 255.00 to 260.00 in the North.

Boxed beef cutout values are firm in the morning report with choice 248.91 up .33, and select 247.46, .23 higher.

Feeder cattle receipts at the Huss Platte Valley Auction in Nebraska totaled 3121 head. Compared to last week’s sale, steers and heifers over 600 pounds sold 7.00 higher. Demand was good from an average size crowd of buyers. Nearly 96% of the run weighed over 600 pounds. Feeder steers averaging 819 pounds traded at 205.02 per hundredweight. 817 pound heifers averaged 190.12.

Barrows and gilts in the Iowa/Minnesota direct trade opened .41 lower, the West is down .39 with both at 64.48 weighted average on a carcass basis. The National market is 1.02 lower at 63.43. Missouri direct base carcass meat price is steady from 57.00 to 62.00. Midwest hogs on a live base are steady from 40.00 to 46.00 in a light test.

Pork carcass cutout values continue their up and down moves on Thursday, down 1.49 at 68.49 FOB plant.

For the week ending February 28, Iowa barrows and gilts averaged 284.2 pounds, 0.4 pounds lighter than the previous week, only 2.4 pounds heavier than 2014.

Cash hogs definitely moved easier at midweek. Mandatory reported both lower dressed sales and a significant hike in trade volume, never a good combination.