Market News

Midday cash livestock markets

Light to moderate trade reported yesterday with a range of $115 to $118.  The majority of trade in Kansas was at $116, which is a dollar lower than last week.  There was very little trade in Texas and Nebraska’s live trade was limited to the eastern and western part of the state.  The range was $116 early to $118 later in the day – $1 lower to $1 higher than last week’s weighted average.  Packer inquiry is expected to improve today or even tomorrow.  Asking prices are $120 in the South and $190 in the North.

Boxed beef is trading slightly higher.  Choice is up $.19 at $205.25 and Select is up $.47 at $197.89 on light to moderate movement.

At the feeder cattle auction in El Reno, Oklahoma receipts totaled 5,835 down about 1,400 on the week.  Feeder steers traded $2 to $4 higher and heifers were steady on limited offerings.  The USDA says demand was moderate to good with quality plain to attractive.  Sixty-six percent of the offering was steers and supply over 600 pounds was 85 percent.  Medium and large 1 steers 600 to 700 pounds ranged $162.50 to $165 and 800 to 800 pound steers brought $139.75 to $150.00.  Medium and Large 1 heifers 600 to 700 pounds brought $141.50 to $147.50 and 800 to 900 pound heifers brought $131.25 to $133.75.

Cash hogs are trading mostly lower.  Packer margins remain decent and that should help to keep chain speed moving – even if there are some uncertainties about the expansion of market ready numbers. Barrows and gilts at the Iowa/Southern Minnesota direct were not reported due to confidentiality; trade at the Western Corn Belt is down $.75 with a range of $73.00 to $81.50 and a weighted average of $75.50; there is no comparison in the Eastern Corn Belt however, the range is $77.92 to $78.50 and a weighted average of $78.08; at the national daily direct barrows and gilts are down $1.53 with a range of $73.00 to $81.50 and a weighted average of $78.37.

Butcher hogs at the Midwest cash markets are trading steady at $52 to $60.

The pork cutout is down $.59 at $96.27 with gains in butts and bellies canceled out by losses in the picnic, ribs, and hams.

USDA says the both the supply and demand are light to moderate at the Interior Missouri Direct.  Barrows and gilts are steady with a base price of $75, sows are steady with a range of $55 to 70.

At the Illinois Direct sows are steady and USDA says there is very good demand on moderate offerings.  Light to moderate demand for moderate offerings and barrows and gilts are $1 lower with a range of $48.00 to $56.00