Market News

Midday cash livestock markets

A very light direct cash cattle trade has been reported.  Deals in Kansas are at $100 live, that’s $3 higher than last week’s weighted averages.  Asking prices are at $100 to $102 live in the South and $165 dressed in the North.  Look for at least some business to develop about every day this week. 

Boxed beef is steady at midday on moderate demand for light to moderate offerings.  Choice is $.22 higher at $204.88 and Select is $.15 lower at $190.25.  The Choice/Select spread is $14.64. 

At the close at the Joplin Regional Stockyards, compared to last week steer calves were full steady, yearling steers were steady, heifers under 700 pounds were steady to $3 higher, and heifers over 700 pounds were steady.  The USDA says demand was moderate to mostly good and supply was moderate to heavy.  Receipts were up on the week and the year as many producers took advantage of the cooler weather to haul cattle with minimal stress.  Feeder supply included 59 percent steers and 59 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 648 pounds brought $146 to $158 and feeder steers 801 to 839 pounds brought $135 to $142.85.  Medium and Large 1 feeder heifers 550 to 599 pounds brought $135 to $145 and feeder heifers 708 to 749 pounds brought $126 to $134.50. 

Cash hogs opened mixed with light to moderate negotiated numbers.  Supply and demand continue to be the biggest driver behind the market.  The availability of market-ready barrows and gilts combined with slaughter totals that are at or above year-ago and pre-COVID-19 levels are adding more pork to the market.  The large slaughter runs are also helping processors tap into the backlog of hogs in the supply chain.  But, this increase in pork is coming at a time when demand, both globally and domestically, are battling uncertainty.  Strength is needed in both to provide price support to the hog market.    

Barrows and gilts at the National Daily Direct are $.37 lower at midday with a base range of $39 to $40 for a weighted average of $39.93 and the Western Corn Belt is $.35 higher at midday for a weighted average of $39.90.  The Eastern Corn Belt and the Iowa Minnesota 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 good demand for heavy offerings at $10 to $22.  Barrow and gilt prices were weak with good demand for moderate to heavy offerings at $19 to $28.  Boars ranged from $1 to $3. 

Pork values are steady at midday – down $.06 at $66.72.  Bellies and picnics were lower.  Ribs were steady.  Hams, loins, and butts were all higher.