Market News

Midday cash livestock markets

Direct cash cattle markets are quiet and today’s big feature should be the distribution of this week’s showlist. Last week, live trade in the South was mainly at $108, up $2 from the previous week, and business in the North was primarily at $170 to $172, about $3 to $5 higher than the prior weighted average in Nebraska. Some live sales were reported at $109 and dressed trade had an extreme top of $176. Overall, it looks like activity was light to moderate. Asking prices this week could start out around $110 to $112 on the live basis, with widespread activity expected to wait until at least Wednesday.

Boxed beef at midday was sharply higher, with Choice up $1.78 at $193.38 and Select was $1.56 higher at $190.29.

At the opening of auction activity at Oklahoma National Stockyards Monday, feeder steers were $2 to $5 lower and heifers were steady to weak. Steer and heifer calves are lightly tested with a lower undertone. The USDA says demand is moderate for yearlings and light for stockers and calves, and overall, the early quality of the offering is mostly average. 64% of this week’s supply are steers and 70% of all feeders weigh more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds sold at $142 to $155 and 900 to 1,000 pound steers brought $138.75 to $143.85. Medium and Large 1 feeder heifers weighing 600 to 700 pounds were reported at $145 to $152 with heifer calves averaging 619 pounds at $136.

Cash hogs are steady to lower. Buyers continue to hold a lot of leverage over the market, with more than ample market ready numbers and solid processing margins. Last week’s kill topped 2.5 million head with a string of record daily slaughters and the recently added pork plants aren’t even fully on-line yet.

Western Cornbelt direct barrows and gilts opened $.70 lower at $44 to $49 for a weighted average of $48.02 and national direct business is down $.98 at $44 to $49 with an average of $47.51. Butcher hogs at the Midwest cash markets are steady to $2 lower at $31 to $36. Missouri direct butchers are $3 lower at $40 to $43 on light to moderate supply and demand. Sows are steady to $3 lower at $18 to $30. Illinois direct sows are steady at $23 to $32 on moderate demand for light to moderate offerings. Barrows and gilts are weak at $28 to $36 with moderate demand for moderate offerings. Boars range from $5 to $18.

Pork at midday was $2.10 higher at $74.80. Ribs were lower, all other primals were higher, including a $5.67 gain in the bellies.