Market News

Midday cash livestock markets

Direct cash cattle trade activity is relatively quiet to start the day.  There are a few scattered bids on the table at $125 live and $197 to $202 dressed in Nebraska.  Asking prices are around $124 live in the South and $202 to $204 dressed in the North.  Look for more business to develop as the day progresses.  Today’s Fed Cattle Exchange was a non-starter.  There were 5,844 head offered with just 64 head sold at $122. 

Boxed beef was sharply lower at midday on light demand for moderate offerings.  Choice is $3.04 lower at $321.71 and Select was $4.93 lower at $274.82.  The Choice/Select spread was $37.89. 

At the Kingsville Livestock Auction in Missouri, compared to last week steers were steady to $6 higher, demand for steers over 600 pounds was solid.  Heifers sold slightly uneven with calves under 600 pounds $3 to $5 lower and over 600 pounds mostly steady with two loads of heifers at 715 pounds bringing a higher undertone.  The USDA says demand was good for a moderate supply.  Receipts were up on the week and down slightly on the year.  Feeder supply included 59% steers and 63% of the offering over 600 pounds.  Medium and Large 1 feeder steers 600 to 642 pounds brought $158 to $170 and feeder steers 961 to 964 pounds brought $127.50 to $138.75.  Medium and Large 1 feeder heifers 550 to 599 pounds brought $137.50 to $148 and feeder heifers 607 to 632 pounds brought $136.50 to $147. 

Cash hogs are higher at midday with moderate negotiated purchases.  Processors have been aggressive in their procurement efforts and that’s been reflected in prices.  The industry expects the strong demand for US pork on the global market and domestically to continue and that’s been very supportive to the cash hog market.  However, should a disruption occur, it would likely send prices tumbling.  Hog weights this week dropped to 279.3 pounds, which’s down 2.2 pounds on the week and down 6.3 pounds on the year. Barrows and gilts at the National Daily Direct are $2.60 higher with a base range of $115 to $137.50 and a weighted average of $122.94.  Prices at the regional direct markets were not reported at midday due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $1 higher at $81. At Illinois, slaughter sow prices are steady with good demand for moderate to heavy offerings at $40 to $50.  Barrow and gilt prices were steady with good demand for heavy offerings at $80 to $90.  Boars ranged from $45 to $50 and $12 to $18. 

Pork values are sharply higher at midday – up $2.50 at $110.33.  Hams and ribs are both sharply higher.  Butts, loins, picnics, and bellies were lower to sharply lower.