Market News

Midday cash livestock markets

Direct cash cattle trade is starting to pick up with a few deals in parts of Nebraska this morning at $175.00, which is steady with last week’s weighted average.  Other bids are reported at $109 to $110 live.  However, some are reportedly still holding out for higher money.  It is quite possible significant trade volume could be delayed until after today’s on-feed report is released.  Asking prices are around $112 to $113 in the South and $176 to $177 in the North.

Boxed beef is firm at the midday on light to moderate box movement.  Choice is up $.49 at $200.06 and Select is up $.45 at $191.21.

At the Ogallala Livestock Auction in Nebraska receipts were up on the week.  Compared to last week’s auction steers were $2.00 to $9.00 higher and heifers were steady to $2.00 lower.  The USDA says demand was good for all cattle offered.  Feeder supply was 69 percent steers and 11 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1 502 to 547 pounds were $180.00 to $203.00 and Medium and Large 1’s 550 to 598 pounds were $173.00 to $191.00.  Feeder heifers, Medium and Large 1’s 452 to 498 pounds were $157.00 to $176.00 and Medium and Large 1’s 551 to 598 pounds were $153.00 to $170.00.

Cash hogs opened lower.  The trade continues to watch the availability of market-ready numbers.  Packers have been aggressive this week and are expected to finish the week strong.

Barrows and gilts at the Iowa/Southern Minnesota opened $.32 lower with a range $60.00 to $64.50 with a weighted average of $63.89; the Western Corn Belt is down $.91 with a range of $60.00 to $64.50 and an average of $63.17; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.24 lower with a range of $60.00 to $64.50 and an average of $63.25.

Butcher hogs at the Midwest cash markets are closed today.

At the Interior Missouri Direct, barrows and gilts are steady to $2.00 higher at $54.00.  Sows are steady with sows under 500 pounds are $24.00 to $30.00 and sows over 500 pounds are $27.00 to $34.00.  For the week barrows and gilts are $5.00 to $10.00 higher and sows are steady to $4.00 higher.

At Illinois, slaughter sows are $3.00 higher with good demand for moderate to heavy offerings.  Barrows and gilts are $3.00 higher at $40.00 to $46.00 with good demand for moderate offerings.

Pork is higher, up $1.83 at $76.15.  The primals were mostly higher including a strong showing in the belly – which is up $4.92 at the midday.