Market News

Midday cash livestock markets

Most of the major direct cash cattle markets are quiet, but some light business is being reported at $188 on the dressed basis in Nebraska and Iowa, around $2 lower than last week’s weighted average. Very light live business in Colorado at $118 is pretty much steady. Wednesday, live business in Nebraska was reported at $117.50, down $1.50 from a week ago. The South continues to be very quiet with asking prices of $120 on the live basis and bids at $117.

Boxed beef at midday was lower. Choice was down $1.75 at $220.83 and Select was $1.02 lower at $204.30.

Major USDA reported feeder cattle auctions are scarce as many operations took an extended 4th of July holiday. At the Greenville Livestock Auction in Illinois, the only reported classes were slaughter cattle and slaughter Holsteins. No price comparison was offered, but trade was active with moderate to good demand. 1,135 to 1,295 slaughter steers brought $118 to $124 and 1,300 to 1,460 pounders also ranged from $118 to $124. 1,010 to 1,195 pound slaughter heifers sold at $117 to $123 and 1,200 to 1,370 pound heifers were also reported at $117 to $123. Slaughter Holstein steers weighing 1,300 to 1,495 pounds were pegged at $94 to $101. Slaughter Holstein heifers only made up 3% of the daily run.

Cash hogs are mixed. Buyers are expected to bid up again to get the needed numbers, but, seasonally, supplies are due to start expanding in the next few weeks. Pork demand continues to be good and heat in some key production areas has limited weight gains, but an increase in market ready numbers and the corresponding increase in pork supplies would blunt some of that demand impact.

National direct business opened $1.30 lower at $83 to $86.50 for a weighted average of $85.68. Opens at the Iowa/Southern Minnesota, the Western Cornbelt, and Eastern Cornbelt markets not reported due to confidentiality. Butcher hogs at the Midwest cash markets are steady at $57 to $60. Missouri direct butchers are steady to $3 higher at $81 to $82 on light to moderate supply and demand. Sows are steady at $40 to $47. Illinois direct sows are $2 higher at $49 to $63 with very good demand for heavy offerings. Barrows and gilts are steady at $57 to $62 with good demand for moderate offerings. Illinois boars range from $10 to $40.

Pork at midday was up $.44 at $104.85. Butts, ribs, and hams were lower, while loins, picnics, and bellies were higher.