Market News

Midday cash livestock markets

Direct cash cattle trade activity has started slow.  There are a few starter bids on the table in Nebraska at $192 dress and in Texas at $119 live.  Asking prices are holding at $125 to $126 in the South and $200 in the North.  The distance between the two could push significant trade volume until late in the day today or well into tomorrow. 

Boxed beef opened firm with moderate demand for light offerings.  Choice is $.61 higher at $214.45 and Select is $.58 higher at $207.05. 

At the Hub City Livestock Auction in South Dakota, receipts are up from the most recent sale and down slightly on the year.  Compared to Saturday – steers 600 to 900 pounds were mostly steady except steers 650 to 700 pounds which were $4 to $6 higher with instances of $10 higher.  Heifers 600 to 800 pounds were mostly steady.  The sale featured preconditioned, homeraised, weaned calves in many packages and loads.  There were many quality calves available, but all varied in flesh condition.  Demand was moderate to good with an active market.  Feeder supply included 60 percent steers and 75 percent of the offering was over 600 pounds.  Medium and large 1 feeder steers 653 to 679 pounds brought $153.50 to $167.25 and feeder steers 754 to 793 pounds brought $138.50 to $147.  Medium and Large 1 feeder heifers  604 to 648 pounds brought $143 to $156 and feeder heifers 656 to 687 pounds brought $133 to $141.50. 

Cash hogs opened mixed with fairly light negotiated purchase totals.  The supply of ready barrows and gilts is ample and packer margins have been strong.  That has buyers a little more aggressive in their procurement efforts.  While that has helped to push prices higher right now, the question remains how long it will last.  Supply and demand worries continue to create uncertainty in the market.  Barrows and gilts at the National Daily direct opened $.27 lower with a range of $47 to $51.12 for a weighted average of $50.89 and the Eastern Corn Belt opened $.87 higher with a range of $47 to $51.12 for a weighted average of $51.03.  The Iowa/Southern Minnesota and the Western Corn Belt were not reported due to confidentiality. 

Butcher hogs at the Midwest cash markets are steady at $30.  At Illinois, slaughter sow receipts are down on the week and up on the year.  Prices are $1 to $2 lower at $19 to $32 with light to moderate demand for light to moderate offerings.  Barrow and gilt prices are steady at $30 to $37 with moderate demand for moderate offerings. 

Pork values are sharply higher at midday – up $2.08 at $71.75.  Bellies, loins and butts were all higher to sharply higher.  Hams are steady.  Ribs and picnics are weak.