Market News

Midday cash livestock markets

Direct cash cattle trade has picked up a little at midday.  The bids on the table are scattered, but increasing.  Business could have been holding out for the release of today’s Cattle on Feed report, which was generally neutral as most figures came in near expectations.  Asking prices are around $115 to $116 live and $177 to $180 dressed.  Bids have been reported at $108 to $110 live and $175 dressed.

At the Mitchell Livestock Auction in South Dakota, feeder steers and heifers over 800 pounds are steady to $3.00 higher.  The USDA says demand is moderate with quality average to attractive.  Flesh condition is mostly moderate to moderate plus.  Buyer attendance was lighter than usual.  Feeder supply included 45 percent steers and 99 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 858 to 884 pounds to $129.00 to $132.75 and feeder steers 915 to 931 pounds were $122.75 to $132.50.  Medium and Large 1 feeder heifers 801 to 849 pounds were $122.00 to $130.00 and feeder heifers 900 to 947 pounds were $111.25 to $114.25.

Boxed beef is lower at the midday on light box movement.  Choice down $1.59 at $227.41 and Select is $.04 lower at $204.89.  The Choice/Select spread is $22.52.

Cash hogs are steady.  The major direct markets are not reported due to confidentiality.  Buyers continue to watch the availability of market-ready numbers.  The long holiday weekend will lighten slaughter runs for a few days.  The shorter runs and increased demand from the long-weekend could be supportive to prices next week.  Supply and Demand concerns still loom as the trade negotiations with China and on the NAFTA deal continue.

Midwest cash markets are closed today.  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.  For the week barrows and gilts are steady to $2.00 higher and sows are steady to $2.00 lower.

Pork cutout values are higher at the midday – up $.78 at $74.89.  The primals are mostly lower, however, the ribs are up more than $8.00 and hams up about $3.00 at midday.