Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. Both sides are starting the week getting at look at this week’s showlist. The ready numbers are expected to be steady to a little larger, a combination of seasonal expansion and carryover from last week. Asking prices could start off around $136 to $138 on the live basis and $215 to $220 dressed. Widespread business is not expected until the second half of the week. Buyers will be watching margins and getting ready for a holiday shortened week next week. Last week’s live trade in the south was mostly at $134, down $3.50 to $4 on the week, and dressed business in the north was primarily at $213, $8 lower than the previous week’s weighted average for Nebraska.

Boxed beef at midday was higher with Choice up $.64 at $247.78 and Select $1.09 higher at $222.51.

Last week in South Dakota, feeder steers weighing less than 700 pounds were $2 to $3 higher, with steers weighing more than 700 pounds unevenly steady. Feeder heifers weighing less than 750 pounds were $3 to $4 higher, with heifers weighing more than 750 pounds were $1 to $3 lower. Demand was called moderate to good overall, but lessened by last Monday’s drop in futures. Medium and Large 1 700 to 780 pound steers brought $146.50 to $168 and Large 1 steers weighing 1,000 to 1,080 pounds were reported at $130.75 to $141. Medium and Large 1 heifers weighing 800 to 900 pounds came out at $127.25 to $143 and 900 to 990 pounders sold at $123.50 to $132.

Cash hogs are steady to lower. Buyers are starting the week off assessing wholesale demand and the availability of market ready numbers. Even with the somewhat tighter supplies, the slaughter’s been running ahead of last year pretty consistently, so there’s plenty of pork available with cold storage numbers out at 3 PM Eastern/2 PM Central.

Iowa/Southern Minnesota direct barrows and gilts opened $1.05 lower at $69 to $71 for a weighted average of $70.29, the Western Cornbelt is down $1.07 at $69 to $71 with an average of $70.14, and national direct business is $.67 lower at $69 to $71 for an average of $70.17. Butcher hogs at the Midwest cash markets are steady at $47 to $52. Missouri direct butchers are steady at $63 to $66 on light to moderate supply and demand. Sows are steady at $38 to $50.

Pork at midday was $.57 higher at $87.83. Loins, ribs, and bellies were higher, butts, picnics, and hams were lower.