Market News

Thursday midday cash livestock markets

 

At midday on Thursday, direct cattle markets are quiet. Packer inquiry should improve as the day goes on, but unless bids and asking prices come a little closer together, widespread trade may wait until Friday. Asking prices are around $163 South and $258 to $260 North. There are a few bids on the table in Kansas at $156 to $157 Live.

At the Hub City livestock auction in South Dakota, heavy weight, 800 pounds and heavier, feeder steers and heifers were well represented, with prices steady to as much as $10 higher. Demand was called good to very good for all weights of cattle and home raised replacement heifers were in high demand. Receipts were reported at 3,512 head. 900 to 950 pound feeder steers ranged from $202 to $214.25 and 950 to 1,000 pounders brought $203.10 to $208.50. A lot of 809 pound replacement heifers sold at $207. 850 to 900 pound feeder heifers ranged from $185 to $199.24 and 900 to 950 pound heifers brought $187.50 to $194.50.

Boxed beef at midday was lower. Choice beef was down $.93 at $260.18 and Select was $1.40 lower at $248.48. Cash hog trade is mostly steady in a quiet test. Country movement has been pretty slow this week, with limited negotiated receipts. So far this week, early activity has been a little thin, with packer demand improving as the day goes on. Saturday’s slaughter is expected to be around 150,000 head. The weekly slaughter is ahead of last year’s pace and tonnage is above projections, so the U.S. herd appears to be expanding faster than expected.

National Direct barrows and gilts are $.08 higher at $76.54 to $82 for a weighted average of $78.86. The Eastern Cornbelt, Western Cornbelt, and Iowa/Southern Minnesota markets were not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $53 to $55. The Missouri Direct base carcass meat price is steady at $72 to $74 on light to moderate supply and demand. Missouri sows are steady at $20 to $30.

The pork cutout at midday was down $2.44 at $84.84. Butts were firm, up $.30, but all other primals were weak to sharply lower.