Market News

Cattle trade at steady to lower prices

Chicago Mercantile Exchange live cattle futures were mostly higher on tighter supply projections. Feeders were mostly weak on a lack of new buying interest. Direct cash cattle trade was mostly steady to $1 lower than last week’s trade with live business at $125 in Kansas and $126 in Texas, and on the dressed trade at $195 to $196 in Nebraska. The estimated cattle slaughter of 116,000 was 12,000 less than a week ago but 22,000 more than a year ago.

Hogs were higher on the recent solid trade in the cutout value and tighter cash supply estimates. The National Direct market closed $.07 lower with the weighted average of $78.65, the Eastern Cornbelt was up $2.56 for an average of $70.08, the Western Cornbelt was down $2.32 at $77.78, and Iowa/Southern Minnesota was $1.74 lower at $78.20. Butcher hogs at the terminals were steady at $50 to $58. Missouri Direct was steady at $73 to $76 on light to moderate supply and demand. Missouri Direct sows were unchanged at $42 to $48. Illinois Direct sows were steady at $49 to $62 on moderate demand and light offerings. The estimated slaughter of 427,000 head was down 1,000 on the week but up 39,000 on the year. The pork carcass cutout value was down $.33 at $86.63.

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