Market News

Midday cash livestock markets

Direct cash cattle trade is off to a pretty quiet start today.  A few more bids are on the table in Kansas at $109 live and in parts of Nebraska and Iowa at $180 to $182 dressed.  Those are a long way from current asking prices of $113 to $114 live and $184 dressed.  Activity is expected to improve as the day progresses with significant trade volume likely happening sometime before the end of the day on Friday. 

Boxed beef is steady at midday on moderate demand for moderate offerings.  Choice is $.24 lower at $214.18 and Select is $.03 lower at $190.86.  The Choice/Select spread is $23.32. 

At the Ozarks Regional Stockyards in Missouri, receipts were down on the week and the year.  Compared to the most recent sale, steer calves were $5 to $10 higher with heifer calves $4 to $8 higher.  Yearlings were not well tested, however undertones were sharply higher.  The USDA says demand was good on a moderate supply, which was impacted by the heat and humidity.  Feeder supply included 53 percent steers and 45 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 542 pounds brought $158 to $165 and feeder steers 600 to 624 pounds brought $149 to $149.50.  Medium and large 1 feeder heifers 557 to 598 pounds brought $130 to $147 and feeder heifers 604 to 647 pounds brought $130 to $140. 

Cash hogs opened firm with light to moderate negotiated purchase numbers.  There has been renewed optimism that demand could see a spike as China continues to struggle to control African Swine Fever.  But another week has gone by since China promised to make large pork purchases and has failed to do so.  With heavy supplies and the continued large slaughter runs, prices continue to be under pressure. Barrows and gilts at the Iowa/Southern Minnesota opened $.46 higher with a range of $56 to $71 for a weighted average of $69.60 and the National Daily Direct opened $.31 higher with a base range of $56 to $71 for a weighted average of $67.85.  Prices at the Western Corn Belt and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 lower at $38 to $42.

Pork values are lower – down $1.40 at $70.20.  Picnics are $5.63 lower with ribs, butts, loins, and hams also weak to lower.  Bellies are firm.