Market News

Midday cash livestock markets

Direct cash cattle trade is pretty quiet this morning.  There are some bids being floated at $127 live and $204 dressed in parts of the North following yesterday’s moderate trade in the South where we saw deals at $126 – about $2 higher than the previous week’s weighted averages.  We could see some cleanup trade today – but it’s quite possible business is essentially completed for the week.  Asking prices are at $128 to $130 live and $208-plus dressed. 

Boxed beef is mixed at midday on light demand for moderate offerings.  Choice is $.45 higher at $233.21 and Select is $.65 lower at $219.51.  The Choice/Select spread is $13.70. 

At the Hub City Livestock Auction in South Dakota – receipts are up on the week and the year.  Compared to the last sale – the best test was on steers 850 to 950 pounds which were $3 to $4 higher with other weights of steers and heifers not well compared.  The USDA says demand was good for the offering of many packages and loads of mostly home-raised steers and heifers.  There were several loads and packages of replacement heifers on offer and were met with very good demand.  Quality was mostly average to attractive.  Feeder supply included 47 percent steers and 98 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 804 to 839 pounds brought $141.50 to $151.25 and feeder steers 900 to 935 pounds brought $135 to $142.75.  Medium and Large 1 feeder heifers 767 to 787 pounds brought $133.50 to $140.25 and feeder heifers 902 to 943 pounds brought $124.50 to $127.40. 

Cash hogs opened lower to sharply lower with light negotiated purchased totals.  The market continues its ups and downs.  The supply of ready barrows and gilts is ample – and slaughter runs have been large.  Packers haven’t had to work hard to move numbers and prices are pressured.  The market continues to monitor the African Swine Fever situation in China.  The disease continues to spread, and the market remains hopeful demand for US pork will increase as a result.  But exports to China have been less than stellar.   Barrows and gilts at the Iowa/Southern Minnesota opened $2.09 lower with a range of $75 to $77.47 for a weighted average of $76.37; the Western Corn Belt opened $2.15 lower with a range of $71 to $77.47 for a weighted average of $75.40; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is $.79 lower with a range of $71 to $77.47 for a weighted average of $76.22. 

The Midwest cash markets are closed both today and tomorrow. 

At Illinois, slaughter sow prices are $1 to $4 higher at $40 to $57 with very good demand for moderate to heavy offerings.  Barrow and gilt prices are firm at $48 to $56 with moderate demand for moderate offerings.  Pork values are steady at midday – down $.01 at $86.99.  Bellies, loins, and hams are all weak.  Butts are steady.  Picnics and ribs are higher. 

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