Market News

Midday cash livestock markets

Another round of light direct cash cattle trade is underway.  A few deals in Nebraska have been reported at $124 live and $199 dressed – all are marked for delayed delivery.  That’s fully steady with both last week and yesterday’s business.  Asking prices for cattle left on showlists are around $126 live in the South and $202 dressed in the North.  Look for the rest of this week’s business to develop sometime today or tomorrow. 

Boxed beef is mixed at midday on moderate demand for moderate offerings.  Choice is $.48 higher at $215.55 and Select is $.96 lower at $211.06.  The Choice/Select spread is $4.38. 

At the Huss Livestock Market in Nebraska, compared to last week steers under 700 pounds were $3 to $8 higher and steers over 700 pounds were steady to $3 higher.  Heifers were steady to $4 higher.  The USDA says demand was good from the buyers in the crowd.  Receipts were down on the week and nearly steady on the year.  Feeder supply included 58 percent steers and 71 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 646 pounds brought $160 to $171.50 and feeder steers 650 to 695 pounds brought $153 to $162.75.  Medium and Large 1 feeder heifers 600 to 647 pounds brought $145.50 to $155 and feeder heifers 650 to 692 pounds brought $140.25 to $151.25. 

Cash hogs opened firm to higher with moderate negotiated purchases.  Today, optimism that demand for US pork will continue to grow is behind today’s movement.  The global shift in protein opens another opportunity for more demand to surface for US pork.  That’s key as supplies are more than ample and pork production is projected to increase again this year.  Barrows and gilts at the National Daily Direct opened $.93 higher with a base range of $48 to $54.50 for a weighted average of $52.85; the Iowa/Southern Minnesota opened $.92 higher for a weighted average of $52.98; the Western Corn Belt opened $.60 higher for a weighted average of $52.64.  The Eastern Corn Belt was not reported due to confidentiality. 

Butcher hog prices at the Midwest Cash Markets are $2 higher at $40.  At Illinois, slaughter sow prices were firm with moderate demand for moderate to heavy offerings at $12 to $20.  Barrow and gilt prices were firm with moderate demand for moderate offerings at $28 to $36. 

Pork values are firm at midday – up $.72 at $79.46.  Bellies, loins, and butts are all higher.  Picnics, hams, and ribs are lower.