Midday cash livestock markets
August 26, 2019 By John Perkins Filed Under: Livestock Markets, Market News
Direct cash cattle markets are quiet. The day’s big features will be
the full assessment of last week’s trade and the distribution of this week’s
showlist. Last week’s business was mainly at $106 live in the south, up $1 from
the previous week, and mostly $175 dressed in the north, $4.50 higher. Friday’s
USDA Cattle on Feed numbers look neutral to a little bullish because of the
lower than expected placements number. The trade agreement with Japan should be
a positive for export demand.
Boxed beef at midday was higher with moderate movement. Choice gained
$1.58 at $239.10 and Select was up $.07 at $212.78.
In Nebraska, compared to the previous week, steer calves weighing less
than 600 pounds were sharply lower in a thin test. Steers weighing more than
600 pounds were $4 lower, 700 to 800 pounders were $1 to $3 higher, and 900-pound
steers were $3 lower. Most of the heifers were down $3 on the week. The USDA
says demand was moderate to good for most classes, but receipts were about half
of the previous week’s total. Medium and Large 1 feeder steers weighing 700 to
800 pounds sold at $140.50 to $160 and 900 to 1,000-pound steers brought
$126.75 to $146. Medium and Large 1 feeder heifers weighing 600 to 700 pounds
ranged from $135 to $146 and 800 to 900-pound heifers were reported at $126 to
Cash hogs are mostly higher with a moderate opening negotiated run for
the major direct markets. Buyers want to follow through on last week’s large
negotiated runs at mostly lower prices. The trade agreement with Japan is
expected to also be a big positive for pork demand and while tensions with
China are showing signs of easing, there’s no public timeline for talks.
African Swine Fever continues to hammer China’s domestic pork production, but
they’ve been able to generally fill needs through other nations.
Pork at midday was up $.98 at $80.63. Ribs gained $9.44 and butts were
up $2.45, with loins firm and hams higher. Bellies were weak and picnics were
direct barrows and gilts opened $.28 lower at $55 to $69.50 with a weighted
average of $64.19, but Iowa/Southern Minnesota was $2.14 higher at $65.51 and
the Western Corn Belt was up $1.92 at $65.30. Butcher hog markets in
Garnavillo, Iowa and Dorchester, Wisconsin are closed this week. Illinois
direct sows are $3 to $4 lower at $24 to $35 on light demand for moderate to
heavy offerings. Barrows and gilts are $1 to $2 lower at $38 to $45 on light to
moderate demand and moderate offerings.
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