Market News

Midday cash livestock markets

There is a very light direct cash cattle trade that’s being reported at midday. Dressed deals in Nebraska are at $157, that’s $3 higher than last week’s weighted averages.  Bids and asking prices in the rest of cattle country are still hard to find.  There were a handful of deals reported in Kansas yesterday at $93 to $95 and some in Nebraska at $160.  Neither are really enough business to establish a trend for the week. 

Boxed beef is firm at midday on moderate demand for light offerings.  Choice is $.58 higher at $206.04 and Select is $.89 higher at $197.86.  The Choice/Select spread is $8.18. 

At the Joplin Regional Stockyards in Missouri, compared to last week steers and heifers were steady to $3 higher.  The USDA says demand was good and supply was moderate.  Receipts were down on the week and up on the year.  Feeder supply included 55 percent steers and 41 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 555 to 598 pounds brought $146.50 to $154 and feeder steers 658 to 686 pounds brought $140 to $147.  Medium and Large 1 feeder heifers 550 to 599 pounds brought $131 to $138 and feeder heifers 669 to 699 pounds brought $124 to $133.75. 

Cash hogs are firm to sharply higher at midday with solid negotiated numbers.  The industry is optimistic that demand could continue to pick up both domestically and globally.  That’s good news and supplies of market-ready hogs are ample and packers are pushing slaughter totals closer to near pre-COVID-19 levels.  While the supply chain is running, processors still have a long way to go before they’ve fully worked through the backlog of hogs caused the slowdowns in chain speed from COVID-19. 

Barrows and gilts at the National Daily Direct are $.59 higher at midday with a base range of $24 to $30.18 for a weighted average of $29.11; the Iowa/Minnesota is $1.62 higher for a weighted average of $29.08; the Western Corn Belt is $1.52 higher for a weighted average of $28.98.  The Eastern Corn Belt was not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $20. 

At Illinois, slaughter sow prices were steady with moderate demand for heavy offerings at $9 to $20.  Barrow and gilt prices were weak with moderate demand for moderate to heavy offerings at $12 to $20.  Boars ranged from $2 to $5. 

Pork values are higher at midday – up $1.14 at $65.48.  Loins, picnics, butts, and bellies are all higher.  Ribs are weak and hams are lower.