Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. Most markets have been at a standstill all week, in pretty sharp contrast to last week’s business, which was basically wrapped up by Tuesday. Today, asking prices are $124 to $125 live and $197 to $198+ dressed with bids of $118 live and $190 to $192 dressed.

Boxed beef at midday was lower. Choice was down $.58 at $205.11 and Select was $.48 lower at $200.39.

At the Mitchell Livestock Auction feeder cattle sale in South Dakota Thursday, steers and heifers were steady to sharply higher than the previous week, with the best tests on steers weighing 600 to 900 pounds and heifers weighing 550 to 900 pounds. The USDA says demand was very good for an active market and receipts were up on the week and the year at 8,075 head. Flesh condition was mostly moderate and the quality was average to attractive. 56% of the offering were steers and 91% weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds sold at $148.50 to $163.50 and 800 to 900 pound steers brought $141.25 to $153.75. Medium and Large 1 feeder heifers weighing 600 to 690 pounds were reported at $147.50 to $164 and 700 to 800 pound heifers ranged from $135.75 to $145.50.

Cash hogs are just about unchanged, with a firm undertone. It looks like buyers have most of their needs covered, even if negotiated numbers have been light this week. Saturday’s kill is estimated at 145,000 head. Warmer weather in parts of the Midwest is helping to ease movement issues, but weights have declined and market ready numbers may be a little tighter than expected. Part of the slowdown may also be related to demand uncertainties connected to trade deals, especially NAFTA.

Pork at midday was $.19 higher at $80.86. Hams and bellies were sharply higher, while loins, butts, picnics, and ribs were weak to sharply lower.

Iowa/Southern Minnesota direct barrows and gilts opened $.02 higher at $66.50 to $71.50 for a weighted average of $69.90, the Western Cornbelt is up $.20 at $63.50 to $71.50 with an average of $69.75, and national direct business is $.13 higher at $63.50 to $71.50 for an average of $69.84. Butcher hogs at the Midwest cash markets are steady at $49. Missouri direct butchers are steady at $62 on light to moderate supply and demand. Sows are steady at $28 to $36. Illinois direct sows are $1 higher at $30 to $43 with moderate demand for light to moderate offerings. Barrows and gilts are firm at $43 to $50 on moderate to good demand for moderate offerings. Boars range from $7 to $25.