Market News

Midday cash livestock markets

Direct cash cattle trade is light.  Packer inquiry has been improving with a few more bids on the table.  Today’s Fed Cattle Exchange helped to move some bids up to $110 in the South.  Other bids have been reported at $108 to $109 live and $173 dressed.  Asking prices are around $112 to $113 in the South and $178 to $180 in the North.  Look for trade volume to increase in the latter part of the week.

Today’s Fed Cattle Exchange was an improvement from last week, but again a less than stellar showing.  The total offering was 919 head with 230 head sold for 1 to 9 day delivery with a weighted average of $109.00.  Last week’s sale had 1,444 head with zero head sold.  The next event is scheduled for Wednesday, October 25, 2017.

Boxed beef is mixed at the midday on moderate box movement.  Choice is firm, $.23 higher at $197.89 and Select is weak, down $.48 at $189.37.

At the Philip Livestock Auction in South Dakota receipts were down on the week.  Feeder steers under 450 pounds were $6.00 higher and steers 650 pounds to 950 pounds were steady to $2.00 lower.  Feeder heifers were generally lower; however heifers 850 to 950 pounds were $2.00 to $4.00 higher.  The USDA says demand was very good on a moderate to active market.  Feeder supply was 59 percent steers and 17 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 550 to 592 pounds were $174.50 to $186.26 and Medium and Large 1’s 600 to 649 pounds were $171.00 to $180.50.  Feeder heifers, Medium and Large 1’s 450 to 496 pounds were $161.00 to $178.00 and Medium and Large 1’s 502 to 548 pounds were $158.00 to $170.00.

Cash hogs are higher at the midday.  The October rally continues and with strong packer margins combined with the number of market-ready hogs at their disposal – look for slaughter runs and market momentum to remain aggressive.

Barrows and gilts at the Iowa/Southern Minnesota opened $.55 higher with a range of $53.00 to $63.50 and an average of $61.67; the Western Corn Belt was $.71 higher with a range of $53.00 to $63.50 with an average of $61.76; and the Eastern Corn Belt was not reported due to confidentiality; the National Daily Direct is $.48 higher with a range of $53.00 to $63.50 with an average of $60.83.

Butcher hogs at the Midwest cash markets are steady to $2.00 higher at $37.00 to $40.00.

At the Interior Missouri Direct, barrows and gilts are $5.00 to $8.00 higher at $52.00 to $54.00.  The USDA says both supply and demand are light to moderate.  Sows are $1.00 to $4.00 higher with sows under 500 pounds $24.00 to $30.00 and sows over 500 pounds $27.00 to $34.00.

At Illinois, slaughter sows are $2.00 higher at $26.00 to $36.00 with moderate to good demand for heavy offerings.  Boars under 300 pounds are $18.00 to $26.00 and boars over 300 pounds were $7.00 to $13.00.  Barrows and gilts are $1.00 higher at $37.00 to $42.00 with moderate to good demand for moderate offerings.

Pork is lower at the midday – down $.84 lower at $73.97.  The primals are mostly lower with a sharp decline in the rib – down $2.14.