Market News

Midday cash livestock markets

Direct cash cattle trade has been relatively quiet this morning.  There have been a few cleanup deals reported in parts of the South.  Packer inquiry in the North indicates trade volume still looks a little short for the week.  Look for more business in Nebraska and Iowa before the week is complete.  Asking prices are reported around $128.00 to $129.00 on a live basis and $207-plus, dressed.  Bids have been reported at $127 live and $205 to $206 dressed.

Boxed beef is higher at the midday on light to moderate box movement.  Choice up $.73 at $225.72 and Select up $.86 at $217.17.  The Choice/Select spread is $8.55.

At the Mitchell Livestock Auction in South Dakota on Thursday, steers and heifers were mostly steady to $5.00 lower.  Receipts were up significantly on the week and up moderately on the year.  The USDA says demand was moderate to good as buyers were very mindful of flesh condition.  Most were moderate to moderate plus.  Feeder cattle were 63 percent steers and 96 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 758 to 798 pounds were $145.00 to $150.10 and Medium and Large 1’s 903 to 944 pounds were $126.25 to $133.85.  Feeder heifers, Medium and Large 1’s 707 to 735 pounds were $136.00 to $141.00 and Medium and Large 1’s 808 to 847 pounds were $123.00 to $131.50.

Cash hogs are lower at the midday.  The trade continues to watch hog weights and the availability of market-ready numbers.  Export demand has continued to show strength, however concerns over contentious trade talks has the market worried about the potential for a negative impact on demand.  Processor margins have continued to improve this week.

Barrows and gilts at the Iowa/Southern Minnesota are $1.89 lower with a range of $53.00 to $58.50 and a weighted average of $56.78; the Western Corn Belt is $1.55 lower at the midday with a range of $53.00 to $58.50 and a weighted average of $57.02; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.96 lower with a range of $53.00 to $58.50 and a weighted average of $57.61.

Butcher hogs at the Midwest cash markets are $2.00 lower at $44.00.  The markets at Zumbrota, Minnesota and Garnavillo, Iowa are closed.

At the Interior Missouri Direct, barrows and gilts are steady to $1.00 lower with light to moderate supply and demand.  Sows are steady to $1.00 lower at $33.00 to $45.00.  For the week, barrows and gilts are $1.00 to $2.00 lower and sows are $1.00 to $3.00 lower.

At Illinois, slaughter sow prices are weak with light to moderate demand for moderate to heavy offerings.  Sow prices range from $34.00 to $50.00.  Barrows and gilts are $1.00 lower at $35.00 to $42.00 with light to moderate demand for moderate offerings.

Pork value is down $.30 at $72.50.  The primals are mostly lower including a $3.09 drop in the ham.  However, bellies are sharply higher at the midday – up $4.48.