Market News

Midday cash livestock markets

Direct cash cattle trade remains quiet with bids and asking prices not yet established.  Significant trade volume will likely be delayed until at least midweek or possibly later.  The bulk of last week’s business took place on Wednesday and Thursday.  Northern dressed deals ranged from $169 to $174, mostly $173 to $174, $2 to $3 lower than the prior week’s weighted average basis in Nebraska.  Southern live trade had a full range of $108 to $111, mostly $110 to $111, which was $1 to $2 lower than the previous week’s weighted averages. 

Boxed beef is steady to sharply higher at midday on moderate to good demand for moderate offerings.  Choice is $2.60 higher at $217.64 and Select is $.12 higher at $205.86.  The Choice/Select spread is $11.68. 

At the Oklahoma National Stockyards, compared to last week, feeder steers and heifers were steady to $4 lower with most declines on plain cattle.  Steer and heifer calves under 500 pounds were $2 to $6 higher, over 500 pounds steady to $2 lower.  The USDA says demand was moderate to good for all classes, especially 4-weight and under steers.  Receipts were up on the week and the year.  Feeder supply included 63 percent steers and 56 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 458 to 495 pounds brought $161 to $184 and feeder steers 601 to 649 pounds brought $141 to $152.  Medium and Large 1 feeder heifers 503 to 549 pounds brought $132 to $146.50 and feeder heifers 551 to 598 pounds brought $126 to $138. 

Cash hogs are lower at midday with moderate negotiated numbers.  Supply and demand continue to be the focus of the market.  The availability of market-ready barrows and gilts is more than ample and daily slaughter totals remain close to daily records.  That’s keeping the supply chain moving and preventing hogs from backing up in the production system, but it’s also adding more pork to the market.  This comes at a time when the industry is facing demand uncertainty, both globally and domestically.  Barrows and gilts at the National Daily Direct are $.56 lower with a weighted average of $54.97.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $40. At Illinois, slaughter sow prices were $2 to $3 higher with good demand for heavy offerings at $32 to $44.  Barrow and gilt prices were $1 lower with good demand for moderate to heavy offerings at $30 to $38.  Boars ranged from $15 to $20 and $5 to $10. 

Pork values are steady at midday – up $.07 at $78.59.  Butts, picnics, ribs, and loins are all sharply higher.  Hams are weak.  Bellies are sharply lower.