Market News

Midday cash livestock markets

Direct cash cattle trade is quiet this morning.  Bids and asking prices have yet to be established.  A light to moderate trade developed at the end of the week with live deals at $128, about $1 higher than the previous week.  Dressed deals were at mostly $208, $4 higher than the previous week’s weighted average basis in Nebraska. Significant trade this week will likely be delayed until sometime Thursday or Friday.

Boxed beef opened mixed on light demand for light offerings.  Choice is $.27 lower at $228.82 and Select is $.69 higher at $219.33.  The Choice/Select spread is $9.49. 

At South Dakota last week, receipts are up significantly on the week and the year.  Compared to last week’s sales – feeder steers were $5 to $10 higher with instances of $12 to $15 higher.  Feeder heifers were $3 to $6 higher.  The USDA says demand was very good for all weights and classes of cattle.  The week’s offering was large across the state as weather had delayed recent sales.  Feed yard conditions aren’t ideal, which had many producers worried that feeders will delay purchases – but that wasn’t the case.  Medium and Large 1 feeder steers 700 to 748 pounds brought $140 to $159.50 and feeder steers 800 to 848 pounds brought $137 to $150.25.  Medium and Large 1 feeder heifers 700 to 747 pounds brought $129 to $142 and feeder heifers 750 to 797 brought $122 to $140.50. 

Cash hogs opened steady with light to moderate negotiated purchase totals.  We’ve seen slower starts in the morning, but a more aggressive business has developed in the afternoon. China’s has been the big driver behind the surge in the cash markets.  African Swine Fever hasn’t been controlled and the continued spread of the disease has China looking elsewhere on the global market for pork – including the US.  Trade negotiations with China are set to resume this week.  The industry is hopeful for more progress coming out of this week’s talks.  Supplies of ready barrows and gilts remain ample and slaughter runs continue to hit record or near record numbers almost daily.  Barrows and gilts at the National Daily Direct opened $.04 lower with a range of $60 to $69 for a weighted average of $66.23.  Prices at the major regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are at $45 and $46.  At Illinois, slaughter sow prices are steady at $28 to $43 with light to moderate demand for light offerings.  Barrow and gilt prices are $1 higher at $38 to $46 with good demand for moderate offerings. 

Pork values are higher – up $1.21 at $79.  Bellies, butts, and hams are all higher.  Loins are firm.  Picnics are steady and ribs are weak.