Market News

Midday cash livestock markets

A quiet start to the day for direct cash cattle trade activity following the moderate to active trade that took place on Wednesday.  Asking prices for cattle left on showlists are around $126 to $127 live in the South and $201 plus dressed in the North.  It’s likely the bulk of the week’s business has wrapped up, but there could be some cleanup trade trickle in today and Friday.  Southern live deals this week have been marked at $124 to $126, steady to $2 higher than last week’s weighted averages.  Northern dressed trade has been at $196 to mostly $200, $4 higher than last week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.99 lower at $282.64 and Select is $.49 higher at $262.18.  The Choice/Select spread is $20.46.   

At the Hub City Livestock market in South Dakota, compared to last week there were higher undertones noted on steers.  The USDA says demand was good to very good for yearling cattle.  There were many loads and packages available, both off grass and out of yards.  Most were in moderate to moderate plus flesh.  The best test was on steer calves 501 to 600 pounds, and they were $4 to $5 lower.  The best test on heifer calves was 501 to 550 pounds were $4 to $5 higher.  There was moderate to good demand for calves with full preconditioning, light demand was seen for calves with only spring shots.  The market for yearlings was active and was mostly moderate for calves.  Flesh varied, but was mostly light to moderate.  Receipts were down on the week and the year.  Feeder supply included 51% steers and 69% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 605 to 606 pounds brought $165 to $169 and feeder steers 902 to 945 pounds brought $159.75 to $163.  Medium and Large 1 feeder heifers 827 to 836 pounds brought $153.50 to $157.75 and feeder heifers 936 to 943 pounds brought $135 to $135.75. 

Cash hogs are lower at midday with solid negotiated purchases.  The industry continues to monitor the availability of market-ready barrows and gilts.  Processors continue to move their desired numbers and lower prices.  Demand for US pork on the global market and domestically has been strong, but some long-term demand concerns are creeping in, and prices have been under pressure. Barrows and gilts at the National Daily Direct are $.55 lower with a base range of $61 to $65 and a weighted average of $62.21; the Iowa/Minnesota had a weighted average of $63.27; the Western Corn Belt had a weighted average of $63.27.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $62. At Illinois, slaughter sow prices were steady with good demand for moderate to heavy offerings at $50 to $60.  Barrows and gilts were steady with moderate demand for moderate offerings at $39 to $46.  Boars ranged from $20 to $30 and $10 to $18. 

Pork values are sharply higher at midday – up $7.28 at $100.75.  Hams and bellies are both sharply higher.  Ribs, picnics, and loins are higher.  Butts are sharply lower.