Market News

Midday cash livestock markets

It’s another fairly quiet morning for direct cash cattle trade activity as bids are slow to surface.  A few asking prices have been noted at $115 live in the South and $180 dressed in the North.  We could start to see a few deals develop today, but it’s more than likely significant trade volume will be delayed until at least midweek or later. 

Boxed beef is mixed at midday on moderate demand for moderate to heavy offerings.  Choice is $3.27 lower at $226.78 and Select is $2.73 higher at $217.76.  The Choice/Select spread is $9.02. 

At the Callaway Livestock Center in Missouri, compared to last week feeder steers 400 to 700 pounds sold $15 to $20 lower with 700 to 800 pounds steers $10 to $15 lower.  Feeder heifers 450 to 750 pounds were also $10 to $15 lower.  The USDA says both demand and supply were light to moderate.  Receipts are down on the week and the year.  Feeder supply included 62 percent steers and 41 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 691 pounds brought $127 to $131.50 and feeder steers 792 pounds brought $121.35.  Medium and Large 1 feeder heifers 508 to 528 pounds brought $129.50 to $132.50 and feeder heifers 725 pounds brought $116.25. 

Cash hogs opened steady with fairly light negotiated numbers.  Supplies of market-ready hogs are heavy and slaughter capacity is being limited as more and more COVID19 cases are being reported.  Processing at Tyson’s Columbus Junction, Iowa plant is being suspended after 24 employees have tested positive for coronavirus.  The disruption to demand because of the social distancing restrictions adds even more pressure to prices.  However, the one silver lining for the industry is the global protein picture.  Supplies are still short and as long as US production doesn’t see any serious disruptions it is well-positioned to meet the world’s pork and protein needs. 

Barrows and gilts at the National Daily Direct opened $.08 lower with a base range of $40 to $42 for a weighted average of $41.68.  Prices at the regional direct markets were not reported at midday due to confidentiality. 

Butcher hogs at the Midwest cash markets are steady at $33. 

At Illinois, slaughter sow prices were $3 to $5 lower with good demand for heavy offerings at $10 to $37.  Barrow and gilt prices were $2 lower with light demand for moderate offerings at $18 to $23.  Boars brought $5 to $15. 

Pork values opened lower down $.95 at $56.74.  Picnics were sharply lower.  Butts, loins, and hams were also lower.  Bellies and ribs were higher. 

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