Market News

Midday cash livestock markets

Cash cattle trade has gotten off to another slow start heading into midday. Asking prices are being marked at $138 plus in the South and $226 plus in the North coming off a light trade yesterday. Tuesday, live southern deals came in $1 lower than last week’s weighted averages at $137; Northern dressed business ranged from $224 to $227 but was mostly on the lower end of that range.

Boxed beef is mixed at midday, choice is $.35 lower at $263.30 and select is $.29 higher at $245.64. The choice/select spread is $17.66.

At the McCook Livestock Auction in Nebraska, compared to last week, steers from 800 to 850 pounds sold $3 higher. USDA says demand was good on moderate steer supply and light heifer supply. Feeder supply included 97 percent steers and 94 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers weighing 828 pounds brought $165.25 and feeder steers at 884 pounds brought $160.35. Medium and Large 1 feeder heifers weighing 586 pounds brought $158 and feeder heifers at 653 pounds brought $147.

Hogs are higher at midday. Weekly estimated average weight for pigs dropped this week. Down nearly three pounds at $283.5. Demand for US pork on the global market has overall been very strong, helping provide price support.  But there are long-term concerns that create uncertainty in the market.  The industry continues to monitor the availability of market-ready hogs.  And processors are moving their desired numbers without having to get too aggressive in their procurement efforts.

Barrows and gilts at the national Daily Direct are $.57 higher at midday with a base range of $100 to $116.50 making a weighted average of $111.96. The Iowa/ Minnesota and Eastern Cornblelt were not reported at midday due to confidentiality; the Western Cornbelt is $4.40 higher at $115.80.

Butcher hogs at the Midwest cash markets are steady at $70.

At Illinois, slaughter sow prices were $1 lower with moderate to light demand for moderate to light offerings and a price range of $46 to $58. Barrows and gilts were steady, with light to moderate demand for light to moderate offerings ranging from $65 to $74.

Pork values are lower at midday, down $1.06 at $107.18. Loins and hams are higher. Bellies are down nearly $14; Ribs are more than $8 lower; Butts and picnics are also lower.