Market News

Midday cash livestock markets

Direct cash cattle trade has improved and we’re seeing a few more bids on the table at $108 live and $173 to $175 dressed.  While there is increased activity, it’s still quiet.  And it seems the majority of business is holding out for this afternoon’s Cattle on Feed report.  Asking prices are still firm at $113 to $114 live and $178 dressed.

At the Douglas County Livestock Auction in Missouri, receipts are up on the week and down on the year.  Compared to last week steer and heifer calves were steady to $5 higher and yearlings were not well tested.  The USDA says demand was moderate to good and supply was moderate.  Feeder supply included 50 percent steers and 10 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 600 pounds were $160 to $179 and feeder steers 695 pounds brought $152.50.  Medium and Large 1 feeder heifers 500 to 600 pounds brought $151 to $156 and feeder heifers 600 to 700 pounds were $143 to $149.

Boxed beef cutout values are mixed at midday with light demand for moderate offerings.  Choice is $.46 higher at $204.98 and Select is $.20 lower at $194.71.  The Choice/Select spread is $10.27.

Cash hogs opened lower with fairly light negotiated purchase numbers.  Buyers took a step back to start the day.  Processing has continued to ramp up toward full capacity, likely causing supply concerns as hog weights will be heavier adding more meat to the market that has already been facing demand concerns and uncertainties.  Barrows and gilts at the Iowa/Southern Minnesota opened $1.03 lower with a range of $56 to $59 for a weighted average of $58.17; the Western Corn Belt opened $1.17 lower with a range of $56 to $59 for a weighted average of $57.98; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct opened $.49 lower with a range of $56 to $59 for a weighted average of $57.88.

The Midwest cash markets are closed today. At Illinois, slaughter sow receipts are up on the week and the year.  Prices were steady at $16 to $29 with light to moderate demand for moderate offerings.  Barrows and gilts were $2 higher at $29 to $42 with moderate demand for moderate offerings.

Pork cutout values are weak at midday – down $.21 at $78.74.  The primals are mixed.  Loins are more than $2 lower, butts and ribs are weak.  Picnics are higher and bellies and hams are firm.