Market News

Midday cash livestock markets

Direct cash cattle trade is silent with both bids and asking prices pretty much non-existent.  It looks like cash business is finished for the week.  Trade volume was moderate at best through Wednesday and it’s a likely presumption that next week’s offering will be somewhat larger by the carryover from this week’s unsold cattle.

Boxed beef is sharply higher at the midday on light box movement.  Choice is up $1.75 at $210.76 and Select is up $2.00 at $190.64.  The Choice/Select spread is $20.12.

At the Ozark Regional Stockyards in Missouri, lightweight steer calves were steady to $3.00 higher with heavier weights $4.00 to $8.00 lower.  Heifer calves were $2.00 to $6.00 lower and yearlings were lightly tested with lower undertones.  Receipts were 1,844 head – down from the previous week and year.  The USDA says demand was moderate on a light supply with the best demand in lightweight feeders.  Feeder supply included 50 percent steers and 30 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 500 to 600 pounds were $155.00 to $166.00 and Medium and Large 1’s 600 to 700 pounds were $161.00 to $162.00.  Feeder heifers, Medium and Large 1’s 500 to 600 pounds were $140.00 to $150.00 and Medium and Large 1’s 600 to 700 pounds were $138.00 to $140.00.

Cash hogs are mixed at the midday.  The trade continues to watch the availability of market-ready numbers.  Packer demand has picked up this week and there are big kill totals expected for Saturday – around 346,000 head.  With these continued larger runs – it could add more pressure to prices.

Barrows and gilts at the Iowa/Southern Minnesota are $.27 higher with a range of $50.00 to $58.00 and an average of $57.08; the Western Corn Belt is $.24 lower with a range of $50.00 to $58.00 and an average of $56.57; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.78 lower with a range of $50.00 to $58.00 and an average of $55.87.

The Midwest cash markets are closed today.

At the Interior Missouri Direct, barrows and gilts are steady at $50.00 to $51.00 with very light expected receipts today due to the holiday.  Sows were steady at $30.00 to $40.00.  For the week barrows and gilts ended $1.00 to $2.00 lower.  Sows were steady to $7.00 lower.

Pork value is steady at the midday with a firm undertone – up $.19 at $82.17.  The primals are mixed with a strong gain in the loin cancelled out by a sharp decline in the picnic.