Market News

Midday cash livestock markets

Direct cash cattle trade is quiet.  Today’s activity is limited to the evaluation of this week’s showlists.  Which are generally larger across all feeding areas with the exception of Kansas, where the offering is somewhat smaller.  Bids and asking prices have yet to be established and it looks like significant trade volume will be delayed until later in the week.

Boxed beef is steady to firm at midday on moderate demand for light offerings.  Choice is $.59 higher at $215.85 and Select is $.15 higher at $211.01.  The Choice/Select spread is $4.84. 

At the Oklahoma National Stockyards, receipts are down on the week and the year.  Compared to last week feeder steers and heifers are mostly $2 to $6 lower with the exception of 600 to 650-pound steers, which were $1 higher.  Steer calves were $6 higher and heifer calves 500 to 600 pounds were $3 to $5 lower, lighter weight heifers were $2 higher on a light test.  The USDA says demand was moderate to good, especially good on long-weaned steer calves.  Quality was plain to average with a few handfuls of long-weaned attractive calves and feeders.  Feeder supply included 60 percent steers and 52 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 579 pounds brought $158 to $173 and feeder steers 655 to 698 pounds brought $141 to $147.50.  Feeder heifers 500 to 544 pounds brought $135.50 to $144 and feeder heifers 652 to 699 pounds brought $130 to $134. 

Cash hogs opened mixed with light to moderate negotiated purchase totals.  This week saw a little bit of a slower start due to yesterday’s holiday. Some less than ideal winter weather has been pushing through much of the country – and that could but some constraints on slaughter runs to start the week.  The market continues to watch processing margins, hog weights, the African Swine Fever situation in China, and the supply and demand picture.

Barrows and gilts at the Western Corn Belt are $.06 higher with a range of $51 to $53 for a weighted average of $52.58 and the National Daily Direct is $.14 lower with a range of $50 to $53 for a weighted average of $52.20.  Prices at the Iowa/Southern Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hogs at the Midwest cash markets are steady in Dorchester, Wisconsin at $34. 

At Illinois, slaughter sow receipts are down on the week and up on the year.  Prices are $1 lower at $16 to $30 with light to moderate demand for moderate offerings.  Barrow and gilt prices are steady at $30 to $36 with moderate demand for moderate offerings.  Boars under 300 pounds are $10 to $14 and boars over 300 pounds are $6 to $8.

Pork values are firm at midday – up $.74 at $71.57.  Bellies, loins, and butts are all higher.  Picnics and hams are steady to firm.  Ribs are weak.