Market News

Midday cash livestock markets

Direct cash cattle trade is off to a slow start.  Bids have finally started to surface at $204 dressed in parts of Nebraska.  Asking prices are still holding at $130 to $132 live and $210 dressed.  There could be a small amount of business develop today – but it’s more likely business will hold off until after tomorrow’s Cattle on Feed report. 

Boxed beef is steady to firm at midday – on moderate demand and offerings.  Choice is $.18 higher at $228.85 and Select is $.54 higher at $219.17.  The Choice/Select spread is $9.68. 

At the Hub City Livestock Auction in South Dakota, receipts are up on the week and the year.  Compared to last week, steers 600 to 1000 pounds were $3 to $6 higher with the exception of steers 800 to 899 pounds, which were $7 to $10 higher.  Most weight classes of heifers were lightly tested last week, but the best comparison came on heifers 700 to 750 pounds and 800 to 850 pounds which were $2 to $4 higher.  The USDA says demand was good to very good for the large offering of many packages, loads, and several strings of both home-raised and backgrounded cattle.  The market was active with activity improved throughout the sale.  Quality was mostly attractive again and flesh varied.  Many producers are still digging out from the recent weather.  Feeder supply included 54 percent steers and 93 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 800 to 848 pounds brought $140.25 to $148.25 and feeder steers 854 to 899 pounds brought $133 to $145.25.  Medium and Large 1 feeder heifers 802 to 843 pounds brought $124.75 to $129.25 and feeder heifers 855 to 898 brought $124.25 to $129.20. 

Cash hogs opened firm with light to moderate negotiated purchase totals. The spread of African Swine Fever hasn’t slowed throughout Asia and that has China looking elsewhere for pork on the global market — including the US.  That is good news considering the supply of ready barrows and gilts remains ample.  And is helping to keep prices supported. 

Barrows and gilts at the Western Corn Belt opened $.30 higher with a range of $55 to $65 for a weighted average of $62.07 and the National Daily Direct opened $.64 higher with a range of $55 to $65 for a weighted average of $61.09.  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 $40. 

At Illinois, slaughter sow prices are steady at $28 to $43 with light to moderate demand for light offerings.  Receipts are up on the week and down on the year.  Barrow and gilt prices are steady at $35 to $42 with good demand for moderate offerings. 

Pork values are sharply higher at midday – up $2.33 at $76.38.  Loins, bellies, butts, and hams were all higher to sharply higher.  Picnics are steady.  Ribs are weak.