Market News

Midday cash livestock markets

Direct cash cattle trade is quiet and bids have yet to surface.  A few asking prices have been floated at $132 live and $210 dressed.  It’s likely significant trade volume will be delayed until the latter half of the week. 

Boxed beef is higher at midday on moderate demand for moderate offerings.  Choice is $1.73 higher at $230.06 and Select is $1.16 higher at $219.37.  The Choice/Select spread is $10.69.   

At the close at the Joplin Regional Stockyards, receipts are down on the week and up on the year.  Compared to last week steer calves under 600 pounds were steady, steers 600 to 750 pounds were steady to $3 higher, heifer calves under 600 pounds were steady to $3 higher, steers over 750 pounds and heifers over 600 pounds were steady to $3 lower.  The USDA says demand was moderate to good, supply moderate.  Feeder supply included 48 percent steers and 47 percent of the offering was over 600 pounds.  Medium and large 1 feeder steers 551 to 596 pounds brought $158 to $175 and feeder steers 600 to 642 pounds brought $152.50 to $168.  Medium and Large 1 feeder heifers 550 to 559 pounds brought $135 to $154 and feeder heifers 606 to 649 pounds brought $132 to $147. 

Cash hogs opened weak with very light negotiated purchase totals.  China is the current force behind the market.  Which is good news since the supply of ready barrows and gilts is ample.  The spread of African Swine Fever hasn’t slowed and that has the country looking elsewhere for pork.  News has surfaced recently that China’s been showing interest in the US market again has been pushing prices higher.  But, cash markets took a breath today. Barrows and gilts at the National Daily Direct are $.46 lower with a range of $52 to $57.50 for a weighted average of $55.80.  The major regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are not available.  At Illinois, slaughter sow prices are $1 higher at $28 to $44 with light to moderate demand for moderate to heavy offerings.  Receipts are up on the week and the year.  Barrow and gilt prices were $1 higher at $31 to $39 with good demand for moderate offerings. 

Pork values are higher at midday – up $1.51 at $73.90.  Hams, loins, butts, picnics, and ribs are all higher to sharply higher.  Bellies are lower.