Market News

Midday cash livestock markets

Direct cash cattle trade has been limited today after yesterday’s moderate to active trade in the North.  Dressed deals ranged from $174 to $179 – generally $2 to $3 lower than last week’s weighted average basis in Nebraska.  Live business ranged from $109 to $112.50, about $3 lower than Nebraska’s weighted average last week.  Kansas and Texas remain in a faceoff with no activity.  Asking prices are sitting around $115 plus.

At the Douglas County Livestock Auction in Missouri, receipts are down on the week but up on the year.  Compared to last week steers and heifers are steady.  The USDA says demand and supply were moderate.  Feeder supply included 37 percent steers and 19 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500-560 pounds brought $158.00 to $172.00 and feeder steers 600 to 700 pounds brought $152.00 to $160.00.  Medium and Large 1 feeder heifers 400 to 500 pounds brought $140.00 to $150.00 and feeder heifers 500 to 575 pounds, fleshy, brought $132.50 to $142.

Boxed beef cutout values opened firm on light demand for light offerings.  Choice up $.24 at $206.30 and Select up $.28 at $198.37.  The Choice/Select spread is $7.93.

Cash hogs opened weak to lower. It’s been a brutal week for cash markets – and that’s expected to continue.  Packer margins have improved some which is likely the reason behind tomorrow’s large estimated kill.  The hog supply is plentiful, and the demand picture remains uncertain – creating an extremely bearish market.  Barrows and gilts at the Western Corn Belt opened $.81 lower with a range of $44 to $45.50 for a weighted average of $45.20; the National Daily Direct opened $1.05 lower with a range of $44 to $46 for a weighted average of $44.88.  Prices at the Eastern Corn Belt and the Iowa/Southern Minnesota were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are closed today.  At Illinois, slaughter sow receipts are down on the week and up on the year.  Prices are firm at $19 to $31 with light to moderate demand for heavy offerings.  Barrows and gilts are $1 lower at $21 to $35 with light to moderate demand for moderate offerings.

Pork cutout values are weak – down $.38 at $71.07.  The primals are mostly lower with the butts, loins, ribs, and picnics lower while the bellies are weak and hams are higher.