Market News

Midday cash livestock markets

Direct cash cattle trade has been quiet and it looks like business has wrapped for the week.  Asking prices for the balance of showlists are around $118 live in the South and $185 dressed in the North.

Boxed beef is mixed at the midday on light box movement.  Choice down $.06 at $232.62 and Select up $.42 at $208.66.  The Choice/Select spread is $23.96.

At the Mitchell Livestock Auction in South Dakota, receipts were down on the week.  Heavier weight steers were $4.00 lower with other weights not well compared, heavier weight feeder heifers were $1.00 to $7.00 lower.  The USDA says demand was mostly moderate for today’s offering of average to attractive cattle.  Feeder supply included 51 percent steers and 96 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 801 to 847 pounds were $129.75 to $137.75 and feeder steers 907 to 949 pounds were $123.25 to $130.00.  Medium and Large 1 feeder heifers 722 to 745 pounds were $122.00 to $130.50 and feeder heifers 864 to 885 pounds were $115.25 to $121.00.

Cash hogs were called steady to $1.00 higher this morning.  Processor margins are holding, but they could begin to shrink over the next few weeks.  Producer margins look to continue to improve as demand continues to strengthen.  Prices at all the major regional direct markets were not reported due to confidentiality.

Yesterday – cash hogs closed higher.  Barrows and gilts at the Iowa/Southern Minnesota closed $.51 higher with a range of $64.50 to $66.00 and a weighted average of $65.57; the Western Corn Belt closed $.53 higher with a range of $59.00 to $66.00 and a weighted average of $65.26; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct closed $.58 higher with a range of $59.00 to $66.00 with a weighted average of $65.08.

Butcher hogs at the Midwest cash markets are steady at $40.00.  The market at Zumbrota, Minnesota are closed on Fridays.  At the Interior Missouri Direct, receipts are up on the week and the year.  Barrows and gilts are steady at $52.00 to $58.00 with light to moderate supply and demand.  Sows are steady at $30.00 to $43.00.  For the week barrows and gilts are steady to $4.00 higher and sows are $2.00 to $4.00 lower.  At Illinois, slaughter sows are steady at $30.00 to $44.00 with moderate demand for moderate offerings. Barrows and gilts are steady at $37.00 to $46.00 with moderate demand for moderate offerings.

Pork values are lower at the midday – down $1.67 at $73.83.  The primals are all lower – led by the ribs, hams, and picnics.