Market News

Midday cash livestock markets

Another quiet start for direct cash cattle trade following the light to moderate business that took place on Wednesday.  Bids have surfaced at $155 live in the South and $245 to $246 dressed and $157 live in the North.  So far there’s been no bites.  Asking prices are around $157 live in the South and $250 to $252 dressed in the North.  It’s been quiet in the North so more business still needs to take place.  Deals on Wednesday took place in the South and were at $155 live, fully steady with the prior week’s weighted averages. 

Boxed beef is higher at midday on solid demand for moderate offerings.  Choice is $.23 higher at $255.11 and Select is $1.97 higher at $226.98.  The Choice/Select spread is $28.13. 

At the Hub City Livestock Auction in South Dakota, compared to two weeks ago steer calves 450 to 600 pounds were $7 higher, steers 601 to 700 pounds were $10 to $12 higher, and the best test on yearling steers was 950 to 1000 pounds and they were steady.  Heifer calves 400 to 550 pounds were $10 to $12 higher, heifers 551 to 600 pounds were mostly steady, and the best test on yearling heifers was 900 to 950 pounds and they were steady with spots of $6 higher.  The USDA says demand was good to very good for both yearlings and calves.  Quality varied, but many were plain to average and flesh ranged from moderate to heavy.  Most calves were fully preconditioned with at least a full round of fall shots.  Quality on calves was mostly average to attractive.  The market was active and improved through out the day.  Receipts were up from two weeks ago and on the year.  Feeder supply included 56% steers and 52% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 595 pounds brought $203.50 to $223 and feeder steers 951 to 974 pounds brought $174.75 to $180.25.  Medium and Large 1 feeder heifers 500 to 543 pounds brought $187 to $204.50 and feeder heifers 552 to 594 pounds brought $176.50 to $190. 

Cash hog prices have been delayed due to technical issues at the USDA’s Ag Marketing Service.  It was a big day on Wednesday with processors bidding up to move huge, negotiated numbers.  It’s likely they’ll back off throughout the rest of the week and will be able to move their needs at lower prices.  The industry continues to monitor the availability of market-ready hogs and the demand situation.  If demand were to wane due to a slowing global economy, it could put additional pressure on prices.   

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were $1 lower with moderate demand for moderate offerings at $45 to $56.  Barrows and gilts were steady with moderate demand for moderate offerings at $58 to $68.  Boars ranged from $30 to $35 and $9 to $19.    

Pork values are firm at midday – up $.28 at $87.61.  Hams, ribs, butts, and loins are all higher.  Bellies and picnics are sharply lower.