Market News

Midday cash livestock markets

 

Light to moderate cash cattle trade is developing with live prices about $2.00 higher than last week.  While bids are firming up in parts of the North, business has not yet developed given the higher asking prices of $172 to $174.  Look for more trade to develop before mid-afternoon as short-bought packers move to cover immediate needs.  Bids are reported at $108.00 live and $166.00 to $170.00 dressed.

Boxed beef cutout is firm at the midday with light to moderate box movement.  Choice is unchanged at $191.51 and Select is up $.09 at $188.50.

At the Ogallala Livestock Auction in Nebraska, receipts were down on the week.  The USDA says demand was good on all cattle offered.  The feeder supply included 43 percent steers and 91 percent of the offering was more than 600 pounds.  Feeder steers, Medium and Large 1’s 606 to 607-pound calves were $155.50 to $172.00 and Medium and Large 1’s 700 to 735 pounds were $160.00 to $174.50.  Feeder heifers, Medium and Large 1’s 675 to 692 pounds were $152.00 to $162.00 and Medium and Large 1’s 816 to 834 pounds were $142.75 to $143.75.

In a surprising move, cash hogs opened mostly higher. The trade continues to watch the availability of market-ready numbers – which doesn’t look to slow anytime soon.  But there is some price support in today’s firm wholesale prices at midday.  However, markets don’t always close in the same direction they open.

Barrows and gilts at the Iowa/Southern Minnesota were up $.45 with a range of $46.00 to $50.50 and an average of $49.57; the Western Corn Belt is $.58 higher with a range of $46.00 to $50.50 with an average of $49.57; the Eastern Corn Belt was not reported due to confidentiality; the National Daily Direct is $.20 lower with a range of $46.00 to $50.50 and a range of $48.65.

Butcher hogs at the Midwest cash markets are steady at $38.00 to $40.00.

At the Interior Missouri Direct, barrows and gilts are steady at $43.00 to $46.00.  The USDA says supply and demand are light to moderate.  Sows are steady, sows under 500 pounds are $20.00 to $25.00 and sows over 500 pounds are $24.00 to $30.00.  For the week barrows and gilts are $1.00 to $7.00 lower and sows are steady to $1.00 lower.

At Illinois, slaughter sow prices are weak with moderate demand for moderate offerings.  Sows are $20.00 to $32.00.  The USDA says barrows and gilt prices were weak at $30.00 to $36.00, with moderate demand for moderate offerings.

Pork value is higher at the midday, up $.59 $73.63.  The primals are mixed but strong moves higher in the ham and belly.

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