Market News

Midday cash livestock markets

Another quiet start for direct cash cattle trade activity.  Bids and asking prices have yet to surface.  Showlists this week are mixed and significant trade volume will likely be delayed until midweek or later. 

Boxed beef is higher at midday with good demand for light offerings. Choice is $1.38 higher at $277.55 and Select is $1.30 higher at $270.43.  The Choice/Select spread is $7.12. 

At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers were steady to $5 lower and feeder heifers were steady to $4 lower.  The USDA says supply and demand were moderate.  Receipts were down on the week and up on the year.  Feeder supply included 53 percent steers and 41 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 509 to 549 pounds brought $165 to $180 and feeder steers 702 to 743 pounds brought $137 to $154.  Medium and Large 1 feeder heifers 501 to 547 pounds brought $136 to $151 and feeder heifers 702 to 749 pounds brought to $136.25. 

Cash hogs are higher at midday with moderate negotiated purchases reported.  Demand strength on both the global market and domestically has been very supportive to prices and that’s expected to continue.  Packers have been aggressive in their procurement efforts recently and have been bidding up to move their desired numbers.  They’re also keeping a close eye on the availability of market-ready barrows and gilts.  And daily slaughter runs remain at relatively high levels. Barrows and gilts at the National Daily Direct are $.88 higher with a base range of $102.82 to $109 and a weighted average of $103.88.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $66. At Illinois, slaughter sow prices were $2 lower with moderate to good demand for moderate to heavy offerings at $58 to $68.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $67 to $75.  Boars ranged from $40 to $45 and $15 to $18. 

Pork values are weak at midday – down $.25 at $113.83.  Bellies are sharply lower.  Picnics and loins are lower.  Ribs, hams, and butts are higher to sharply higher.