Market News

Midday cash livestock markets

 

Direct cash cattle trade has been generally quiet through the midday.  There has been some light packer inquiry in parts of the North – but the bids remain well below the higher asking prices of $172.00 to $174.00.  The South is at a complete standstill with asking prices around $110.  Bids are reported at $104.00 live and $165 to $168 dressed.  We could see significant trade volume delayed until after the cattle on feed report is released tomorrow afternoon.

Boxed beef cutouts are weak at the midday on light to moderate box movement.  Choice is down $.25 at $191.79 and Select is down $.21 at $188.31.

At the Union Livestock Auction in Oklahoma receipts were even with a week ago.  Compared to the most recent sale, steer calves under 450 pounds were $6.00 to $10.00 lower, over 450 pounds $1.00 to $4.00 lower.  Heifer calves were steady to $5.00 higher.  The USDA says quality was average to attractive and demand was moderate.  Feeder supply included 46 percent heifers and 29 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 500 to 550 pounds were $142.00 to $155.00 and Medium and Large 1’s 600 to 650 pounds were $132.00 to $144.00.  Feeder heifers, Medium and Large 1’s 400 to 450 pounds were $141.00 to $154.00 and Medium and Large 1’s 600 to 650 pounds were $127.00 to $140.00.

Cash hogs are trading lower.  The trade continues to monitor the availability of market-ready numbers.  With decent packer margins and a strong supply – chain speed doesn’t look to be slowing.

Barrows and gilts at the Iowa/Southern Minnesota are $.42 lower with a range of $48.00 to $51.50 and an average of $49.86; the Western Corn Belt is $.43 lower with a range of $48.00 to $51.50 and an average of $49.86; the Eastern Corn Belt was not reported due to confidentiality; the National Daily Direct is $.66 lower with a range of $48.00 to $51.50 and an average of $49.55.

Butcher hogs at the Midwest cash markets are steady at $33.00 to $40.00.

At the Interior Missouri Direct, barrows and gilts are steady to $2.00 lower at $43.00 to $46.00.  The USDA says both supply and demand are light to moderate.  Sows are steady with sows under 500 pounds $20.00 to $25.00 and sows over 500 pounds $24.00 to $30.00.

At Illinois, slaughter sows are steady with moderate demand for heavy offerings at $24.00 to $32.00.  Barrows and gilts are weak with moderate demand for moderate offerings.

Pork cutout is sharply lower at the midday – down $2.19 at $74.13.  All of the primals are lower including the $8.81 drop in the rib.