Market News

Midday cash livestock markets

There’s some scattered direct cash cattle trade taking place in Nebraska at midday.  Live deals are at $100 and dressed deals are at $160.  That’s fully steady with Wednesday’s business.  There are some bids in Colorado at $98 live.  The rest of cattle country is pretty quiet.  Asking prices are firm at $98 to $100 live in the South and $162 dressed in the North.  Look for more business to develop as the day progresses. 

Boxed beef is steady to higher at midday on moderate demand for light to moderate offerings.  Choice is $.17 higher at $201.28 and Select is $2.05 higher at $191.54.  The Choice/Select spread is $9.74. 

At the Huss Livestock Market in Nebraska, compared to two weeks ago, steers under 800 pounds were $3 to $5 higher and steers over 800 pounds were $1 to $3 higher.  Heifers from 650 to 800 pounds were $5 to $7 higher.  The USDA says demand was good from start to finish.  Most cattle came off of summer grass.  Receipts were up on the week and the year.  Feeder supply included 74 percent steers and 94 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 884 to 899 pounds brought $135 to $139.60 and feeder steers 903 to 922 pounds brought $137.25 to $139.50.  Medium and Large 1 feeder heifers 701 to 745 pounds brought $139.75 to $142.50 and feeder heifers 755 to 797 pounds brought $136 to $138.75. 

Cash hogs opened lower with moderate negotiated numbers.  Packers have been aggressive in their procurement efforts this week.  Supplies of market-ready barrows and gilts are ample and with daily slaughter totals that continue to rise, that’s adding more pork to the market.  But demand remains uncertain and it’s putting pressure on prices.  Another solid export sales report this week, with purchases coming primarily from Mexico and China.  Overall, that should help provide some price support.

Barrows and gilts at the National Daily Direct are $1.16 lower at midday with a base range of $37 to $41.80 for a weighted average of $41.04; the Iowa/Minnesota is $1.98 lower at $39.89; the Western Corn Belt is $2.06 lower for a weighted average of $39.81.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $24. 

At Illinois, slaughter sow prices were steady with moderate to good demand for moderate offerings at $10 to $22.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $19 to $28. 

Pork values are lower at midday – down $.98 at $66.93.  All of the primals were lower, except the bellies which were nearly $9 higher.