Market News

Midday cash livestock markets

Direct cash cattle markets are at a standstill. Today’s big features will be a full assessment of last week’s late developing direct business and the distribution of this week’s showlist. The early trade volume totals from last week looked low, so this week’s showlist could be larger and packers might be short bought. Live sales were mostly at $110 to $111 with dressed business mainly at $173 to $175, all down on the week. The USDA’s Cattle on Feed and Inventory numbers are out Friday afternoon.

Boxed beef at midday was mixed with light movement. Choice was down $.30 at $203.84 and Select was up $.77 at $197.14.

At Farmers and Ranchers Livestock Commission feeder cattle sale in Salina, Kansas Friday, it was the first sale after the harvest break and most of the cattle were coming off pasture. The USDA says demand was good and trade was active, with 62% of the feeder offering steers and 83% of the run weighing more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds were reported at $152 to $163.50 and 800 to 900-pound steers sold at $145 to $155. Medium and Large 1 feeder heifers weighing 600 to 700 pounds brought $143 to $148.50 and 700 to 800-pound heifers ranged from $136.85 to $144.75.

Cash hogs are steady to lower with light opening negotiated numbers for the major direct hog markets. Buyers have started the week with mostly lower bids, watching chain speed and the availability of market ready numbers, which may have seen the seasonal bottom. Even with that recent seasonal tightening, slaughter levels remained larger than a year ago putting a lot of pork on the market at a time when the industry is facing some serious demand uncertainties because of tariffs.

Pork at midday was down $.08 at $83.74. Loins lost $1.93 and bellies were $1.03 lower. Butts, picnics, ribs, and hams were firm to sharply higher.

The opening major direct hog markets were not reported due to confidentiality. Friday, the USDA says national direct barrows and gilts were $.79 lower at $67 to $76 for a weighted average of $74.26, Iowa/Southern Minnesota was $.26 higher at $67 to $76 with an average of $73.79, and the Western Cornbelt was up $.39 at $67 to $76 for an average of $73.60. Butcher hogs at the Midwest cash markets are steady to $2 lower at $48 to $50. Illinois direct sows are steady at $27 to $38 on light to moderate demand for moderate offerings. Barrows and gilts are $2 lower at $44 to $52 on moderate demand and offerings. Boars range from $8 to $32.