Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a slow start following back-to-back days of light business.  Asking prices for cattle left on showlists are around $137 plus live in the South and $219 plus dressed in the North.  Look for a little trade trickle in over the next couple of days, but most of the week’s business has likely wrapped.  Southern live deals this week have been at mostly $137, fully steady with last week’s weighted averages.  Northern dressed deals have been mostly at $218, also fully steady with the prior week’s weighted average basis in Nebraska. 

Boxed beef is lower at midday on light demand for light offerings.  Choice is $1.03 lower at $288.43 and Select is $.38 lower at $279.34.  The Choice/Select spread is $9.09. 

At the Hub City Livestock Auction in South Dakota, compared to last week steers 550 to 700 pounds were $1 to $4 lower, steers 701 to 800 pounds were mostly steady.  Heifers 550 to 700 pounds were mostly steady with instances of up to $6 higher on heifers 700 to 750 pounds.  The USDA says demand was good to very good for light-fleshed calves suitable for grass.  Demand was moderate to good for feeding-type cattle.  Flesh varied again this week from light to heavy and quality was mostly average to attractive.  The market was active.  Receipts were down on the week and the year.  Medium and Large 1 feeder steers 602 to 648 pounds brought $174 to $192.50 and feeder steers 657 to 698 pounds brought $166.50 to $180.50. Medium and Large 1 feeder heifers 659 to 695 pounds brought $147.50 to $160.25 and feeder heifers 700 to 743 pounds brought $141 to $160. 

Cash hogs opened sharply higher with moderate negotiated purchases.  Processors were aggressive in their procurement efforts to start the day.  The industry continues to monitor the availability of market-ready barrows and gilts.  Demand for US pork on the global market and domestically has been strong, which helps provide some price support. Barrows and gilts at the National Daily Direct are $5.83 higher with a weighted average of $68.64; the Iowa/Minnesota and the Western Corn Belt had no comparison but a weighted average of $81.98. Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $47. At Illinois, slaughter sow prices were $2 higher with moderate demand for moderate offerings at $34 to $44.  Barrows and gilts were steady with moderate demand for moderate offerings at $39 to $48.  Boars ranged form $20 to $25 and $10 to $15. 

Pork values are sharply higher at midday – up $6.05 at $100.65.  Hams and bellies are both sharply higher.  Ribs are higher.  Picnics, butts, and loins are lower to sharply lower. 

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