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Midday cash livestock markets

Direct cash cattle markets are quiet. Wednesday’s trade was light to moderate in the South at $114 to $115 live, down $1 to $2 on the week, and moderate to active at in the North at mostly $184 to $185 dressed, about steady to $1 lower than last week’s weighted average for Nebraska. It remains to be seen how much business is left to be done, but the South could be wrapped up for the week. Asking prices for what’s left are $118+ live and $187 dressed, with bids at $114 to $116 live and $184 to $186 dressed. USDA Cattle on Feed numbers are out Friday. Weekly beef exports of 24,400 tons were up 44% on the week.

Boxed beef Wednesday was mixed, with Choice up $.17 and Select down $.77.

At Hub City Livestock Auction feeder cattle sale in South Dakota, the best test was for steers weighed 800 to 950 pounds, steady to $2 higher, with instances of as much as $6 higher on 850 to 900 pound steers. The best test for heifers was on the 800 to 850 category, which were mostly steady. The USDA says demand was moderate to good for packages and good for loads and strings. 57% of the run were steers and 88% of the offering weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 800 to 900 pounds ranged from $129.50 to $143.60 and 900 to 1,000-pound steers brought $122.75 to $135.20. Medium and Large 1 feeder heifers weighing 600 to 700 pounds sold at $131 to $142.75 and 800 to 820-pound heifers were reported at $122.50 to $128.30.

Cash hogs are higher with heavy opening negotiated numbers for the major direct markets. Buyers are trying to move the needed numbers, even as concerns about margins and questions about demand linger. China bought 31,400 tons of U.S. pork last week, with Mexico, Japan, and Canada also making purchases. Negotiations with China have reportedly stalled, but recent developments on the USMCA are seen as positive for demand. The USDA’s monthly livestock slaughter numbers are out at 3 Eastern/2 Central.

Pork at Wednesday was down $2.24, with big losses in ribs and bellies.

Iowa/Southern Minnesota direct barrows and gilts opened $1.75 higher at $78 to $83 with a weighted average of $81.26, the Western Corn Belt is up $1.89 at $72 to $83 for an average of $81.19, and national direct business is $1.11 higher at $72 to $83 with an average of $80.33. Midwest butcher hog markets are closed for the rest of the week. Illinois direct sows are $1 to $3 lower at $38 to $58. Boars range from $10 to $30.

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