Market News

Midday cash livestock markets

The cash cattle market hasn’t seen any renewed bids develop.  It’s possible there could be some clean up trade that develops throughout the day, but it’s expected that there won’t be much interest from packers.  Throughout the week, Northern cattle traded for $245 dressed, which is $3 higher than last week’s weighted average.  Southern live cattle traded for $154 to $155, which is roughly $4 higher than last week’s weighted average. The USDA says beef export sales fell short of 13,000 tons, modestly lower than the previous week, with South Korea and China buying about two thirds of the week’s total. Sales for delivery next year were 4,000 tons, mostly to South Korea and Taiwan.

Boxed beef is mixed with Choice down $.61 at $251.95 and Select $2.60 higher at $253.93.  The Choice/Select spread is $16.02.

At the Tri-State Livestock Auction in McCook, Nebraska, compared to last week, on comparable offerings steers and heifers sold $3 to $5 higher.  The USDA says demand was good.  Receipts were up on the week and year. 50 percent of the offering was feeder steers and the 23 percent of the feeder cattle supply was over 600 pounds. Medium and Large 1 Feeder Steers 527 to 539 pounds brought $205 to $223 with an average price of $213.26 and feeder steers 658 to 667 pounds brought $171 to $180.50 with an average price of $177.76. Medium and Large 1 Feeder heifers 543 ponds brought $174 and feeder heifers 898 pounds brought $172.

Cash hogs opened lower.  The bulk of the week’s business was done ahead of the Thanksgiving holiday earlier this week.  Processors have not had to work hard to meet their procurement efforts.  Demand for US pork remains strong despite concerns about a slowing global economy.

Barrows and gilts at the National Daily Direct opened $.11 lower with a base range of $81 to $87.50 with a weighted average price of $81.95.  The regional markets did not report due to confidentiality reasons. Pork export sales of 45,800 tons were up sharply on the week, mainly to Mexico and Japan. Sales of 4,400 tons for 2023 delivery were primarily to Canada. At Illinois, slaughter sows…

Butcher hog sales were closed in Wisconsin and Iowa this week.

Pork Values opened $1.82 lower at $87.54.  Picnics and bellies are sharply lower with ribs lower.  Loins, butts and hams all higher.