Market News

Midday cash livestock markets

Direct cash cattle trade has been quiet with bids nor asking prices established just yet.  Buyers and sellers will both keep a close eye on the board for any potential nods to the future of cash directions.  Don’t look for significant trade volume will happen until at least mid-week and with the upcoming long weekend – business could be wrapped up by Thursday.

At the Oklahoma National Stockyards, at the close, feeder steers were steady to $3.00 lower and feeder heifers were steady to $2.00 lower.  Steer and heifer calves traded with a much lower undertone on a limited comparable offering.  The USDA says demand was moderate and quality was average with a few attractive.  Feeder supply included 62 percent steers and 75 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 751 to 788 pounds were $132.00 to $141.50 and feeder steers 902 to 949 pounds were $118.00 to $126.25.  Medium and Large 1 feeder heifers 650 to 697 pounds were $130.50 to $139.00 and feeder heifers 701 to 747 pounds were $122.00 to $132.75.

Boxed beef is mixed at the midday on light to moderate box movement.  Choice up $.27 at $231.09 and Select down $.11 at $207.41.  The Choice/Select spread is $23.68.

Cash hogs were called steady this morning.  The major direct markets were not reported at midday due to confidentiality.  The trade continues to watch the availability of market-ready numbers.  Supply is still a concern, especially with demand uncertainties.  Keep an eye on this week’s kill totals.  Should the seasonal slow-down in slaughter numbers head into full swing, it will likely provide at least some price support to producers.

Butcher hogs at the Midwest cash markets are steady at the Zumbrota, Minnesota market at $40.00.  The markets in Wisconsin and Iowa are closed this week.  At the Interior Missouri Direct, barrows and gilts are $1.00 to $2.00 higher at $54.00 to $58.00 on light to moderate trade.  Sows are steady to $2.00 lower at $28.00 to $41.00.   At Illinois, slaughter sow receipts are down on the week and the year.  Sows are $1.00 lower at $30.00 to $42.00 with moderate demand for heavy offerings.  Barrows and gilt prices are steady at $37.00 to $46.00 with moderate demand for moderate offerings.

Pork values are steady at the midday – up $.32 at $76.42.  The primals are mostly higher – led by the ribs and the bellies.

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