Market News

Midday cash livestock markets

Direct cash cattle trade is quiet.  Bids are scarce with just a few renewed in Nebraska at $197 dressed.  Asking prices have been reported at $128 live and at $203 dressed.  Packer inquiry should improve throughout the day.  But it is very likely significant trade volume will be delayed until the end of the week. 

Boxed beef is firm to higher on moderate demand for moderate offerings.  Choice is $.61 higher at $212.54 and Select is $1 higher at $207.94. 

At the Hub City Livestock Auction in South Dakota, receipts are down on the week and the year.  Compared to the last sale steers 600 to 850 pounds were steady with steers 650 to 700 pounds steady to $3 lower with instances of $3 higher on 700 to 750 pounds.  Heifers 550 to 750 pounds were mostly steady.  The USDA says demand was good for the calf offering which featured more packages and less loads than last week.  The best demand was for calves suitable for grass.  Quality was above average with many attractive packages to choose from and the majority were home raised, preconditioned, and long-time weaned.  The market was active.  Feeder supply included 62 percent steers and 80 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 699 pounds brought $142.75 to $161.50 and feeder steers 702 to 749 pounds brought $145 to $158.  Medium and Large 1 feeder heifers 605 to 646 pounds brought $141.50 to $152.50 and feeder heifers 701 to 744 pounds brought $132.50 to $139.25. 

Cash hogs opened steady with extremely light negotiated purchase totals.  Prices at the major regional direct markets were not reported at midday due to confidentiality.  The supply of ready barrows and gilts is ample, and packers have been aggressively making purchases this week.  Weather will likely continue to play a role in the markets, especially if this winter storm develops as projected.  Buyers have been busy, but the overall demand picture still remains unclear and that adds uncertainty to the market.

Butcher hog prices at the Midwest cash markets are unavailable today. 

At Illinois, slaughter sow receipts are down on the week and up on the year.  Prices are steady at $16 to $31 with light to moderate demand for moderate offerings.  Barrow and gilt prices are steady at $30 to $36 with moderate demand for moderate offerings. 

Pork values are firm at midday – up $.90 at $70.54.  Picnics, bellies, hams are all higher. Loins are steady.  Butts and ribs are lower.