Market News

Midday cash livestock markets

A very light direct cash cattle trade has been reported to start the day.  Dressed deals in Nebraska at $190, fully steady with the top of last week’s business.  A few asking prices in the South have been reported at $120 live.  Last week’s business happened a little at a time and we saw a huge range of prices.  Dressed deals in Nebraska ranged from $175 to $190 and Iowa ranged from $174 to $190.  Live prices in Kansas ranged from $114 to $120 and Texas had a full range of $110 to $120. 

Boxed beef is sharply lower at midday on light demand for moderate to heavy offerings.  Choice is $10.73 lower at $386.01 and Select is $9.62 lower at $364.56.  The Choice/Select spread is $21.45. 

In South Dakota last week, feeder steers were steady to $4 higher with a few instances of $5 higher.  Feeder heifers were mostly steady.  There was a very good demand for lightweight calves and yearlings, moderate to good demand for backgrounded yearlings for finishing.  Auctions were active to very active as many buyers were looking to buy light cattle to feed or run on grass.  Receipts were down slightly on the week, but up on the year.  Feeder supply included 52 percent steers and 88 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 700 to 749 pounds brought $137.50 to $155.50 and feeder steers 801 to 842 pounds brought $127.75 to $142.50.  Medium and Large 1 feeder heifers 751 to 795 pounds brought $114 to $133.50 and feeder heifers 903 to 945 pounds brought $106 to $112.25. 

Cash hogs are sharply lower at midday following the long holiday weekend.  Supplies of market-ready hogs are heavy and the supply chain is still struggling to balance the available market-ready hogs, the backlog of hogs in the supply chain, and the available shackle space.  That’s not an easy task right now.  It will be interesting to see how active processors were on Monday’s holiday as there continues to be incentive to return slaughter totals to near pre-COVID-19 levels.  Barrows and gilts at the National Daily Direct are $2.61 lower with a base range of $32 to $39 for a weighted average of $36.20; the Iowa/Minnesota is $5.68 lower for a weighted average of $34.42; the Western Corn Belt is $5.84 lower for a weighted average of $34.42; the Eastern Corn Belt had no comparison but a weighted average of $36.67. 

Butcher hog prices at the Midwest cash markets are steady in Dorchester, Wisconsin at $20. 

At Illinois, slaughter sow prices were steady with light to moderate demand for heavy offerings at $7 to $20.  Barrow and gilt prices were firm with moderate demand for heavy offerings at $16 to $20.  Boars ranged from $1 to $5. 

Pork values are sharply higher at midday – up $10.06 at $106.81.  Bellies jumped more than $56 and hams are up $16.12.  Butts are also higher.  Picnics, ribs, and loins are all sharply lower. 

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