Market News

Midday cash livestock markets

Direct cash cattle markets are quiet, with business probably delayed until after the USDA’s cattle on feed and inventory reports. Asking prices are $120 to $122 on the live basis in the South and $190 to $192 dressed in the North, with bids at $118 live and $188 dressed. The major on feed categories are all expected to be up on the year. The USDA didn’t release a cattle inventory report last summer, but the total U.S. herd as of July 1st is expected to be around 101.5 million head. The numbers are out at 3 Eastern/2 Central.

Boxed beef at midday was lower, with Choice down $.74 at $206.91 and Select $.99 lower at $194.59.

At the Valentine Livestock Auction feeder cattle sale in Nebraska Thursday, compared to two weeks ago, 700 to 950 pound steers were unevenly steady, with no comparable heifer offering. The USDA says demand was good and feeders made up the entirety of the offering. 76% of the feeders were steers and 98% of the run weighed more than 600 pounds. Medium and Large 1 720 to 790 pound feeder steers sold at $164 to $173.50 and 800 to 900 pounders ranged from $150 to $167.25. Medium and Large 1 600 to 680 pound feeder heifers brought $160 to $150.75 and 700 to 800 pound heifers were reported at $147.50 to $157.75.

Cash hogs are steady to lower. Buyers have successfully lowered prices this week, improving their processing margins, while moving the needed numbers. Saturday’s slaughter is expected to be roughly 50,000 head, which would put the weekly kill at nearly 2.2 million head. The USDA reported pork and red meat production during June were new all-time highs for the month, with cold storage numbers out Monday afternoon.

Iowa/Southern Minnesota direct barrows and gilts opened $1.46 lower at $78 to $84.50 for a weighted average of $83.39, the Western Cornbelt is also down $1.46 at $78 to $84.50 with an average of $83.39, and national direct business is $1.14 lower at $78 to $84.50 for an average of $83.07. Butcher hogs at the Midwest cash markets are $2 lower at $56 to $60. Missouri direct butchers are steady at $80 to $81 on light demand for a moderate supply. Sows are steady at $48 to $64.

Pork at midday was $1.07 lower at $102.95. Hams and bellies were firm, all other primals were down sharply.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!