Market News

Midday cash livestock markets

 

Direct cash cattle trade is slow with a few scattered bids reported.  Packer inquiry will likely continue to improve over the course of the day.  However – significant trade volume could be delayed until Friday.  Asking prices are around $110 plus in the South and $174.00 in the North.  Private sources have reported bids at $106 live and $169 to $170 dressed.

Boxed beef cutout is mixed on light to moderate box movement.  Choice is firm – up $.25 at $197.66 and Select is weak – down $.33 at $189.22.  The Choice-Select spread is $8.44.

At the Hub City Livestock Auction in South Dakota receipts were up on the week.  Steers were mostly steady.  The USDA says the demand was good to very good for strings, loads, and packages of yearlings.  The quality ranged from plain to attractive.  There were also a few loads and packages of spring calves – and the USDA says the demand was good to very good.  Feeder supply included 46 percent steers and 84 percent of the offering was more than 600 pounds.  Feeder steers, Medium and Large 1 calves 657 to 667 pounds were $170.25 to $179.00 and Medium and Large 1’s 854 to 874 pounds were $156.00 to $161.75.  Feeder heifers, Medium and Large 1’s 805 to 844 pounds were $142.10 to $147.00 and Medium and Large 1’s 850 to 887 pounds were $139.00 to $148.75.

Cash hogs continue their momentum today.  Seasonally we’re headed toward continued record slaughter numbers.  And as long as packer margins continue their strength and the supply remains steady – don’t look for a reduction in chain speed, and momentum anytime soon.  Barrows and gilts at the Iowa/Southern Minnesota are up $1.11 at the midday with a range of $46.00 to $53.50 and an average of $53.11; the Western Corn Belt is up $1.11 with a range of $46.00 to $53.50 and an average of $53.11; the Eastern Corn Belt was not reported due to confidentiality; and the National Daily Direct is up $.31 at $46.00 to $53.50 and an average of $51.50.

Butcher hogs at the Midwest cash markets are steady at $31.00 to $36.00.

At the Interior Missouri Direct, barrows and gilts are steady at $40.00 to $44.00.  The USDA says both supply and demand are light to moderate.  Sows are steady – with sows under 500 pounds at $24.00 to $30.00 and sows over 500 pounds $27.00 to $35.00.

At Illinois, slaughter sows are weak at $24.00 to $33.00 with moderate demand for light to moderate offerings.

Pork is firm at the midday – up $.09 at $72.55.  The primals were mostly lower including a $3.94 drop in the belly.  However, there was strength in the ham primal – which was up $4.19 at the midday.