Market News

Midday cash livestock markets

 

Light direct cash cattle business is developing in the north at $204 to $205 on the dressed basis, steady to $1 lower than last week’s weighted average. Wednesday’s business was primarily at $128 on the live basis in most of the major feeding areas, down $2 on the week, with lighter dressed trade in parts of the north mainly at $203 to $205, steady to $2 lower. There’s still business left to be done, especially in the north. Asking prices are around $130 live and $205 dressed, with bids at $127 to $128 live. The USDA’s Cattle on Feed report is out Friday at 3 Eastern/2 Central, with most analysts expecting strong January marketings, near steady placements, and a higher on feed total.

Boxed beef at midday was firm on light movement. Choice was up $.04 at $217.41 and Select was $.22 higher at $212.14.

At the Hub City Livestock Auction feeder cattle sale in South Dakota Wednesday, compared to the previous week, steers were mostly lower and heifers were mostly steady. The USDA says the market was active, with good to very good demand for an attractive quality offering. 51% of the feeders were steers and 98% of the weekly run weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 800 to 900 pounds were reported at $134.50 to $149 and 900 to 1,000 pound steers brought $133 to $142.25. Medium and Large 1 feeder heifers weighing 700 to 800 pounds sold $130 to $143.25 and 800 to 900 pound heifers ranged from $127.75 to $136.75.

Cash hogs are steady to lower. Buyers are continuing their recent efforts to move the needed numbers at mostly lower prices as they try to further improve their margins. Winter weather, including ice, has slowed down movement in some areas, pushing the estimate for Saturday’s kill to more than 125,000 head. Monthly cold storage and livestock slaughter numbers are out this afternoon, along with 2017 cold storage totals.

Pork at midday was up $.88 at $79.61. Loins were weak, butts were unchanged, and the other primal cuts were higher, including a $2.21 gain in picnics.

National direct barrows and gilts opened $.57 lower at $57 to $63.50 for a weighted average of $63.36. Iowa/Southern Minnesota, the Western Cornbelt, and Eastern Cornbelt were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady to $2 lower at $41 to $46. Missouri direct is steady to $7 lower at $55 to $61 on light to moderate supply and demand. Sows are steady at $38 to $54. Illinois direct sows are steady at $42 to $58 on moderate demand for light to moderate offerings. Barrows and gilts are steady at $40 to $46 with moderate demand for moderate offerings. Boars range from $10 to $28.