Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet to start the week.  Bids and asking prices have yet to surface.  If this week follows the trend of recent weeks, look for business to start to develop early in the week with light to moderate trade just about every day.  Last week business started on Tuesday and Northern dressed deals had a full range of $160.50 to $169, mostly $163, about $3 higher than the previous week’s weighted averages.  Live deals ranged from $99 to $101, mostly $100, also about $3 higher than last week’s weighted averages. 

Boxed beef is higher at midday with good demand for light to moderate offerings.  Choice is $1.46 higher at $206.93 and Select is $1.12 higher at $193.87.  The Choice/Select spread is $13.06. 

In South Dakota last week, feeder steers and heifers were steady to $5 higher with instances of $6 to $7 higher on steers 900 to 950 pounds.  The USDA says demand was very good for yearlings.  With some stabilization in the cash fed cattle market, there has been increased interest in feeding yearlings.  Receipts are up on the week and the year.  Feeder supply included 65 percent steers and 94 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 700 to 742 pounds brought $145 to $163 and feeder steers 851 to 897 pounds brough $133.50 to $146.50.  Medium and Large 1 feeder heifers 600 to 647 pounds brought $144 to $163 and feeder heifers 850 to 846 pounds brought $123.50 to $136.75.   

Cash hogs opened firm with strong negotiated numbers.  Demand uncertainty remains, especially domestically as concerns about the economy are ongoing.  Global demand has been relatively strong, but has been very reliant on China.  At the same time, supplies of market-ready barrows and gilts are higher and processors keep pushing daily slaughter totals higher, adding more pork into the market.  Barrows and gilts at the National Daily Direct are $.54 higher at midday with a base range of $37 to $38.81 for a weighted average of $38.73.  Prices at the regional direct markets were not reported due to confidentiality.   

Butcher hog prices at the Midwest cash markets are steady with last week at $24. At Illinois, slaughter sow prices were steady with moderate to good demand for moderate to heavy offerings at $11 to $23, and barrows and gilts were steady with moderate demand for moderate to heavy offerings at $19 to $24.  Boars ranged from $1 to $3. 

Pork values are sharply higher at midday – up $3.52 at $75.45.  Bellies and hams are sharply higher.  Butts are firm.  Loins, picnics and ribs are weak.