Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a typically quiet start to the week.  Buyers and sellers are busy taking inventory, with bids and asking prices yet to surface.   Last week’s business was light and scattered.  Southern live deals had a full range of $110 to mostly $111, which was generally $1 higher than the previous week’s weighted averages.  Northern dressed deals ranged from $170 to $174, generally $2 higher than the previous week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday on good demand for light offerings.  Choice is $1.17 higher at $244.02 and Select is $1.48 higher at $222.16. The Choice/Select spread is $21.86. 

In South Dakota last week, steer calves were unevenly steady and heifer calves were steady to $4 higher.  Yearling feeder steers were mostly steady, and heifers were steady to $3 lower.  The USDA says demand was moderate to good for calves and good for yearling steers and heifers.  The week’s offering was much lighter due to the Thanksgiving Day holiday.  Feeder supply included 54 percent steers and 32 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 550 to 599 pounds brought $148 to $179.50 and feeder steers 600 to 646 pounds brought $138.50 to $164.  Medium and Large 1 feeder heifers 450 to 499 pounds brought $135 to $167 and feeder heifers 951 to 954 pounds brought $138.50 to $139. 

Cash hogs are steady at midday with solid negotiated numbers.  The industry continues to monitor supply and demand.  The supply of market-ready barrows and gilts is more than ample and processors continue to push daily slaughter totals higher.  While that’s keeping the supply chain moving and preventing more hogs from backing up in the production system, it’s also adding more pork to an already saturated market.  The industry remains optimistic demand for US pork will continue to see strength in both the global and domestic markets.  Barrows and gilts at the National Daily Direct are $.09 lower with a base range of $50 to $57.50 and a weighted average of $56.43.  Prices at the regional direct markets were not reported at Midday due to confidentiality. 

Butcher hog prices at the Midwest cash markets had no comparison but are at $36, which is below the last reported prices last week. At Illinois, slaughter sow prices were weak with moderate demand for heavy offerings at $28 to $41.  Barrow and gilt prices were weak with moderate demand for moderate offerings at $36 to $42.  Boars ranged from $15 to $19 and $5 to $8. 

Pork values are sharply higher at midday – up $8.17 at $88.13.  Bellies jumped nearly $33 to start the day.  Hams are also sharply higher.  Butts, loins, and ribs are all higher.  Picnics are lower.