Market News

Midday cash livestock markets

Direct cash cattle trade is dead quiet at midday.  Bids and asking prices are not established just yet.  Showlists are mixed – with some steady and others slightly less than last week.  Look for significant trade volume to be delayed until sometime Thursday or Friday.

At the Kingdom City livestock auction in Missouri, receipts are down on the week and the year.  Compared to last week, lightweight steer calves were steady with a weak undertone, steer calves 500 to 650 pounds were $5 to $10 lower.  Feeder heifers 450 to 600 pounds were $2 to $5 lower and all other weight classes were not well tested.  The USDA says demand was light to moderate on calves.  Feeder supply included 53 percent steers and 38 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 450 to 500 pounds brought $166 to $175 and feeder steers 500 to 600 pounds brought $149.50 to $159.  Medium and Large 1 feeder heifers 450 to 500 pounds brought $147.50 to $148 and feeder heifers 550 to 600 pounds brought $134.50 to $145.

Boxed beef cutout values are mixed at midday on light demand for light offerings.  Choice is $.19 lower at $215.36 and Select is $1.02 higher at $201.41.  The Choice/Select spread is at $13.95.

Cash hogs opened lower with light negotiated purchase totals.  Ample supplies of ready barrows and gilts is giving packers the upper hand when it comes to setting prices. The industry continues to watch the African Swine Fever situation in China. It’s worth noting it was announced yesterday that China has discovered ASF in some feed supplies but today has denied that claim.  The cash market continues to move forward with guarded optimism.   Barrows and gilts at the National Daily Direct opened $.75 lower with a range of $47 to $52.44 for a weighted average of $52.19.  Prices at the major regional direct markets were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are steady at $34 and $36.  At Illinois, slaughter sow receipts are down on the week and up on the year.  Prices are steady at $30 to #44 with moderate demand for moderate offerings.  Barrow and gilt prices are $1 lower at $28 to $38 with moderate demand for moderate offerings.

Pork cutout values opened $.85 higher at $71.68.  The picnics, loins, and bellies all opened higher.  Hams, butts, and ribs were lower.