Market News

Midday cash livestock markets

Direct cash cattle trade is relatively quiet at midday.  There are just a few scattered bids on the table at $106 live in the South and $161 dressed in the North.  Those are above Wednesday’s bids.  Asking prices are around $108 plus live in the South and $168 dressed in the North.  There was some scattered trade that developed in the North on Wednesday, but not near enough to establish a trend. 

Boxed beef is sharply higher at midday on good demand for light offerings.  Choice is $1.50 higher at $207.29 and Select is $1.99 higher at $191.57.  The Choice/Select spread is $15.72. 

At the Hub City Livestock Auction in South Dakota, compared to last week the best test was on yearling steers 850 to 950 pounds, which were mostly steady and 1050 to 1100-pounds steers were $2 to $4 lower.  Yearling heifers were not well compared, and calves were too lightly tested last week for an accurate trend, however higher undertones were note.  The USDA says demand was good for the yearling offering consisting of several strings and many loads and packages.  More flesh on yearlings this week as there were fewer off grass and more from yards, mostly in moderate to moderate plus flesh.  Quality varied from plain to attractive.  Receipts are nearly steady on the week and down on the year.  Feeder supply included 66 percent steers and 63 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 553 to 596 pounds brought $143 to $158.75 and feeder steers 900 to 948 pounds brought $130 to $140.75.  Medium and Large 1 feeder heifers 502 to 549 pounds brought $127 to $144.75 and feeder heifers 904 to 929 pounds brought $127.25 to $129. 

Cash hog prices weren’t reported at midday due to packer submission problems.  The industry remains optimistic demand for US pork will see a boost on the global market, which would be supportive to prices.  Export sales this past week were below averages, but Mexico, Japan, and South Korea led the way for pork.  Supplies of market-ready hogs are more than ample and the heavy supply situation is making it very difficult for prices to push higher, especially with the amount of pork coming online.

Butcher hog prices at the Midwest cash markets were steady at $38. 

At Illinois, slaughter sow prices were firm with good demand for moderate to heavy offerings at $24 to $38.  Barrow and gilt prices were weak with good demand for moderate to heavy offerings at $37 to $43.  Boars ranged from $5 to $7. 

Pork values are sharply higher at midday – up $5.04 at $89.56.  Hams jumped $16.20 to start the day.  Loins, ribs, butts, and picnics were all sharply higher. Bellies were lower.