Market News

Midday cash livestock markets

A quiet start to this Friday following the week’s light to moderate direct cash cattle trade that took place across most areas.  Asking prices for cattle left on showlists are around $102 live in the South and $165 dressed in the North.  There are a few bids at $163 dressed.  Southern live trade this week has been mostly $99 to $100, while Northern dressed business has been at mostly $163. 

Boxed beef is firm at midday with moderate demand for light offerings.  Choice is $.33 higher at $204.99 and Select is $.78 higher at $192.79.  The Choice/Select spread is $12.20.

At the Douglas County Livestock Auction in Missouri, compared to last week, steers are steady to $5 higher and heifers are steady.  The USDA says demand was good and supply was heavy.  Receipts are up on the week.  Feeder supply included 76 percent steers and 68 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 765 to 770 pounds brought $139.50 to $142.60 and feeder steers 816 to 828 pounds brought $135 to $139.35.  Medium and Large 1 feeder heifers 500 to 533 pounds brought $134 to $144 and feeder heifers 619 to 644 pounds brought $133 to $133.50. 

Cash hogs are mixed at midday with moderate negotiated purchases.  The pork industry is looking for ongoing strength in the demand picture, both globally and domestically.  That will be imperative to improving prices.  Supplies continue to be heavy and processors continue to push daily slaughter totals higher.  That’s adding more pork to the market.  These higher slaughter totals are also helping to start to move through the backlog of hogs in the production system.

Barrows and gilts at the National Daily Direct are up $.33 with a base range of $35 to $38.61 for a weighted average of $38.27; the Iowa/Minnesota is $.68 lower for a weighted average of $37.94; the Western Corn Belt is $.65 lower for a weighted average of $37.94.  The Eastern Corn Belt was not reported due to confidentiality. 

Midwest cash markets are closed today. At Illinois, slaughter sows prices were steady with moderate to good demand for moderate offerings at $11 to $23.  Barrow and gilt prices were firm at $19 to $24 with moderate demand for moderate to heavy offerings.  Boars ranged from $1 to $3. 

Pork values are sharply higher again at midday – up $3.04 at $73.84.  Hams, picnics, and loins are all sharply higher.  Bellies are higher.  Ribs are weak and butts are sharply lower.