Market News

Midday cash livestock markets

It’s a quiet start to Friday for direct cash cattle activity.  The bulk of the week’s business is likely wrapped up, but some cleanup business could still take place before the end of the day.  Asking prices for what’s left on showlists is around $168-plus live in the South and $273-plus dressed in the North.  Live deals in the South were marked at mostly $167, $4 higher than the prior week’s weighted averages.  Dressed sales in the North were at mostly $270 to $272, $5 to $6 higher than the previous week’s weighted averages.  There were also some deals in the North reported at $168 to $172 live, $3 to $7 above the previous week’s business. 

Boxed beef was higher at midday on solid demand for moderate offerings.  Choice was $2.45 higher at $281.65 and Select was $1.38 higher at $269.84.  The Choice/Select

At the Ogallala Livestock Auction in Nebraska, steers under 750 pounds were $5 to $10 higher, steers 750 pounds were $1 higher, and steers over 800 pounds were $2 to $3 lower.  Heifers under 700 pounds were $8 to $10 higher.  Bidders were active from start to finish on packages and loads of cattle throughout the day.  Receipts were down on the week and the year.  Feeder supply included 72% steers and 72% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 607 to 649 pounds brought $232.50 to $251 and feeder steers 700 to 749 pounds brought $195 to $215.50.  Medium and Large 1 feeder heifers 565 to 581 pounds brought $218 to $232 and feeder heifers 608 to 635 pounds brought $213 to $227. 

Cash hogs opened sharply lower with very light negotiated purchases.  Ample supplies of market-ready hogs are keeping packers in the driver’s seat.  Processors are moving their needed numbers without having to get aggressive in their procurement efforts and bid up.  While demand has held relatively strong, there are signs of challenges.  Pork values have been on the decline, weekly export sales totals were down. Barrows and gilts at the National Daily Direct are $2.41 lower with a base range of $68 to $76 and a weighted average of $73.15.  Prices at the regional direct markets were not reported at midday due to confidentiality. 

Pork values are lower – down $1 at $77.79.  Bellies dropped more than $12 to start the day.  Ribs were also sharply lower.  Butts, loins, hams, and picnics were all higher.