Market News

Midday cash livestock markets

There’s a light direct cash cattle trade underway in There’s a light direct cash cattle trade underway in parts of the South.  Live deals are at $138, $2 lower than last week’s weighted averages.  A few deals have been reported in Nebraska at $227 dressed, about $3 below last week’s business. Asking prices are at $142 live in the South, while the North remains quiet.  Look for more business to pick up as the week progresses.  There was a special Fed Cattle Exchange Auction today with 1,805 head offered with only 34 head sold at $135.25.  The rest went unsold as they did not meet the reserve prices that ranged from $133 to $142. 

Boxed beef is mixed at midday on solid demand for fairly light offerings.  Choice is $.73 higher at $261.04 and Select is $3.41 higher at $249.08.  The Choice/Select spread is $11.96. 

At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers were steady.  Feeder heifers were $3 to $6 lower.  The USDA says supply and demand were both moderate.  Receipts were up on the week and the year.  Feeder supply included 46% steers and 44% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 547 pounds brought $187.50 to $201 and feeder steers 600 to 645 pounds brought $170 to $184. Medium and Large 1 feeder heifers 607 to 632 pounds brought $150 to $157 and feeder heifers 700 to 735 pounds brought $146 to $152.75. 

Cash hogs opened higher at midday with solid morning purchases.  Processors were a little more aggressive in their procurement efforts to start the day and bid up to move their desired numbers.  All eyes are on the availability of market-ready hogs.  Demand for US pork has been strong on the global market and that is helping provide some price support.  But there are long-term demand concerns. Barrows and gilts at the National Daily Direct are $3.32 higher with a base range of $101 to $112 and a weighted average of $104.63.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were $2 lower at $68. At Illinois, slaughter sow prices were steady with moderate to light demand for moderate to heavy offerings at $64 to $75.  Barrows and gilts were steady with light to moderate demand for light to moderate offerings at $65 to $74.  Boars ranged from $40 to $50 and $5 to $15. 

Pork values are higher at midday – up $2.28 at $103.83.  Bellies are sharply higher.  Ribs and hams are higher.  Picnics, loins, and butts are all lower.