Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start for the holiday-shortened week.  Bids and asking prices are not yet established.  If this week follows the recent trend, look for another week of light to moderate business just about every day.  Last week Northern dressed deals ranged from $152 to $155 and Southern live business ranged from $93 to $97.  The weighted average last week in Kansas was $100.87; it was $100.30 (live) and $160.48 (dressed) in Nebraska; the weighted average for Texas was $100.98; Iowa’s weighted average of $101.09 (live) and $161.07 (dressed).

Boxed beef is higher at midday on good demand for light to moderate offerings.  Choice is $2.03 higher at $209.20 and Select is $1.49 higher at $200.34.  The Choice/Select spread is $8.86. 

In South Dakota last week, feeder steers and heifers were steady to $2 higher with a few instances of $3 to $5 higher on light-fleshed heifers.  The USDA says demand was good for yearling steers and heifers.  There were long strings offered and the market was very active.  Receipts were up on the week, but lower on the year.  Feeder supply included 56 percent steers and 91 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 803 to 846 pounds brought $127 to $146.50 and feeder steers 900 to 943 pounds brought $108 to $128.75.  Medium and Large 1 feeder heifers 753 to 795 pounds brought $116 to $129.50 and feeder heifers 805 to 849 pounds brought $116 to $124.25. 

Cash hogs opened firm with moderate negotiated numbers.  Processors were a little more aggressive to start the day.  Supply and demand will continue to be the driving force behind the markets.  Supplies of market-ready hogs are more than ample, but a sluggish economic recovery could put some pressure on the demand picture and that would not be supportive to prices.  The industry also continues to look at global demand as the US remains well-positioned to meet the world’s pork and protein needs.  Barrows and gilts at the National Daily Direct are $.41 higher at midday with a base range of $24 to $30.13 for a weighted average of $28.94.  Prices at the regional direct markets were not reported due to confidentiality. 

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

Pork values are higher at midday – up $3.58 at $69.53.  Bellies were nearly $23 higher at midday.  Butts, ribs, and loins were all higher.  Hams were steady.  Ribs were sharply lower.