Market News

Midday cash livestock markets

Direct cash cattle markets are mostly quiet. Light trade has been reported at $182 to $183 dressed in the north, up $2 to $3 on the week, with some of the sales in eastern areas of Nebraska scheduled for delivery during the week of July 22nd. Business was light Thursday in Iowa and Nebraska at $180 to $185 dressed, steady to $5 higher than the previous week’s business. Asking prices are $113+ live and $184+ dressed with bids of $109 live in Kansas and $114 live and $182 dressed in Nebraska. Widespread business will likely develop sometime between late morning and midafternoon, depending on packer demand.

Boxed beef at midday was mixed with light to moderate movement. Choice was up $.11 at $213.88 and Select was down $.17 at $190.62.

At the Mitchell Livestock Auction feeder cattle sale in South Dakota Thursday, compared to two weeks ago, steers were $6 to $15 higher and heifers were up $3 to $7. The USDA says it was a much larger offering than the last test, with many load lots and good demand for all weights. 61% of the offering were steers and 93% of the weekly total run weighed more than 600 pounds. Thin fleshed Medium and Large 1 feeder steers weighing 870 to 890 pounds ranged from $146.75 to $148.75 and regular fleshed steers weighing 900 to 980 pounds sold at $124.50 to $144.25. Medium and Large 1 feeder heifers weighing 800 to 880 pounds were reported at $119.50 to $128.25 and 900 to 975-pound heifers brought $118.50 to $122.75.

Cash hogs are steady to lower, with light to moderate opening negotiated numbers for the major direct markets. It’s generally been a firm week for direct business, with plenty of packer leverage over the market ready numbers. On the downside, buyers might have moved most of the needed numbers, wholesale demand has been inconsistent, and the industry is waiting for progress with China. Trade talks are reportedly ongoing, while both U.S. and Chinese tariffs remain in place. The USDA says China did not buy U.S. pork last week. New cases of African Swine Fever have been reported this week in China and Bulgaria.

Pork at midday was down $1.81 at $70.36. Bellies dropped $16.46, with loins and butts modestly lower. Picnics, ribs, and hams were higher.

National direct barrows and gilts opened $1.49 lower at $56 to $70 for a weighted average of $66.34. The major regional direct markets were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $38 to $42. Illinois direct sows are $1 lower at $19 to $31 on moderate demand for light to moderate offerings. Barrows and gilts are steady at $40 to $48 on moderate demand and offerings. Boars range from $6 to $30.