Market News

Midday cash livestock markets

Packer inquiry at the direct cash cattle markets is called light to moderate with business in Kansas at $133 to $134 live, about $3 to $4 lower than last week, and lighter activity in Texas at $133. Business is expected to continue to develop as the day goes on. Asking prices are reported at $138+ live and $215 to $220 dressed, with bids at $133 to $134 and $212 to $215.

Choice boxed beef at midday was unchanged at $248.17 and Select was down $.42 at $221.51.

At the Hub City Livestock Auction in South Dakota Wednesday, compared to the previous week, the best tests were on feeder steers weighing 800 to 850 and 1,000 to 1,110 pounds, all $2 to $4 higher, and heifers weighing 650 to 750 pounds, which were $1 to $2 higher, including an instance of $8 higher on 700 to 750 pounders. The USDA says the market was active and demand was good to very good for many packages and loads of steers and heifers, along with one long string of backgrounded heifers. Most of the packages were fall born calves. Flesh condition was reported as mostly moderate to moderate plus. 59% of the feeder cattle run were heifers and 92% of the total offering weighed more than 600 pounds. Medium and Large 1 800 to 850 pound steers ranged from $141 to $153.20 and Large 1 steers weighing 1,000 to 1,080 pounds brought $132.10 to $141. Medium and Large 1 920 to 950 pound heifers came out at $129.75 to $131.25 and Large 1 heifers weighing 1,020 to 1,032 pounds were reported at $130.

Cash hogs are mixed at midday. After yesterday’s mixed, just about unchanged, finish, many buyers are taking a step back, assessing market ready numbers and processing margins. USDA’s estimated slaughter numbers have generally been down on the week, but still above year ago levels.

Iowa/Southern Minnesota barrows and gilts opened $.73 lower at $67 to $72 with a weighted average of $71.26, the Western Cornbelt is down $.73 at $67 to $72 for an average of $71.25, and national direct business is $.89 lower at $67 to $72 with an average of $70.54. Butcher hogs at the Midwest cash markets are steady to $2 higher at $47 to $50. Missouri direct butchers are steady to $4 higher at $63 to $66 with supply and demand both called light to moderate. Sows are steady at $38 to $50. Illinois direct sows are weak at $40 to $52 on moderate demand for moderate to heavy offerings. Barrows and gilts are steady at $46 to $52 on good demand for moderate offerings. Illinois boars ranged from $7 to $27.

At midday, pork was $.06 lower at $87.20. Hams and loins were lower, butts held steady, bellies were firm, and picnics and ribs were sharply higher.