Market News

Midday cash livestock markets

Direct cash cattle trade is a typically quiet Tuesday.  There are just a few scattered asking prices around $113.00 in parts of Texas. No bids on the table just yet and significant trade volume will likely be delayed until the second half of the week.

Boxed beef is lower at the midday with light to moderate box movement.  Choice is down $.30 at $198.51 and Select is down $.75 at $189.82.  The Choice/Select spread is $8.69.

At the Oklahoma National Stockyards, receipts were up on the week and feeder steers were steady to $2.00 higher.  Feeder heifers were mostly $1.00 to $4.00 lower with steer calves steady to $3.00 higher.  The USDA says demand was moderate to good and quality was average to attractive.  Feeder supply included 61 percent steers and 55 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 654 to 699 pounds were $155.00 to $166.00 and Medium and Large 1’s 750 to 788 pounds were $152.00 to $165.00.  Feeder heifers, Medium and Large 1’s 600 to 639 pounds were $143.50 to $153.25 and Medium and Large 1’s 664 to 693 pounds were $146.00 to $151.50.

Cash hogs are higher at the midday.  Producers have been benefiting from the recent aggressive move by packers.  With a steady pork supply and strong packer margins, look for the momentum to continue in the cash hog complex.  Even with the seasonally large runs of hogs.

Barrows and gilts at the Iowa/Southern Minnesota are $1.36 higher with a range of $58.00 to $61.50 and an average of $61.02; the Western Corn Belt is $1.11 higher with a range of $53.00 to $61.50 and an average of $60.68; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.54 higher with a range of $53.00 to $61.50 and an average of $58.91.

Butcher hogs at the Midwest cash markets are steady at $35.00 to $40.00.

At the Interior Missouri Direct, barrows and gilts are steady at $44.00 to $49.00.  The USDA says supply and demand are light to moderate.  Sows are steady with sows under 500 pounds $23.00 to $26.00 and sows over 500 pounds $26.00 to $30.00.

At Illinois, slaughter sows are firm at $25.00 to $34.00.  The USDA says demand was moderate to good for moderate to heavy offerings.  Barrows and gilts are firm at $36.00 to $41.00 with moderate to good demand for moderate offerings.

Pork is lower at the midday – down $.70 at $74.55.  The primals are mixed including a $4.22 drop in the loin.