Market News

Midday cash livestock markets

Direct cash cattle trade has been slow to start, but there have been a few scattered bids reported.  Asking prices are at $115 to $116 live and $182 to $185 dressed.  Bids are well below those levels at $108 live and $175 dressed.  Packer inquiry is expected to improve as the day progresses.  But it is highly likely significant trade volume could be delayed until sometime tomorrow.

At the Hub City Livestock Auction in South Dakota, the best test on steers was steady to $1.00 higher with other classes not well compared.  Feeder heifers were mostly $3.00 to $6.00 higher with instances of $10.00 higher.  Receipts were down on the week and the year.  The USDA says it was a moderate to active market and demand was good for the day’s offering.  Quality was mostly average to attractive.  Feeder supply included 44 percent steers and 94 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 609 to 635 pounds were $164.50 to $169.50 and feeder steers 923 to 948 pounds were $125.75 to $131.00.  Medium and Large 1 feeder heifers 700 to 745 pounds were $128.00 to $137.75 and feeder heifers 751 to 799 pounds were $128.75 to $136.75.

Boxed beef is mixed at the midday – on light box movement.  Choice down $1.07 at $229.01 and Select is up $.14 at $205.18.  The Choice/Select spread is $23.83.

Cash hogs are steady at the midday.  There’s been limited interest in cash hogs as pork values have started to slide.  There’s still a concern about supply and demand issues which is limiting markets.  However, should the kill totals continue to decline it would provide some price support.  Saturday’s early kill estimate is just 30,000 head.

Barrows and gilts at the Iowa/Southern Minnesota are $.08 higher with a range of $62.00 to $65.25 and a weighted average of $64.67; the Western Corn Belt opened $.16 higher with a range of $62.00 to $65.25 and a weighted average of $64.67; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.27 higher with a range of $62.00 to $65.25 and a weighted average of $65.06.

Butcher hogs at the Midwest cash markets are steady at $40.00 at the Zumbrota, Minnesota market.  The markets in Dorchester, Wisconsin and Garnavillo, Iowa are closed this week.   At the Interior Missouri Direct, 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 steady 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 $.85 at $73.96.  The primals are mostly higher, however, the ribs opened sharply lower – down $23.31 at $123.65.