Market News

Midday cash livestock markets

There’s a light direct cash cattle trade underway in Texas.  Live deals are at $95, that’s fully steady with last week’s weighted averages.  The rest of cattle country is quiet.  Asking prices are around $100 plus live in the South and $162 plus in the North.  Bids are elusive.  Look for more trade to develop over the balance of the week. 

Boxed beef is steady to lower at midday on light demand for light to moderate offerings.  Choice is $2.47 lower at $200.79 and Select is $.10 lower at $191.78.  The Choice/Select spread is $9.01. 

At the Joplin Regional Stockyards in Missouri, compared to last week steer and heifer calves under 500 pounds were steady to $5 lower and calves over 500 pounds and yearlings were steady, except 750 to 850 pounds steers which were steady to $3 higher.  The USDA says demand was moderate to good and supply was moderate to heavy.  Receipts were up on the week and the year.  Feeder supply included 50 percent steers and 55 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 648 pounds brought $140 to $154 and feeder steers 806 to 827 pounds brought $134 to $137.  Medium and Large 1 feeder heifers 556 to 598 pounds brought $131 to $139 and feeder heifers 619 to 647 pounds brought $130 to $135.50. 

At the Manchester Livestock Auction in Iowa, beef steers and heifers were $3 higher.  Holstein steers were steady.  High-yielding prime & choice steers brought $99 to $103.50 and heifers brought $99 to $103.75.  Holstein steers brought $85 to $87.25. 

Cash hogs opened firm with light negotiated purchases.  Processors have been able to push daily slaughter totals closer to pre-COVID-19 levels.  That’s good news as supplies of market-ready hogs are more than ample.  But it’s also adding more pork to the market.  The industry continues to face demand uncertainty both domestically and globally.  And for prices to turn around demand needs to remain strong.  Barrows and gilts at the National Daily Direct are $.27 higher at midday with a base range of $29 to $35 for a weighted average of $30.72.  Prices at the regional direct markets were 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 steady with good demand for heavy offerings at $9 to $20.  Barrow and gilt prices were firm with good demand for moderate to heavy offerings at $14 to $22.  Boars ranged from $2 to $5. 

Pork values are firm at midday – up $.58 at $68.10.  Ribs are sharply higher.  Bellies, butts, and loins are all higher.  Picnics and hams are lower to sharply lower.