Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start again today.  Bids have yet to surface.  A few asking prices have been floated around $125 plus live in the South, while the North remains quiet.  It’s likely significant trade volume will be delayed until midweek or later. 

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $1.60 lower at $269.81 and Select is $.74 higher at $266.90.  The Choice/Select spread is $2.91. 

At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers were steady to $3 higher.  Feeder heifers were steady to $5 higher, with quality heifers at heavier weights seeing the most demand.  Receipts were up on the week and the year.  Feeder supply was 57 percent heifers and 51 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 548 pounds brought $162 to $182 and feeder steers 600 to 649 pounds brought $137 to $147.50.  Medium and Large 1 feeder heifers 652 to 698 pounds brought $132 to $142 and feeder heifers 805 to 844 pounds brought $122 to $135.75. 

Cash hogs are higher at midday with moderate negotiated purchases.  Strong demand on both the global market and domestically has been very supportive to prices.  That’s expected to continue.  Packers have been aggressive in their procurement efforts all while keeping a close eye on the availability of market-ready barrows and gilts.  Daily slaughter runs have been relatively high. Barrows and gilts at the National Daily Direct are $.39 higher at with a base range of $97 of $102.50 with a weighted average of $99.96.  Prices at the regional direct markets were not reported

The Midwest cash markets are steady at $66. 

Pork values are sharply higher at midday – up $5.36 at $115.46.  All of the primals were higher, bellies, hams, butts, and ribs led the way higher.  Picnics and loins were also sharply higher.