Midday cash livestock markets
June 4, 2020 By Meghan Grebner Filed Under: Livestock, Livestock Markets, Livestock Markets, Market News, Market News
Direct cash cattle trade activity is slow to develop today following multiple days of light to moderate trade. There are a few bids on the table in Nebraska at $175 dressed and in Kansas at $105 live. But asking prices have been hard to find. Light to moderate business has developed every day this week, and the ranges have been wide. North dressed deals ranged from $173 to $187 and Southern live business has had a full range of $110 to $118. It’s quite possible the bulk of this week’s trade is over, but we could still see some cleanup business surface.
Boxed beef is sharply lower at midday on light demand for
moderate offerings. Choice is $19 lower
at $276.90 and Select is $11.82 lower at $264.96. The Choice/Select spread is $11.94.
At the Hub City Livestock Auction in South Dakota, compared
to last week, the best test was on steers and they were steady to $3
higher. That came on steers 700 to 750-pounds,
800 to 850-pounds, 950 to 1000-pounds, and 1050 to 1100 pounds. Heifers were not well compared for an
accurate trend. The USDA says demand was
moderate to good for the week’s large offering.
Quality was more varied this week and was anywhere from plain to
attractive. Flesh was similar to last week
with most of the offering in moderate to moderate-plus flesh. The market was fairly active. Receipts were down slightly on the week but
up on the year. Feeder supply included 73
percent steers and 87 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 809 to 849
pounds brought $134 to $142.50 and feeder steers 959 to 994 pounds brought $114
to $123. Medium and Large 1 feeder
heifers 605 to 647 pounds brought $135 to $145.75 and feeder heifers 862 to 896
pounds brought $112.75 to $118.50.
Cash hogs opened weak with fairly strong negotiated numbers. Processors continue to increase chain speed and that’s helping to slow the backlog of hogs. However, they’re still not at pre-coronavirus pandemic levels and it’s difficult to work through that backlog in the supply chain. Processors are still facing heavy supplies of market-ready barrows and gilts and trying to balance that with available shackle-space and labor. There’s been concern demand for US pork on the global market could suffer as trade tension with China continues to rise. Barrows and gilts at the National Daily Direct opened $.87 lower with a base range of $28 to $35.12 for a weighted average of $32.92. Prices at the regional direct markets were not reported at midday due to confidentiality.
Butcher hog prices are steady at midday at $20. At Illinois, slaughter sow prices were steady with moderate demand for light to moderate offerings at $7 to $20. Barrow and gilt prices were steady with light demand for heavy offerings at $16 to $20. Boars ranged from $1 to $5.
Pork values are sharply higher at
midday – up $4.02 at $79.03. Hams jumped
more than $18 to start the day. Bellies
and picnics were also sharply higher.
Ribs were weak and loins and butts were sharply lower.
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