Market News

Midday cash livestock markets

Direct cash cattle trade is off a quiet start this morning following yesterday’s light to moderate business. Deals in the South were at mostly $119 live, that’s about $1 higher than last week’s weighted averages.  The North is still waiting for business to develop, which is expected at some point today.  The lone bid on the table at midday is $118 live in Nebraska.  Asking prices for cattle left on showlists are around $121+ live in the South and $190 to $193 dressed in the North. 

Boxed beef opened mixed with moderate demand for moderate offerings.  Choice is $.42 lower at $225.18 and Select opened $.17 higher at $208.29.  The Choice/Select spread is $16.89. 

At the Douglas County Livestock Auction in Missouri, compared to two weeks ago feeder steers are steady to $3 higher and feeder heifers under 600 pounds are steady to $3 higher and over 600 pounds are steady to $2 lower.  The USDA says demand was good and supply was heavy.  Receipts of 2,591 are up from two weeks ago.  Feeder supply included 65 percent steers and 50 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 680 pounds brought $147 and feeder steers 718 to 747 pounds brought $138 to $145.25.  Medium and Large 1 feeder heifers 554 to 581 pounds brought $129 to $133 and feeder heifers 662 to 697 pounds brought $125 to $128.

Cash hogs opened steady to lower with moderate negotiated purchases.  Prices have been higher this week – which could signal a couple of things, the market has hit its seasonal low and packers have had more wiggle room to move their desired numbers.  However, heavy supplies are limiting the market’s ability to keep these higher prices sustained.  Domestic demand has remained strong, but the industry wants and needs to see demand for US pork rise significantly on the global market.  Barrows and gilts at the Iowa/Southern  Minnesota opened $1.06 lower for a weighted average of $45.74; the Western Corn Belt is $1.06 lower for a weighted average $46.65; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct opened $.06 higher with a base range of $41 to $47.94 for a weighted average of $46.73.  

Butcher hog prices at the Midwest Cash Markets are steady at $36. 

At Illinois, slaughter sow prices were steady at $22 to $33 with moderate demand for moderate offerings.  Receipts are up on the week and down on the year.  Barrow and gilt prices are steady at $26 to $32 with moderate demand for moderate offerings. 

Pork values opened higher – up $1.06 higher at $82.42.  Picnics, hams, ribs, butts, and bellies are all higher to sharply higher.  Loins are lower.