Market News

Midday cash livestock markets

Direct cash cattle trade activity is relatively quiet.  The lone bid that has surfaced is in Kansas at $118 to $119 live.  Some southern asking prices have been noted around $123 live, while the rest of cattle country remains quiet.  The wide spread between the starter bid and asking prices in the South early on will likely help keep any significant trade volume muted until the end of the week. 

Boxed beef opened steady to weak with moderate demand for moderate offerings.  Choice is $.50 lower at $208.41 and Select was unchanged at $203.70. 

At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers and heifers under 600 pounds were steady to $5 higher, 600 to 700-pound steers were unevenly steady, and 600 to 700-pound heifers were steady to $2 higher.  Steers and heifers over 700 pounds were $2 to $3 lower.  The USDA says demand for calves was good, it was moderate for yearlings and supply was moderate.  Receipts of 4,817 were down on the week and up on the year.  Feeder supply included 58 percent steers and 45 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 550 to 596 pounds brought $150 to $178.50 and feeder steers 651 to 696 pounds brought $138 to $152.  Medium and Large 1 feeder heifers 552 to 597 pounds brought $135 to $152 and feeder heifers 601 to 645 pounds brought $129 to $141. 

Cash hogs opened mixed with moderate negotiated purchases.  The market continues to follow the supply and demand news.  The industry has been expecting pretty aggressive purchases from China for the country to meet their pork and protein needs, but that have been lackluster.  The spread of the coronavirus isn’t helping to boost demand.  At the same time, supplies of ready barrows and gilts are more than ample and that isn’t expected to slow any time soon.  One other positive note is that domestic demand has remained relatively strong to start the year.  Barrows and gilts at the National Daily Direct opened $.86 higher with a base range of $44 to $51.66 for a weighted average of $50.80, the Iowa/Minnesota opened $1.19 lower for a weighted average of $47.84; the Western Corn Belt opened $1.05 lower for a weighted average of $57.81.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest Cash markets are steady at $36. 

At Illinois, slaughter sow prices were firm with good demand for heavy offerings at $14 to $25.  Barrow and gilt prices were steady with moderate demand for moderate offerings at $28 to $36.  Boars under 300 pounds brought $14 to $18 and boars over 300 pounds brought $5 to $7.   

Pork values opened weak – down $.52 at $64.50.  Bellies, ribs, butts, and hams were all lower.  Loins were steady.  Picnics closed higher.