Market News

Midday cash livestock markets

Direct cash cattle markets are quiet, getting ready for the bulk of this week’s business. Moderate trade was reported in Nebraska Wednesday, mainly at $117 live and $188 dressed, with much lighter activity in Kansas at $117. Most of the other major feeding areas remained quiet, so more activity is expected to develop over the next couple of days. Asking prices are firm at $120 on the live basis in the South and $192 dressed in the North. Bids are reported at $117 to $118 live and $187 to $188 dressed.

Boxed beef at midday was lower. Choice was down $.26 at $206.81 and Select was $.64 lower at $197.23.

At the Bassett Livestock Auction feeder sale in Nebraska Wednesday, compared to two weeks ago, 650 to 750 pound steers were $2 to $3 lower and 850 to 1,000 pounders were steady to $4 higher. With a limited comparison, 800 pound heifers were steady. The USDA says demand was good. Feeder cattle made up the entirety of the offering, 76% of the run were steers, and nearly 95% of this week’s slate weighed more than 600 pounds. Medium and Large 1 620 to 700 pound feeder steers were reported at $172 to $181 and 900 to 1,000 pound steers brought $150 to $160.75. Medium and Large 1 feeder heifers weighing 600 to 685 pounds ranged from $154 to $170 and 825 to 880 pound heifers sold at $145 to $148.

Cash hogs are steady to lower. Buyers continue to monitor processing margins, the availability of market ready numbers, and wholesale business. The seasonal expansion of market ready numbers is expected to really get underway in the near future and pork trade could be close to a seasonal top. Also, the expected expansion of those market ready numbers would put even more pork on the market. Supplies are ample, but good demand and lighter carcass weights have limited some of that impact.

National direct barrows and gilts opened $.80 lower at $80.28 to $82.50 for a weighted average of $80.95 and a five day rolling average of $82.18. The Iowa/Southern Minnesota, Western Cornbelt, and Eastern Cornbelt direct markets were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $54 to $66. Missouri direct butchers are steady at $77 to $78 on light to moderate supply and demand. Sows are steady at $54 to $58. Illinois direct sows are firm at $62 to $72 on very good demand for moderate to heavy offerings. Barrows and gilts are $1 lower at $53 to $58 with light to moderate demand for moderate offerings. Boars range from $10 to $38.

Pork at midday was $1.19 lower at $99.39. Loins were up, all other primals were weak to lower, including a $4.20 loss in bellies.