Market News

Midday cash livestock markets

Direct cash cattle trade is off to a fairly quiet start to the day.  There are a few scattered token bids that have surfaced at $107 live and $174 to $17 5 dressed.  Asking prices have yet to develop.  It’s likely significant trade volume will be delayed until the second half of the week. 

Boxed beef opened weak on light demand for moderate offerings.  Choice is $.36 lower at $219.38 and Select is $.52 lower at $199.29.  The Choice/Select spread is $20.09. 

At the close at the Joplin Regional Stockyards, receipts were up on the week and the year.  Compared to last week’s sale steer calves were unevenly steady, yearling steers under 750 pounds were steady to $2 higher, over 750 pounds were $2 to $7 higher.  Heifer calves under 500 pounds were steady, heifers 500 to 700 pounds were steady to $4 lower, yearling heifers over 700 pounds were steady to $3 higher.  There was limited comparisons on yearlings.  The USDA says demand was moderate to good with a heavy supply.  There were several strings of true yearlings on offer.  Feeder supply included 55 percent steers and 76 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 705 to 748 pounds brought $135 to $145 and feeder steers 851 to 897 pounds brought $123 to $136.  Medium and Large 1 feeder heifers 707 to 746 pounds brought $117 to $131 pounds and feeder heifers 755 to 795 pounds brought $118 to $128.75. 

Cash hogs opened lower with light to moderate negotiated purchase totals.  Supply and demand continue to be the focus of the market and pressure is expected to continue to develop in cash hog trade. The supply of market-ready hogs is ample, but the demand picture is uncertain adding more volatility to prices. China’s struggle with African Swine Fever is ongoing, but the global market has yet to see the significant surge in demand it has been expecting.  And – all eyes are on the G20 this week and the US and China are scheduled to resume trade talks at some point. Barrows and gilts at the National Daily Direct opened $1.59 lower with a base range of $63 to $75 for a weighted average of $71.92.  Prices at the major direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are Steady at $53 and $54. 

At Illinois, slaughter sow prices were weak at $23 to $36 with light to moderate demand for heavy offerings.  Receipts were down on the week and even on the year.  Barrow and gilt prices were weak at $47 to $51 with moderate demand for moderate offerings. 

Pork values opened weak – down $.50 at $76.83.  Ribs jumped $8.41 this morning.  Picnics and butts were firm to higher.  Hams and bellies were weak to lower.