Market News

Midday cash livestock markets

 

Direct cash cattle business is underway in the South. Sales are reported at $121 live in Texas, up $4 from last week’s weighted average, and $122 in Kansas, also $4 higher. Asking prices are now $122 to $124 live and $195+ dressed, with bids at $190 dressed. Light trade was reported yesterday in Nebraska at $185.50 to $186.50 dressed and this week’s Fed Cattle Exchange trade was relatively light compared to the offering, but prices were up sharply on the week. Margins have gotten tighter, limiting packer interest. USDA Cattle on Feed report is out Friday at 3 Eastern/2 Central.

Boxed beef at midday was mixed on moderate to heavy movement. Choice was down $.04 at $211.60 and Select was up $.61 at $199.18.

At the St Joseph Stockyards feeder sale in Missouri Wednesday, compared to the previous week, steers and heifers were steady to sharply higher, with the best gains on steers weighing 700 to 750 pounds. The USDA says trade was active and demand was good, especially for long weaned calves. Medium and Large 1 feeder steers weighing 500 to 600 pounds were reported at $170 to $188 and 600 to 700-pound steers brought $155 to $177.75, while 700 to 800 pounders were pegged at $145 to $170. Medium and Large 1 feeder heifers weighing 500 to 600 pounds sold at $145 to $159.50 and 600 to 700-pound heifers ranged from $134.25 to $151.

Cash hogs are steady to sharply higher, with a good opening negotiated run for the major direct markets. Buyers raised bids again, with tighter market ready numbers and some signs wholesale business is about to turn the seasonal corner. Estimates for Saturday’s kill are around 120,000 head and the weekly total could top 2.4 million head, but that would likely be the last time it hits that mark for at least the next few months. The USDA’s red meat production numbers for March are out today at 3 Eastern/2 Central.

Pork at midday was up $.40 at $68.86. Loins and hams were firm, while bellies gained $3.13. Butts, picnics, and ribs were lower.

Iowa/Southern Minnesota direct barrows and gilts opened $2.87 higher at $48 to $59 for a weighted average of $57.64, the Western Cornbelt is up $2.87 at $48 to $59 with an average of $57.60, and national direct business is $2.05 higher at $48 to $59 for an average of $56.22. Butcher hogs at the Midwest cash markets are steady at $33 to $34. Missouri direct is steady at $43 to $48 on light to moderate supply and demand. Sows are steady at $25 to $40. Illinois direct sows are mixed at $30 to $44 on moderate demand for moderate to heavy offerings. Barrows and gilts are $2 higher at $32 to $40 with good demand for moderate offerings. Boars range from $8 to $17.