Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start.  Buyers and sellers are busy taking inventory and bids and asking prices will likely be slow to surface.  Significant trade volume isn’t expected to develop until around midweek.  Deals last week were at mostly $138, $2 lower than the prior week’s weighted averages.  Northern dressed business was at mostly $226, $3 lower than the previous week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.53 higher at $263.70 and Select was $2.16 higher at $245.18.  The Choice/Select spread is $18.52. 

In Missouri, compared to the previous week steers under 650 pounds were steady to $3 higher and steers over 650 pounds were steady to $2 lower.  Heifers were unevenly steady to $2 lower.  The USDA says supply was moderate with a few barns holding special sales with decent offerings of better quality weaned and vaccinated calves.  However, calves that were unweaned, bawling, and carrying extra flesh were discounted.  Receipts were up on the week and the year.  Feeder supply included 50% steers and 34% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 549 pounds brought $165 to $210.25 and feeder steers 550 to 599 pounds brought $162 to $203.  Medium and Large 1 feeder heifers 450 to 499 pounds brought $150 to $186 and feeder heifers 500 to 549 pounds brought $149.50 to $178.

Cash hog prices at midday were not reported due to confidentiality.  There were very limited reported purchases.  Processors were aggressive in their procurement efforts last week and bid up to move their desired numbers.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork on the global market and domestically has been strong, helping provide price support.  But there are long-term concerns adding pressure to prices. 

Butcher hog prices at the Midwest cash markets are steady at $70.

Pork values are higher at midday – up $.71 at $107.82.  Bellies, loins, butts, and ribs were higher to sharply higher.  Picnics and hams were lower to sharply lower.