Market News

Midday cash livestock markets

Trade has been slow to start the day after light to moderate trade yesterday. Asking prices for cattle left on showlists are around $122 in the South and around $199 in the North. Beef cutouts might move higher through the day on moderate box movement. 

Boxed beef is higher to sharply higher at midday on moderate demand for light offerings.  Choice is $3.60 higher at $278.82 and Select is $1.59 higher at $258.41.  The Choice/Select spread is $20.41. 

At the Clovis Livestock Auction in New Mexico, compared to last week, steers and heifers under 600 pounds had a higher undertone.  Feeders over 600 pounds were $3 to $4 higher. An improved price for load lots was noted. USDA says demand was very good.  Receipts were down on the week on the year. Feeder supply included 44 percent steers and 29 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 623 to 626 pounds brought $151 to $164 and feeder steers 655 to 695 pounds brought $143 to $163. Medium and Large 1 feeder heifers 575 to 590 pounds brought $150 to $153, and feeder heifers 601 to 635 pounds brought $150 to $153. 

Cash hogs opened lower with fairly light negotiated numbers.  The market will be closely watching the development of African Swine Fever in the Dominican Republic. Processors continue to monitor the availability of market-ready barrows and gilts.  Overall, the strong demand for US pork on the global market and domestically has been largely supportive to prices.  The industry does expect that to continue.  However, should a disruption occur, it would likely send prices tumbling.

Barrows and gilts at the National Daily Direct are lower with a weighted average of $101.65; the major regional direct markets were not reported at midday due to confidentiality.  

Pork values are higher at midday – up $1.10 at $124.97. Ribs, butts and hams are sharply higher. Loins and bellies are higher. Picnics are lower.