Market News

Midday cash livestock markets

Direct cash cattle trade is off to a slow start following Thursday’s light business across most areas.  Asking prices for cattle left on showlists are around $120 plus in the South and $190 to $192 in the North.  There are a few bids that have surfaced at $107 live.  Deals this week have ranged from $119 to $120 live and mostly $191 dressed in the North.  Those are about steady to slightly higher than last week’s weighted averages.

Boxed beef is lower to sharply lower at midday on moderate demand for light offerings.  Choice is $0.64 lower at $316.14 and Select is $2.97 lower at $292.94.  The Choice/Select spread is $23.20. 

At the Mitchell Livestock Auction in South Dakota, compared to last week A higher undertone was noted on steers over 850 pounds.  An unevenly steady market was noted on heifers up to 800. Heifers 800-950 pounds sold steady to 5.00 higher. There were many load lots in the day’s offering.  USDA says demand was good.  Feeder supply included 24 percent steers and 98 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 851 to 882 pounds brought $130.00 to $132.50 and feeder steers 925 to 943 pounds brought $123.25 to $129.00. Medium and Large 1 feeder heifers 815 to 843 pounds brought $117.50 to $121.75 and feeder heifers 857 to 899 pounds brought $117.00 to $122. 

Cash hogs opened lower with fair negotiated numbers.  Overall, the strong demand recently has been very supportive to prices, and the industry expects that to continue. But a correction would likely move prices sharply lower. 

Barrows and gilts at the National Daily Direct are $1.95 lower with a base range of $66.67 to $114.89 for a weighted average of $97.52; the Iowa/Minnesota is $2.45 lower for a weighted average of $105.12; the Western Corn Belt is $2.17 lower for a weighted average of $104.69.  The Eastern Corn Belt has a weighted average of $91.95 at midday with no comparison.

Butcher hog prices at the Midwest cash market are steady at $80. At Illinois, slaughter sow prices were steady to $2 lower with moderate demand for moderate offerings at $48 to $58.  Barrow and gilt prices were $1 lower with good demand for heavy offerings at $75 to $79.  Boars ranged from $40 to $45 and $15 to $20. 

Pork values are higher at midday – up $0.21 at $116.40. Hams and ribs are higher.  Loins and butts are sharply higher with loins up more than $7.50.  Picnics are sharply lower down $5.60, and Bellies are sharply lower, down more than $10.50.