Market News
Midday cash livestock markets
Direct cash cattle trade is quiet this morning, initial bids and asking prices have surfaced. Ready steers and heifers are priced around $115 to $116 live and $182 to $185 dressed. A few scattered bids have been reported at $108 live and $175 dressed. It looks like significant trade volume will likely be delayed until later in the week. The Fed Cattle exchange was a non-starter this morning. Just 225 head offered, and 0 head sold. This is the third consecutive week of no-sales.
At the Ozark Regional Stockyards in Missouri, receipts were up on the week. Compared to the previous week’s auction, steer and heifer calves were steady to $5.00 higher and yearlings were steady to firm. The USDA says demand was good on a heavy supply. Cash prices yesterday responded to the sharp gain in futures contracts on Monday. Feeder supply included 53 percent steers and 31 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 500 to 600 pounds were $162.00 to $177.00 and feeder steers 700 to 800 pounds were $138.00 to $150.00. Medium and Large 1 feeder heifers 500 to 600 pounds were $140.00 to $155.00 and feeder heifers 600 to 700 pounds were $130.00 to $141.00.
Boxed beef is mixed at the midday on light boxed movement. Choice up $.97 at $230.32 and Select is $.66 lower at $205.20. The Choice/Select spread is $25.12.
Cash hogs were called steady this morning. Prices at the major direct markets were not reported due to confidentiality. There is a lot of concern about supply and demand issues and it’s pressuring prices. However, should the seasonal slow-down in slaughter numbers head into full swing, it could be supportive of prices. Saturday’s estimated kill is still small – at 30,000 head.
Butcher hogs at the Midwest cash markets are steady at $40.00. The markets in Dorchester, Wisconsin and Garnavillo Iowa are closed this week. At the Interior Missouri Direct, receipts were up on the week. Barrows and gilts are steady at $54.00 to $58.00 with light to moderate supply and demand. Sows are steady at $28.00 to $41.00. At Illinois, slaughter sows are $2.00 lower at $28.00 to $40.00 with moderate demand for heavy 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 $1.62 at $74.52. The primals were mostly lower with the nearly $5.00 drop in the loin leading the way.
lamb price?