Market News

Midday cash livestock markets

Another light round of direct cash cattle trade is underway in many parts of cattle country.  Northern dressed deals are mostly at $190, fully steady with Tuesday’s business and the top end of last week’s trade.  Southern live deals are at $120, also steady with the top end of last week’s business.  Asking prices are around $120 to $125 live and $190 to $195 dressed.  Today’s Fed Cattle Exchange was a little bit of a dud, with an offering of 1,164 head with zero head sold. 

Boxed beef is lower at midday on light demand for moderate to heavy offerings.  Choice is $5.92 lower at $379.57 and Select is $7.11 lower at $352.91.  The Choice/Select spread is $26.66.

At the Ozarks Regional Stockyards in Missouri, compared to last week, steer calves less than 500 pounds were steady to weak while heavier weights and yearlings traded steady to $3 higher.  Heifer calves less than 550 pounds were $2 to $4 higher with heavier weight steady to firm. The USDA says demand was good on a heavy supply.  Receipts were down slightly from the previous week, but up on the year.  Feeder supply included 58 percent steers and 47 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 700 to 745 pounds brought $132 to $143 and feeder steers 800 to 842 pounds brought $119 to $124.25.  Medium and Large 1 feeder heifers 501 to 549 pounds brought $135 to $151 and feeder heifers 550 to 598 pounds brought $127 to $139. 

Cash hog prices were not reported at midday due to confidentiality.  There were moderate negotiated purchase numbers.  The five-day rolling average at the National Daily Direct is $36.70.  Pork processors are working to increase their slaughter capacity, but they’re still not close to pre-COVID-19 levels.  At the same time supplies of market-ready barrows and gilts are more than ample and there is still a backlog of hogs in the supply chain.  Exports were a bright spot for the US pork sector in the first quarter of the year and have the potential to remain strong for the rest of the year as global protein supplies are still short.  Hog weights dropped to 291.5 pounds, that’s a 3-pound decline from last week, but it’s still 6-pounds more than last year. 

Butcher hog prices at the Midwest cash markets are steady at $20 in Dorchester, Wisconsin. At Illinois, slaughter sow prices were steady with light to moderate demand for heavy offerings at $7 to $20.  Barrow and gilt prices were weak with moderate demand for heavy offerings at $16 to $20.  Boars ranged from $1 to $5. 

Pork values are sharply lower at midday – down $6.16 at $91.28.  Loins and ribs dropped more than $26 and $22 to start the day.  Hams were also lower.  Bellies were sharply higher.  Butts and picnics were also higher.