Market News

Midday cash livestock markets

A light direct cash cattle trade is underway in parts of the South.  Live deals in Texas are at $95, that’s about $6 lower than last week’s weighted averages.  Asking prices today are $98 to $100 live in the South and $160 dressed in the North.  There was another round of light to moderate trade that took place on Wednesday, Northern dressed deals were $155 to $156, that’s about $1 higher than Tuesday’s business.  Southern live business was marked at $97, roughly $4 lower than last week’s weighted averages. 

Boxed beef is lower at midday – on light demand for moderate to heavy offerings.  Choice is $1.75 lower at $207.94 and Select is $1.11 lower at $200.58.  The Choice/Select spread is $7.36.

At the Springfield Livestock Marketing Center in Missouri, compared to last week steer calves and yearlings were steady.  Heifer calves were steady to $2 higher.  The USDA says both supply and demand were moderate.  Feeder supply included 42 percent steers and 49 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 648 pounds brought $143 to $150 and feeder steers 669 to 690 pounds brought $136 to $140.50.  Medium and Large 1 feeder heifers 500 to 537 pounds brought $130 to $134.50 and feeder heifers 605 to 635 pounds brought $115 to $128. 

Cash hogs opened firm to sharply higher with solid negotiated numbers. Processors bid up in order to move their desired numbers.  As those daily slaughter totals return to more normal levels, it’s helping to keep the supply chain moving.  That’s a necessity as supplies of market-ready barrows and gilts are more than ample.  The supply and demand situation continues to be the focal point for the market.  The industry remains optimistic that demand for US pork both globally and domestically will help provide some price support.  Barrows and gilts at the National Daily Direct opened $.28 higher with a base range of $24 to $31.50 for a weighted average of $28.77; the Iowa/Minnesota jumped $2.94 at midday for a weighted average of $31.30; the Western Corn Belt is $2.96 higher for a weighted average of $31.30.  The Eastern Corn Belt was not reported at midday due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $20.  At Illinois, slaughter sow prices were $2 higher with moderate to good demand for light to moderate offerings at $9 to $20.  Barrow and gilt prices were $2 higher with moderate to good demand for moderate to heavy offerings at $12 to $20.  Boars ranged from $2 to $5. 

Pork values are firm – up $.92 at $68.60.  Picnics are sharply higher.  Loins and bellies are higher.  Butts and hams are lower.  Ribs are sharply lower.

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