Market News

Midday cash livestock markets

Direct cash cattle trade is quiet.  Business has been limited to the distribution of new showlists.  A light to moderate trade developed in most areas late in the day Friday.  Northern deals ranged from $183 to $187, generally $3 higher than the previous week’s weighted average basis in Nebraska.  Live business ranged from $117 to $119, mostly $119, which is about $1 higher than the previous week.  Significant trade volume will likely be delayed until the second half of the week.

Boxed beef is firm to higher at the midday with moderate demand for light to moderate offerings.  Choice is $.83 higher at $215.12 and Select is $.30 higher at $200.80.  The Choice/Select spread is $14.32.

At the open, at the Oklahoma National Stockyards, receipts are down on the week and the year.  All classes of feeder cattle and calves are too lightly tested for an accurate trend.  Long-weaned calves are trading with good demand.  Quality is average with a few attractive.  Feeder supply included 43 percent steers and 27 percent of the offering is over 600 pounds.  Medium and Large 1 feeder steers 468 to 486 pounds brought $180.50 to $182.50 and feeder steers 669 to 672 pounds brought $135 to $147.50.  Medium and Large 1 feeder heifers 465 to 493 pounds brought $133 to $145 and feeder heifers 554 to 597 pounds brought $132 to $136.50.

Cash hogs opened mixed with fairly light negotiated purchase totals.  Seasonally high slaughter runs are expected through the end of the year, meeting packers’ needs and keeping pressure on prices.  Guarded optimism continues – hoping the trade issues will resolve helping to shore up demand.  However, demand remains uncertain, tariffs haven’t been dropped, and there is an abundance of pork coming to market.

Barrows and gilts at the Western Corn Belt opened $.59 lower with a range of $45 to $47 for a weighted average of $46.45; the National Daily Direct opened $.05 higher with a range of $45 to $48.56 for a weighted average of $47.89.  The Iowa/Southern Minnesota and the Eastern Corn Belt were not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are $36 in Dorchester, Wisconsin.

At Illinois, slaughter sow receipts are down on the week and up on the year.  Prices are steady at $21 to $40 with moderate demand for moderate offerings.  Barrow and gilt prices are steady at $25 to $34 with moderate demand for moderate offerings.

Pork values are weak at midday – down $.64 at $72.99.  Ribs and hams were sharply lower. Loins were steady.  Picnics, butts, and bellies were higher.