Market News

Midday cash livestock markets

Direct cash cattle trade is light.  There have been a few deals reported in parts of the north at $175, which is generally steady with last week’s business.  Other than a few bids at $108 live and $174 to $175 dressed, it is pretty quiet.  Asking prices are $113 to $114 live and $180 dressed.  The distance between the two could delay any significant trade volume even further.  Especially since much business isn’t expected to develop ahead of tomorrow’s Cattle on Feed report which comes out at 3 Eastern.

At the Huss Platte Valley Auction, receipts were up from the most recent auction and the year.  Compared to two weeks ago, steers over 800 pounds were steady to $4 higher and heifers over 750 pounds were steady to $2 higher.  The USDA says demand was good from the buyers in the crowd and online.  Feeder supply included 60 percent steers and 92 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 812 to 835 pounds brought $157 to $163 and feeder steers 906 to 937 pounds brought $150.75 to $156.25.  Medium and Large 1 feeder heifers 962 to 970 pounds brought $142.50 to $143.50.

Boxed beef cutout values higher on moderate demand for moderate offerings.  Choice up $.76 at $205.01 and Select up $1.29 at $195.47.  The Choice/Select spread is $9.54.

Cash hogs opened mixed with moderate negotiated purchase numbers.  Processing numbers will continue to ramp up as facilities regain access following Hurricane Florence.  Once production resumes at full capacity, look for some supply concerns to reenter the market as hog weights will likely be heavier adding more meat to a market that is saturated and faces demand uncertainties.  The industry is also watching the African Swine Fever situation in China and how it has impacted the global meat market. Barrows and gilts at the National Daily Direct opened $1.16 higher with a range of $55 to $60 for a weighted average of $57.39.  Prices at the major regional direct markets were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are steady to $3 lower at $29 to $34.  At Illinois, slaughter sow receipts are down on the week and the year. Prices are steady at $16 to $29 with light to moderate demand and offerings.  Barrow and gilt prices are $2 higher at $29 to $40.

Pork cutout values are weak at midday – down $.40 at $77.99.  The primals are mostly lower drug down by the losses in the picnics, butts, bellies, and hams.  Ribs were unchanged, and loins were higher.