Market News

Midday cash livestock markets

Direct cash cattle trade activity is still relatively quiet at midday.  Bids have surfaced in Kansas at $120 to $121 live.  Asking prices are around $121 plus live in the South, while the North remains quiet.  However, dressed asking prices are expected to surface somewhere above the bulk of last week’s deals which were $190 dressed.  Significant trade volume will likely be delayed until midweek or later.   

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $3.30 higher at $261.97 and Select is $.87 lower at $248.99.  The Choice/Select spread is $12.98. 

At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers under 600 pounds were steady to $3 lower, while steers over 600 pounds were steady to $5 higher.  Feeder heifers were steady to $4 higher.  Receipts were up slightly on the week.  Feeder supply included 51 percent steers and 49 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 547 pounds brought $153 to $185 and feeder steers 851 to 896 pounds brought $133 to $137.50.  Medium and Large 1 feeder heifers 500 to 548 pounds brought $137 to $154 and feeder heifers 703 to 749 pounds brought $126 to $138.85. 

Cash hogs are mixed at midday wither moderate negotiated numbers.  The industry continues to monitor the availability of market-ready barrows and gilts.  Packers have been aggressive in their procurement efforts recently.  The strong demand has been supportive to prices and that’s expected to continue.  Daily slaughter runs have been relatively strong, but have dropped below year-ago levels.  Barrows and gilts at the National Daily Direct are $.27 higher with a base range of $92 to $100 and weighted average of $97.84; the Iowa/Minnesota is $.14 lower with a weighted average of $99.61; the Western Corn Belt is $.19 lower with a weighted average of $99.56.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60.  At Illinois, slaughter sow prices were steady with good demand for heavy offerings at $70 to $80.  Barrow and gilt prices were $1 to $3 higher with good demand for moderate to heavy offerings at $63 to $71.  Boars ranged from $35 to $40 and $15 to $20. 

Pork values are higher at midday – up $.53 at $109.82.  Picnics and hams were sharply higher.  Ribs and bellies were higher.  Loins and butts were lower to sharply lower.