Market News

Midday cash livestock markets

Direct cash cattle trade activity is picking up.  Bids have surfaced at $124 live in the South and $126 live and $200 dressed in Nebraska.  Asking prices are at $126 plus live in the South and $201 to $202 dressed in the North.  While some business could take place today, look for significant trade volume to develop at midweek or later. 

Boxed beef was mixed at midday with light to moderate demand for light offerings.  Choice is $2.10 higher at $285.14 and Select is $.04 lower at $263.15.  The Choice/Select spread is $21.99. 

At the Callaway Livestock Center in Missouri, compared to last week steer calves 450 to 500 pounds sold with a higher undertone on a light offering, steers 500 to 550 pounds were steady to $2 higher on a light test.  There was a limited offering of yearlings, but 800-to-900-pound steers were firm to $3 higher.  Feeder heifers 400 to 500 pounds were steady, and 500 to 600 pounds were lightly tested, and heifers 650 to 825 pounds were steady to $3 higher.  The best demand was on eight pot loads of generally good quality yearling steers all were met with good demand and sold on an active market.  Receipts were up on the week and the year.  Feeder supply included 71% steers and 74% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 870 to 876 pounds brought $152 to $156.25.  Medium and Large 1 feeder heifers 658 to 672 pounds brought $152 to $157.50. 

Cash hogs are lower at midday with strong negotiated purchases to start the day.  Packers continue to be able to move their desired numbers at lower prices as the supplies of market-ready barrows and gilts are more than ample.  Demand for US pork on the global market and domestically have been strong.  That is expected to continue. Barrows and gilts at the National Daily Direct are $.39 lower with a base range of $62 to $66 and a weighted average of $65.08 and the Western Corn Belt had a weighted average of $65.08.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. 

Pork values are higher at midday – up $.79 at $95.37.  Picnics are sharply higher.  Butts, hams, and loins are higher.  Ribs are lower and bellies are sharply lower.