Market News

Wednesday midday cash livestock markets

 

At midday on Wednesday, direct cattle markets are still fairly quiet. Packers are short bought, but widespread trade could still wait until Thursday or Friday. This week’s showlist is mixed, larger in Texas, but smaller in Colorado, Kansas, and Nebraska. Asking prices are around $163 to $164 in the South and $258 to $260 in the North. There are a few bids on the live basis at $156 to $157 in Kansas and $158 in Iowa.

Loup City Commission Company had its first reported sale in recent weeks with demand called moderate to good. Receipts were pegged at 1,410 head. Feeder steers weighing about 650 pounds sold at $248.75 to $256.25. Feeder heifers at 709 pounds brought $211.50. Feeder Holstein steers with an average of 885 pounds ranged from $174 to $180.10. Feeder bulls weighing 488 pounds sold at $302.

Boxed beef at midday was mixed on light to moderate movement. Choice was down $.31 at $260.76 and Select was up $.90 at $250.10.

Cash hog trade is steady to lower. Market ready numbers are a little tighter, but processing margins aren’t great and the wholesale pork market hasn’t been consistent this week. For the week ending May 23rd, the average Iowa/Southern Minnesota hog weight was 280.4 pounds. That’s down four tenths of a pound on the week and 6.3 pounds on the year.

National Direct barrows and gilts opened $1.01 lower at $69 to $79 with a weighted average of $76.12, the Western Cornbelt is down $1.37 at $69 to $79 for an average of $77.43, and Iowa/Southern Minnesota is $1.79 lower at $69 to $79, also with a weighted average of $77.43. The Eastern Cornbelt was not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady to $1 lower at $53 to $58. The Missouri Direct base carcass meat price was steady at $72 to $74 with supply and demand both called light to moderate. Missouri sows are steady to $1 higher at $20 to $30. Illinois Direct sows are steady at $22 to $35 on moderate demand for moderate offerings. Illinois Direct barrows and gilts are steady at $51 to $57, also on moderate demand for moderate offerings.

The pork cutout at midday was down $.69 at $85.98. Loins were sharply lower, all other primals were firm.