Market News

Midday cash livestock markets

Direct cash cattle trade has been non-existent today.  Business looks to be finished for the week following Tuesday and Wednesday’s light to moderate trade volume.  The strongest sales were achieved early and from midweek on, packers steadily bid lower.  Trade volume totals for the week are decent, especially in the North.

Boxed beef cutout is weak to lower at the midday on light to moderate box movement.  Choice is down $1.09 at $224.12 and Select is down $.29 at $217.73.

In Oklahoma, receipts are down on the week and on the year.  Feeder steers and heifers sold $2.00 to $6.00 lower.  Feedyards are filling up due to drought conditions and that is limiting the outlet for two-way cattle trade.  Feeder supply was 43 percent heifers and 62 percent of the offering was over 600 pounds.  Feeder steers, Medium and Large 1’s 750 to 799 pounds were $125.00 to $146.00 and Medium and Large 1’s 800 to 840 pounds were $127.50 to $139.00.  Feeder heifers, Medium and Large 1’s 750 to 798 were $114.00 to $131.50 and Medium and Large 1’s 801 to 840 were $115.00 to $125.75.

Cash hogs are steady at the midday.  The big news surrounds China’s move to retaliate against higher tariffs imposed by the Trump Administration.  The 25 percent tariff makes US pork less competitive in the Chinese market – the second largest market by volume and third largest in value for US pork.  Large offerings and potentially shaky demand give hog buyers plenty of leverage.  Saturday’s estimated kill is 110,000 head and that should push weekly slaughter totals over 2.4 million head.

Barrows and gilts at the National Daily Direct are $.03 lower with a range of $49.00 to $54.03 and a weighted average of $53.96.  Prices at the regional direct markets were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets at Dorchester, Wisconsin and Garnavillo, Iowa are $2.00 lower at $34.00 to $38.00.  The Zumbrota, Minnesota market is closed on Fridays.

At the Interior Missouri Direct, barrows and gilts are steady at $50.00 to $51.00 on light to moderate supply and demand.  Sows are steady at $28.00 to $44.00.  For the week barrows and gilts are steady to $4.00 lower and sows are $1.00 to $5.00 lower.

At Illinois, slaughter sows are $3.00 lower at $29.00 to $42.00 with light to moderate demand for light offerings.  Barrow and gilt prices are weak at $33.00 to $40.00 with light to moderate demand for moderate offerings.

Pork cutout is firm at the midday up $.24 at $70.98.  The primals are mixed including a $1.76 gain in the loin and a nearly $1.00 drop in the butt.