Market News

Midday cash livestock markets

Direct cash cattle trade is at a standstill with bids and asking prices not yet established.  This week’s showlists are mixed – higher in Kansas, nearly steady in Texas, and lower in Colorado and Nebraska.  We could see some starter bids floated today.  But it’s likely significant trade volume won’t develop until the latter half of the week. 

Boxed beef opened sharply higher on strong demand for heavy offerings.  Choice is $5.45 higher at $224.07 and Select is $2.43 higher at $23.85.  The Choice/Select spread is $23.85. 

At the Oklahoma National Stockyards, receipts are down on the week and up on the year.  Compared to last week all classes of feeder cattle traded $6 to $12 lower.  Steer and heifer calves were $10 to $16 lower.  The USDA says demand was light.  Feeder supply included 59 percent steers and 68 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 709 to 737 pounds brought $133 to $142.50 and feeder steers 805 to 846 pounds brought $124.50 to $138.75.  Medium and Large 1 feeder heifers 553 to 577 pounds brought $125.75 to $133 and feeder heifers 803 to 823 pounds brought $114 to $118. 

Cash hogs opened mixed with moderate negotiated purchase numbers.  The trade continues to watch the demand situation – which remains uncertain. And the supply of ready barrows and gilts is ample with very large slaughter runs.  That’s adding more pork to an already saturated market.  China remains a factor – as African Swine Fever continues to spread.  A global pork shortage is expected – but the question remains – when.  If that does happen, we could see demand for US pork skyrocket.  Barrows and gilts at the Iowa/Southern Minnesota are $.69 higher for a weighted average of $70.10; the Western Corn Belt opened $.90 higher for a weighted average of $69.83; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct opened $.53 lower with a base range of $58.52 for a weighted average of $68.22. 

At Illinois, slaughter sow prices were firm at $33 to $48 with good demand for moderate offerings.  Receipts were up on the week and down on the year.  Barrow and gilt prices were $1 to $2 lower at $41 to $49 with moderate demand for moderate to heavy offerings. 

Pork values opened weak – down $.64 at $89.55.  Loins and hams were lower.  Picnics were weak.  Butts, ribs, and bellies were firm to higher.