Market News

Midday cash livestock markets

Direct cash cattle trade is quiet with business limited to the distribution of new showlists.  The offering could be larger than last week.  Look for trade to do one of two things – pick up early in the week and complete business before Thursday’s holiday or be delayed until the final day of the week.  No bids or asking prices have yet to develop at midday.

Boxed beef is mixed at the midday on light to moderate box movement.  Choice is sharply lower at $1.68 at $205.56 and Select is up $.67 at $188.52.  The Choice/Select spread is at $17.04.

The South Dakota cattle auction receipts were down significantly from the previous week.  Steer calves under 700 pounds were $4.00 to $5.00 lower and calves over 700 pounds were $1.00 to $3.00 lower.  Lightweight heifer calves were mostly $4.00 to $5.00 lower.  Yearling feeder steers were $1.00 to $2.00 higher and heifers were unevenly steady.  The USDA says demand was moderate for calves and good for yearlings.  Feeder steers, Medium and Large 1’s 500 to 599 pounds were $173.00 to $201.50 and Medium and Large 1’s 600 to 648-pound calves were $161.50 to $179.00.   Feeder heifers, Medium and Large 1’s 500 to 548 pounds were $148.00 to $173.25 and Medium and Large 1’s 600 to 649-pounds were $148.00 to $156.75.

Cash hogs are weak at the midday.  This week’s shortened slaughter schedule could work to support the wholesale market.  However, it is likely setting up larger kill totals for next week into early December.

Barrows and gilts at the Western Corn Belt are $.64 lower with a range of $55.00 to $57.00 and an average of $56.38; the Iowa/Southern Minnesota and the Eastern Corn Belt were not reported due to confidentiality; and the National Daily Direct was $.33 lower with a range of $55.50 to $57.00 and an average of $56.63.

At the Interior Missouri Direct, barrows and gilts are steady at $52.00 on light to moderate supply and demands.  Sows are $1.00 to $3.00 lower at $32.00 to $42.00.

At Illinois, slaughter sows are $1.00 lower at $35.00 to $46.00 with moderate demand for moderate to heavy offerings.  Barrows and gilts are weak at $36.00 to $44.00 with moderate demand for moderate offerings.

Pork value is sharply higher at the midday – up $2.08 at $83.04.  The primals were mostly higher lead by the ham, the loin, and the butt.