Market News

Midday cash livestock markets

Direct cash cattle trade is quiet.  Bids and asking prices have yet to be established.  Showlists are mixed – larger in Texas, but smaller in Kansas, Oklahoma, and Colorado.  It looks like significant trade volume will be delayed until the second half of the week. 

Boxed beef opened steady on moderate demand for moderate to heavy offerings.  Choice is $.01 lower at $214.27 and Select is $.11 lower at $208.10. 

At the Ft. Pierre Livestock Auction in South Dakota last Friday, receipts were almost steady on the year.  The demand was good to very good for the offering that had many long strings, load lots, and packages of steers and heifers.  Most of the cattle were long-time weaned and home raised.  Cattle were moderate to moderate plus flesh and the prices reflected it.  The market was active to fairly active.  Feeder supply included 70 percent steers and 78 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 607 to 640 pounds brought $164 to $183 and feeder steers 720 to 744 pounds brought $158 to $170.50.  Medium and Large 1 feeder heifers 555 to 571 pounds brought $150 to $165 and feeder heifers 637 to 648 pounds brought $150.50 to $154.

Cash hogs opened firm to higher with light negotiated purchase totals.  Packer margins have been solid and their buying has been aggressive.  That’s helped to firm up cash prices despite the ample supply of ready barrows and gilts.  The market continues to monitor the African Swine Fever situation in China, should there be a disruption to the global pork supply, it could provide support to pork prices.  However, the ongoing demand concerns create uncertainty in the market and prevent any long-term market shifts higher.  Barrows and gilts at the Western Corn Belt opened $.71 higher with a range of $47.50 to $51 for a weighted average of $50.55 and the National Daily Direct opened $.45 higher with a range of $47.50 to $51 for a weighted average of $49.47.  Prices at the Iowa/Southern Minnesota and the Eastern Corn Belt were not reported due to confidentiality.   

Butcher hog prices at the Midwest cash markets are unavailable at midday. At Illinois, slaughter sow receipts are up on the year.  Prices are mostly $2 lower at $19 to $32 with moderate demand for moderate offerings.  Barrow and gilt prices are $3 higher at $29 to $36 with moderate demand for moderate offerings. 

Pork values are steady at midday up $.25 at $70.81.  The loins are higher.  Bellies, hams, ribs, and butts are all steady to firm.  Picnics are lower.