Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet – which is typical for a Monday.  Bids and asking prices are not yet established.  It’s likely significant trade volume will be delayed until the latter half of the week. A light to moderate scattered trade developed last week in Nebraska, Iowa, and Kansas on Wednesday and finished up in the rest of cattle country on Friday.  Northern dressed deals ranged from $180 to $185, mostly at $183, generally steady with the prior week’s weighted averages.  Southern live trade was at mostly $111, about $1 lower than the prior week’s averages. 

Boxed beef is steady at midday on moderate demand for moderate offerings.  Choice is $.23 lower at $213.19 and Select is $.17 higher at $189.68.  The Choice/Select spread is $23.51. 

In South Dakota last week, receipts were up from the prior week and on the year.  Compared to the previous week’s sales, feeder steers under 900 pounds were $3 to $8 higher and over 900 pounds steady to $3 lower.  Feeder heifers 650 to 900 pounds were $5 to $12 higher and over 900 pounds were steady to $5 lower.  The USDA says demand was good early in the week but turned more moderate by late week.  Feeder supply included 49 percent steers and 93 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 873 to 879 pounds, thin fleshed, brought $146.50 to $147.10 and feeder steers 902 to 949 pounds brought $130.50 to $141.25.  Medium and Lage 1 feeder heifers 858 to 894 pounds brought $124.25 to $131 and feeder heifers 907 to 949 pounds brought $117 to $126. 

Cash hogs opened higher with moderate negotiated purchase numbers.  Packers have had to dig a little deeper to move their desired numbers recently and that’s carried over into the start of this week.  While the supply of ready barrow and gilts remains ample, there has been a boost to the market’s moral as we’ve seen some positive exports sales news in recent weeks.  By no means have the demand expectations been realized, but this has definitely been a step in the right direction.   Barrows and gilts at the Iowa/Southern Minnesota opened $1.89 higher with a range of $68 to $79 for a weighted average of $77.18 and the National Daily Direct is $.20 higher with a range of $62 to $79 for a weighted average of $72.44.  Prices at the Eastern Corn Belt and the Western Corn Belt were not reported due to confidentiality.   

Butcher hog prices at the Midwest cash markets in Dorchester, Wisconsin are steady at $52.  At Illinois, slaughter sow prices were weak – at $20 to $31 with moderate demand for moderate to heavy offerings.  Receipts were down on the week and up on the year.  Barrow and gilt prices were firm at $43 to $51 with good demand for moderate offerings. 

Pork values are sharply higher – up $4.70 at $83.23.  Bellies jumped $18.77 this morning.  Hams were sharply higher.  Loins and picnics were also higher.  Butts and ribs were firm.