Market News

Midday cash livestock markets

Direct cash cattle trade is still quiet.  Bids and asking prices have yet to develop and may not do so until after tomorrow’s Fed Cattle Exchange.  This week’s showlists appear to be mixed – lower in Texas, Kansas, and Nebraska – but somewhat higher in Colorado.  Significant trade volume is expected to be delayed until the latter half of the week. 

Boxed beef is higher at the midday on good demand for moderate offerings.  Choice is $1.48 higher at $228.84 and Select is $1.55 higher at $221.18.  The Choice/Select spread is $7.66. 

At the close, at the Oklahoma National Stockyards, receipts are up significantly on the week and the year.  Compared to two weeks ago feeder steers and heifers were mostly steady to $4 lower, but compared to last week’s light test feeder steers were mostly $1 to $3 higher and feeder heifers steady to $4 lower.  Steer and heifer calves were $2 to $7 lower compared to both weeks.  The USDA says demand was moderate and quality was average to attractive.  Several of the feeders are just off winter pasture.  Feeder supply included 63 percent steers and 69 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 649 pounds brought $153 to $163 and feeder steers 651 to 699 pounds brought $143 to $157.50.  Medium and Large 1 feeder heifers 701 to 747 pound brought $126.50 to $137 and feeder heifers 750 to 799 pounds brought $125 to $131.50. 

Cash hogs opened higher with light to moderate negotiated purchase totals.  African Swine Fever continues to spread throughout Asia.  More cases have been identified in China and two more in Vietnam.  As a result, China’s hog prices have been on the rise and the country may soon need to turn to other countries to import pork.  Wholesale values continue their big swings.  Meanwhile, supplies of ready barrows and gilts are ample and there’s hope the news about China will shore up some demand.  Barrows and gilts at the Western Corn Belt opened $1.31 higher with a range of $44 to $50 for a weighted average of $49.73; the National Daily Direct opened $1.19 higher with a range of $42 to $50 for an average of $48.38.  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 at $36. 

At Illinois, slaughter sow prices are weak at $30 to $50 with moderate demand for moderate to heavy offerings.  Receipts are down on the week and up on the year.  Barrow and gilt prices are $1 higher at $26 to $32 with light demand for moderate offerings. 

Pork values opened sharply higher – up $2.57 at $68.99.  Bellies and hams are sharply higher – including a $7.25 jump in the bellies.  Loins are higher.  Buts are firm.  Picnics and ribs are steady.