Market News
Midday cash livestock markets
Direct cash cattle business is light to moderate. Trade in the south is reported at mostly $106 live, up $1 on the week, with dressed activity in the north at mostly $175, $4.50 higher than last week’s weighted average for Nebraska. Asking prices are around $109 live and $178 to $180 dressed with bids of $107 live. Thursday’s trade was light, mainly at $108 live and $174 to $178 dressed. The USDA’s Cattle on Feed report is out at 3 Eastern/2 Central.
Boxed beef at midday was lower with moderate movement. Choice was down $1.40 at $237.88 and Select was $1.89 lower at $214.02.
At the Winter Livestock Auction feeder cattle sale in Kansas, 800 to 950-pound steers were $7 to $10 higher and 700 to 750-pound heifers were $7 to $9 higher. The USDA says demand was good to very good with several load lots of yearlings available. 92% of the feeder cattle offering weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 850 to 900 pounds brought $136.25 to $143.75 and 900 to 1,000-pound steers sold at $131.50 to $142.85. Medium and Large 1 feeder heifers weighing 750 to 800 pounds were reported at $135 to $136.75 and 800 to 900-pound heifers ranged from $129.85 to $134.10.
Cash hogs are mostly lower with a large opening negotiated run for the major direct markets. Buyers are continuing their efforts to secure the needed supplies and while runs have been large, domestic demand continues to be solid. China has announced new retaliatory tariffs on U.S. goods which go into effect September 1st and December 15th, reportedly including higher tariffs on U.S. pork and beef. As the spread of African Swine Fever continues, China’s General Administration of Customs says pork imports for July were 182,227 tons, up more than 20 million from June and more than double the July 2018 total.
Pork at midday was up $.19 at $80.13. Loins, butts, picnics, and hams were higher, while bellies were lower and ribs dropped $11.82.
National direct barrows and gilts opened $1.02 lower at $56 to $70 for a weighted average of $65.10, while Iowa/Southern Minnesota is $.45 higher at $65.92 and the Western Corn Belt is down $.68 at $64.84. Butcher hogs at the Midwest cash markets are $2 lower at $45 to $51. Illinois direct sows are $1 to $4 lower at $27 to $39 on moderate demand for light to moderate offerings. Barrows and gilts are $1 lower at $39 to $47 with light to moderate demand for moderate offerings. Boars range from $8 to $27.
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