Market News

Midday cash livestock markets

 

Direct cash cattle markets are quiet with buyers and sellers getting a look at this week’s showlist. The ready numbers are expected to about steady with last week. Last week’s trade was mainly at $123 on the live basis and $195 dressed. The week’s trade and weight gains could be impacted by a winter storm in some of the major U.S. feeding areas.

Boxed beef at midday was modestly lower on light movement. Choice was down $.25 at $204.61 and Select was $.54 lower at $199.62.

At the Lexington Livestock Market in Nebraska Friday, feeder steers weighing more than 600 pounds were $3 to $6 higher and heifers weighing 600 to 750 pounds were $4 to $6 higher. The USDA says demand was good. 62% of the run were steers and almost 86% of the weekly offering weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 600 to 700 pounds ranged from $154 to $174 and 700 to 800 pound steers brought $145.50 to $157.50. Medium and Large 1 feeder heifers weighing 600 to 680 pounds sold at $145 to $160 and 710 to 780 pounders were reported at $140.75 to $150.25.

Cash hogs are mostly steady with a firm undertone. The market’s assessing the available numbers, while keeping an eye on a winter storm in parts of the Midwest early this week. Last week’s negotiated sales were a little lighter than anticipated with the weekly total only slightly ahead of last year, impacted by both a holiday and adverse weather conditions. Processing margins are good, but have tightened, and there’s a lot of uncertainty about trade, some of which are connected to NAFTA. Negotiations on the trade pact are scheduled to resume Tuesday in Montreal.

Pork at midday was $.11 lower at $81.33. Loins, butts, ribs, and hams were weak to sharply lower. Picnics were up sharply and bellies gained $4.55.

National direct barrows and gilts opened $.36 higher at $62 to $69.81 with a weighted average of $69.59. Iowa/Southern Minnesota, the Western Cornbelt, and the Eastern Cornbelt were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $44 to $48. Missouri direct butchers are steady to $1 higher at $62 to $63 on light to moderate supply and demand. Sows are steady to $2 higher at $28 to $38. Illinois sows are firm at $30 to $43 on moderate demand for light to moderate offerings. Barrows and gilts are steady at $43 to $50 on moderate to good demand for moderate offerings. Boars range from $7 to $25.