Market News

Midday cash livestock markets

A light to moderate direct cash cattle trade has been reported in parts of Nebraska.  Live deals are at $127 and dressed business at $205.  Both are about $3 lower than the previous week’s weighted average basis.  Bids are at $125 live and $203 dressed in other areas.  Asking prices are sitting at $128 to $132 live and $211 to $212 dressed.  A light to moderate trade was reported in the South yesterday with live deals at $126 to $127, steady to $1 higher than the previous week’s averages. 

Boxed beef is steady to firm at midday on moderate demand for heavy offerings.  Choice is $.63 higher at $233.59 and Select is $.21 higher at $220.40.  The Choice/Select spread is $13.10. 

At the Hub City Livestock Auction in South Dakota, receipts are up on the week and down slightly on the year.  Compared to the most recent sale, the best comparison came on steers 700 to 750 pounds and 800 to 850 pounds and they were $4 to $6 higher.  The best test on heifers were on 650 to 800 pounds and they were $3 to $5 higher.  Demand was good to very good for the large offering of packages, loads and strings of home-raised and backgrounded cattle, and a few packages of weaned fall-calves.  The USDA says demand for grass-type cattle remains strong.  Quality was average to attractive, and flesh condition varied from light to heavy.   Feeder supply included 81 percent steers and 91 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 655 to 693 pounds brought $160 to $175 and feeder steers 755 to 797 pounds brought $150.50 to $160.  Medium and Large 1 feeder heifers 600 to 649 pounds brought $148 to $156.50 and feeder heifers 701 to 748 pounds brought $140 to $147.50. 

Cash hogs opened weak with moderate negotiated purchase totals.  The supply of ready barrows and gilts is ample.  Slaughter runs continue at their record large pace.  Packers have been able to move their needed numbers.  But the market remains optimistic that demand will increase and drag prices higher as China continues to struggle with African Swine Fever and is having to look other places to meet their pork and poultry needs.

Barrows and gilts at the National Daily Direct opened $.51 lower with a range of $73 to $82.50 for a weighted average of $80.23.  Prices and the regional direct markets were not reported at midday due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $55.

At Illinois, slaughter sow prices are $5 higher at $49 to $65 with very good demand for light to moderate offerings.  Receipts are down on the week and the year.  Barrow and gilt prices are firm at $51 to $60 with good demand for moderate offerings. 

Pork values opened sharply higher up $3.51 at $90.49.  Bellies jumped $14.47 to start the day while picnics were $10.18 higher at midday.  Butts and loins were sharply higher.  Ribs were steady.  Hams were sharply lower.