Market News

Midday cash livestock markets

Direct cash cattle business is underway. Trade is reported at $137 on the live basis in Kansas and Texas, $1 to $1.50 higher than last week’s weighted averages. Asking prices are $138+ on the live basis, with nothing established yet for dressed. Widespread business is expected to develop during the second half of the week. This week’s show list looks mixed, higher in Kansas, Nebraska, and Colorado, lower in Texas. Last week, formula and trade volume totals were larger in all the major feeding areas.

Boxed beef at midday was higher with light to moderate movement. Choice was up $1.43 at $289.29 and Select was $.78 higher at $277.83.

At the Oklahoma National Stockyards feeder cattle sale in Oklahoma City Monday, compared to the previous week, feeder steers and heifers were mostly steady to $2 higher, while steer calves were steady to $3 lower and heifer calves were steady to $3 higher. The USDA says the quality was average to attractive, with several thin fleshed, lighter weight cattle available. Receipts of 15,500 head were down on the week and the year. Medium and Large 1 to 2 feeder steers weighing 500 to 600 pounds were reported at $144 to $186 and 600 to 700-pound steers brought $142.50 to $176. Medium and Large 1 feeder heifers weighing 500 to 600 pounds sold at $149 to $169 and 600 to 700-pound heifers ranged from $140 to $157.

Cash hogs are steady to lower with a moderate negotiated run at the major direct markets. After the slow start to the week, buyers are assessing the availability of market ready numbers, near-term processing needs and chain speed, pork demand, and weather issues in parts of the region.

The opening numbers for the major direct hog markets were not reported due to confidentiality. The five-day weighted average is $64.28 for national direct barrows and gilts, $69.16 for Iowa/Southern Minnesota, $69.08 in the Western Corn Belt, and $64.56 for the Eastern Corn Belt.

The Dorchester, Wisconsin butcher hog market is steady at $47. Garnavillo, Iowa is closed. Illinois direct sows are $1 to $2 lower at $30 to $41 on light demand for moderate offerings. Barrows and gilts are steady at $40 to $46 with moderate demand and offerings. Boars range from $10 to $25.

Pork at midday was $1.79 higher at $93.73. Hams were sharply higher and loins were firm. Bellies were sharply lower and ribs were down modestly, while butts and picnics were weak.