Market News

Midday cash livestock markets

Direct cash cattle trade activity is limited to the distribution of new showlists.  Ready numbers are expected to be about even with last week.  Asking prices are not defined and likely won’t be until at least later on Wednesday.

At the CME cattle futures did open under pressure largely related to Friday’s larger than expected September placement in the cattle on feed report.

Boxed beef is mixed at the midday on light to moderate offering.  Choice is down $.54 at $199.32 and Select is up $.71 at $191.85.  The Choice/Select spread at midday is $7.47.

Nebraska’s weekly feeder cattle report had receipts up on the week.  Compared to the previous week steer calves under 700 pounds were mostly steady to $2.00 higher and steers over 700 to 800 pounds were $3.00 higher and steers over 800 pounds were $2.00 to $5.00 lower.  Heifer calves under 700 pounds were $3.00 to $6.00 lower and heifers over 700 pounds were unevenly steady.  The USDA says demand was good at all reporting auctions.  Feeder supply included 68 percent steers and 37 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 550 to 600 pounds were $165.00 to $191.00 and calves, Medium and Large 1’s 600 to 646 pounds were $163.00 to $186.50.  Feeder heifers, Medium and Large 1’s 500 to 549 pounds were $151.25 to $171.00 and Medium and Large 1’s 550 to 599 pounds were $147.00 to $170.00 and

Cash hogs opened sharply lower this morning.  Seasonally we’re headed toward the largest runs of the year.  The trade continues to watch the availability of market-ready numbers.

Barrows and gilts at the Iowa/Southern Minnesota are down $2.62 with a range of $62.00 to $64.00 and an average of $62.56; the Western Corn Belt opened $2.56 lower with a range of $62.00 to $64.00 and an average of $62.56; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct was down $.01 with a range of $62.00 to $64.65 and an average of $64.45.

Butcher hogs at the Midwest cash markets are steady to $2.00 higher at $39.00 to $44.00.

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

At Illinois, slaughter sow prices are firm at $32.00 to $41.00.  The USDA says demand is good for moderate to heavy offerings.   Boars under 300 pounds are $18.00 to $26.0 and boars over 300 pounds are $7.00 to $13.00.  Barrows and gilts are firm at $41.00 to $46.00 with good demand for moderate offerings.

Pork is slightly lower at the midday – down $.19 at $75.31.  The primals are mixed with a $2.75 drop in the picnic.