A few fed cattle sales are mixed, cash hogs steady to lower

Market News

A few fed cattle sales are mixed, cash hogs steady to lower

Chicago Mercantile Exchange live and feeder cattle futures were mostly higher, watching corn and the development of direct cash cattle business. October live was up $.67 at $127.57 and December was $.12 higher at $133.60. September feeders lost $.07 to $162.92, while October gained $.30 to $168.05.
Light cattle trade was reported in the South Wednesday at $124.00. That’s $1.00 to $1.50 higher than last week. Very light trade was reported in Nebraska at $203.00, $1.00 lower than last week. A private source reported that a large string of cattle sold in Western Nebraska at $126.00. Asking prices are around $125.00 plus in the South, and $205.00 plus in the North.

A report Wednesday from the Fed Cattle Exchange Auction accounted for 1,590 cattle selling from $122.00 to $124.25.
At the Kingsville, Missouri Livestock Auction Tuesday, 1,290 head of mostly yearling cattle. Compared to last week, steers traded steady and heifers sold steady to spots $5.00 higher on 500 to 650 pounders. There was very good demand for feeders.

Medium and large frame #1 steers:
116 head, weighing 702 to 729 pounds, brought $163.85 to $168.25.

Medium and large frame #1 heifers:
115 head, weighing 656 to 678 pounds, brought $154.50 to $162.00.

At the Ozarks Regional Stockyards Feeder Cattle Auction in West Plains, Missouri, 2,550 head on Tuesday’s sale.

Compared to last week, steer and heifer calves traded steady to $5.00 higher. Not enough yearlings last week for a decent test, but undertones were steady to firm. Demand was good on a moderate supply, including a four load draft of 220 931-pound steers that brought $152.25. This was $7.25 higher than the last comparable offering of four weeks ago. Some producers don’t have grass, prompting earlier selling, and producers with grass are taking home weaned calves to graze.

Medium and large frame #1 heifers:
106 head, weighing 561 to 586 pounds, brought $150.00 to $155.00.

Choice boxed beef closed $3.66 lower at $338.45. Select boxes closed $4.46 lower at $307.57.
Wednesday’s estimated cattle slaughter was 119,000, 6,000 more than last week and 3,000 more than a year ago.
Lean hog futures were mostly higher on spread trade and contracts’ discount to cash. October was up $1.35 at $90.15, and December was $.52 higher at $82.47.

Cash hogs closed steady to lower.
National Direct barrows and gilts closed $3.42 lower at a weighted average of $89.53.
The Red Oak, Iowa market sold barrows and gilts steady at $67.00. Red Oak sows were steady at $55.00 to $80.00.
Illinois Direct slaughter sows were $2.00 lower, with moderate to good demand for heavy offerings.
US 1-3 under 400 lbs. $68.00-$72.00
400-500 lbs. $73.00-$75.00
500-600 lbs. $76.00-$78.00
Over 600 lbs. $79.00-$83.00
Boars: under 300 lbs. $45.00-$50.00
over 300 lbs. $10.00-$12.00
Illinois Direct barrows and gilts are steady, with moderate to good demand. 220-290 lbs. at $56.00 to $65.00.

The pork carcass cutout value closed $2.47 lower at $106.54.
Estimated hog slaughter Wednesday is 479,000 head, 6,000 more than last week, 3,000 more than last year.