News

Monday midday cash livestock

It’s a typically quiet Monday at the major direct cash cattle markets with both sides taking a look at the early week offerings. With New Year’s Eve up Friday, there may be some trade over the next few days, especially taking into account last week’s surprise strength. Asking prices are around $105 to $107 on the live basis and $168+ dressed and overall, the new offering should be a little smaller than last week, particularly in Nebraska. Still, movement could be slowed by the questions over beef demand and poor processing margins.

Boxed beef cutout values at midday were firm to sharply higher with Choice up $1.67 at $160.59 and Select $.35 higher at $152.99.

Cash hog business has is steady to higher There were still some plants looking for supplies late last week so some appear to be starting this week off pretty close to the knife. At the open, the Eastern Cornbelt is up $1.56 with a weighted average of $68.71, the Western Belt is $1.08 higher at $68.74 and Iowa/Southern Minnesota is $.71 higher at $68.74. Butcher hogs at the terminals are steady to $2 higher with tops at $44.50 to $48. Missouri Direct butchers are steady to $1 higher at $62 to $64 with sows steady to $1 higher at $39 to $47. Illinois direct sows are steady at $39 to $46 with boars at $10 to $30.

Pork trade at midday was very slow with light to moderate demand and offerings.