Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet.  There are just a few scattered bids that have been floated this morning at $111 to $113 live following another round of light to moderate business yesterday.  While the bulk of this week’s deals could very well be wrapped, it is possible for some cleanup/carryover trade to develop before the end of the day. Asking prices for cattle left on showlists are around $112 to $113 live and $185+ dressed.  Dressed deals in the North had a full range of $182 to $185, mostly at $183, which was steady with last week’s business.  Live deals were at $111, steady to $1 lower than last week’s weighted averages.   

Boxed beef is steady to firm at midday on moderate demand for moderate offerings.  Choice is $.08 higher at $213.42 and Select is $.63 higher at $189.24.  The Choice/Select spread is $24.18. 

This week in Nebraska, receipts were down slightly from the most recent weekly reports.  Feeder steers under 600 pounds were $10 to $15 higher, steers 600 to 800 pounds were $5 to $10 higher, over 800 pounds were $1 to $2 higher.  Feeder heifers under 600 pounds were $9 to $12 higher and heifers over 600 pounds were $2 to $7 higher.  The USDA says demand was good for fall-weaned calves and yearlings offered.  Feeder supply included 58 percent steers and 92 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 695 pounds brought $159 to $165 and feeder steers 850 to 899 pounds brought $143.25 to $149.50.  Medium and Large 1 feeder heifers 701 to 797 pounds brought $132 to $142.25 and feeder heifers 802 to 848 pounds brought $133.85 to $143.75. 

Cash hogs opened firm to higher with moderate negotiated purchase numbers.  Packers are working a little harder to move their desired numbers this week.  There has been some positive export news this week, if it continues – we could start to see additional price support.  But supplies are still heavy – the availability of market ready barrows and gilts is ample, and slaughter runs continue to run well above last year’s totals.  And that’s limiting the market’s ability to move higher. 

Barrows and gilts at the Iowa/Southern Minnesota opened $1.20 higher with a range of $62 to $77.50 for a weighted average of $75.46 and the National Daily Direct is $.22 higher with a range of $60 to $77.50 for a weighted average of $71.91.  Prices at the Western Corn Belt and the Eastern Corn Belt were not reported due to confidentiality. 

At Illinois, slaughter sow prices were weak at $20 to $31 with moderate demand for moderate offerings. Barrow and gilt prices were $1 to $2 higher at $43 to $51 with good demand for moderate offerings. 

Pork values are firm at midday – up $.78 at $77.38.  Ribs jumped $6.27 this morning.  Hams and loins are higher.  Picnics are weak at bellies and butts are lower.