Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. It’s been a quiet week, with the bulk of business waiting until Friday. Asking prices are $127 to $130 on the live basis and $200 to $203 dressed, with bids at $122 to $123 live and $195 dressed. Both sides will be monitoring weather in the major feeding areas and wholesale business. The industry is also waiting to see what happens with the shutdown and if market moving reports will be delayed.

Boxed beef at midday was firm to sharply higher with light movement. Choice was up $.37 at $212.87 and Select gained $1.95 to $209.59.

At the Mitchell Livestock Auction in South Dakota Thursday, feeder steers and heifers were steady to $2 lower. The USDA says demand was mostly moderate for a large high-quality offering with light to moderate plus flesh. Receipts were up on the week, down on the year. 56% of the run were steers and 86% of the offering weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 700 to 800 pounds were reported at $141.75 to $154.50 and 800 to 900-pound steers sold at $133.50 to $145.50. Medium and Large 1 feeder heifers weighing 600 to 700 pounds ranged from $136.50 to $147 and 700 to 800-pound heifers brought $130 to $137.50.

Cash hogs are firm with light to moderate opening negotiated numbers at the major direct markets. Buyers are working to move the needed numbers ahead of another weekend storm, which is expected to disrupt business Saturday, at least in some areas. Next week will probably get off to a slow start because of the Dr. Martin Luther King Jr. holiday. Both sides are also watching margins and wholesale business, with ample market ready supplies and more pork hitting the market.

Pork at midday was down $.51 at $69.59. Butts, picnics, ribs, and hams were weak to sharply lower, while bellies were firm and loins were higher.

National direct barrows and gilts opened $.23 higher at $46 to $53 for a weighted average of $51.63. The major regional direct markets were not reported due to confidentiality. The butcher hog markets in Dorchester, Wisconsin and Garnavillo, Iowa are closed. Illinois direct sows are steady at $16 to $31 on light to moderate demand for moderate offerings. Barrows and gilts are steady at $30 to $36 with moderate demand and offerings. Boars range from $6 to $14.