Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet at midday.  Bids and asking prices have yet to be established.  Showlists are mixed this week, higher in Texas, but lower in Kansas and Nebraska/Colorado.  Significant trade volume will likely be delayed until at least midweek or later.

Boxed beef is sharply higher and higher at midday on good demand for solid offerings.  Choice is $3.69 higher at $299.62 and Select was $.74 higher at $292.61.  The Choice/Select spread is $7.01. 

At the Callaway Livestock Center in Missouri, steer calves 400 to 450 pounds were mostly $10 to $15 higher, calves 450 to 500 pounds were steady to firm, steers 500 to 550 pounds were firm to $5 higher, steers 550 to 600 pounds were $5 to $10 higher, steers 600 to 650 pounds were lightly tested.  Feeder heifers 400 to 600 pounds were $5 to $10 higher with a potload of top-quality heifers at 616 pounds selling with a higher undertone.  The USDA says demand was good on a moderate supply.  There was a nice quality offering of steer and heifer calves weighing 400 to 600 pounds that sold on an active market.  Receipts were down on the week and the year.  Feeder supply included 57% steers and 34% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 543 pounds brought $317 to $349 and feeder steers 553 to 594 pounds brought $306 to $331.  Medium and Large 1 feeder heifers 454 to 492 pounds brought $302.50 to $317 and feeder heifers 616 brought $276.25. 

Cash hogs had no comparison at midday with fairly light negotiated purchases.  The cash hog market started the week on a positive note.  Packers are trying to maintain a higher slaughter pace to meet the needs and have been more aggressive in their procurement efforts.  Demand for U.S. pork on the global market has been strong and domestic demand has continued to push higher as summer grilling season is just around the corner.  The industry continues to monitor the availability of market-ready hogs and hog weights. Barrows and gilts at the National Daily Direct had a base range of $90 to $92 and a weighted average of $91.01.  Prices at the Regional Direct Markets were not reported due to confidentiality.   

Butcher hog prices at the Midwest cash markets are steady at $52. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $45 to $57.  Barrows and gilts were steady with moderate demand for moderate offerings at $51 to $61.  Boars ranged from $18 to $28 and $8 to $15.

Pork values were sharply lower at midday – down $3.39 at $98.31.  Bellies dropped more than $29 to start the day.  Ribs were also sharply lower.  Picnics were lower.  Butts, hams, and loins were all higher.