Market News

Midday cash livestock markets

 

Direct cash cattle markets are quiet. This week’s direct cash business has mostly been at $128 on the live basis and $204 to $205 dressed, generally steady to $2 lower than the previous week’s business. Trade has been light to moderate, so there could still be some clean-up, but widespread business is probably over the for week. Asking prices are reported at $130 live and $206 dressed, with scattered bids at $128 live and $202 dressed. The USDA’s Cattle on Feed report is out at 3 Eastern/2 Central. On average, analysts expect increases in all the major categories, including big jumps in marketings and the on feed total.

Beef at midday was mixed with light movement. Choice was down $.32 at $218.08 and Select was up $.83 at $212.89.

At the Mitchell Livestock Auction feeder cattle sale in South Dakota Thursday, compared to the previous week, steers were $2 to $5 lower, except for 700 to 750 pound steers, which held steady. Feeder heifers were steady to $3 lower, with instances of $4 lower on 600 to 650 pound heifers. The USDA says demand was mostly moderate, good for cattle with light flesh condition, which ranged from light to moderate plus. 59% of the offering were steers and 93% of the run weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 800 to 900 pounds ranged from $136.25 to $148.10 and 900 to 1,000 pound steers brought $133.25 to $138.10. Medium and Large 1 feeder heifers weighing 600 to 700 pounds sold at $144.50 to $155.75 and 700 to 800 pound heifers were reported at $136 to $145.

Cash hogs are steady to lower. Buyers are extending their leverage again, spending less to move the needed numbers, while improving margins. Some areas have seen weather disruptions, but chain speed has stayed at a high level and movement has generally been heavy enough to keep supplies from backing up. Estimates for Saturday’s kill have climbed to more than 130,000 head.

Pork at midday was up $.77 at $79.47. Loins, butts, picnics, ribs, and hams were firm to sharply higher, while bellies were modestly lower.

Iowa/Southern Minnesota direct barrows and gilts opened $.52 lower at $62 to $63.75 for a weighted average of $63.19, the Western Cornbelt is down $.69 at $57 to $63.75 with an average of $62.89, and national direct business is $.73 lower at $57 to $63.75 for an average of $62.83. Butcher hogs at the Midwest cash markets are $2 lower at $44. Missouri direct butchers are steady at $55 to $61 on light to moderate supply and demand. Sows are steady at $38 to $54. Illinois direct sows are $2 to $3 lower at $40 to $55 on light to moderate demand and offerings. Barrows and gilts are $2 lower at $40 to $44 on moderate demand and offerings. Boars range from $10 to $28.