Market News

Midday cash livestock markets

Direct cash cattle trade is underway.  A light trade has been reported in Kansas at $103 live, that’s $3 higher than last week’s weighted averages.   Bids have surfaced in most areas at $103 live in Kansas and $100 live in Texas.  Dressed bids are at $163 to $165 in Nebraska and $165 in Iowa.  Asking prices are around $105 live in the South and $168 dressed in the North.  If this week’s business follows the trend of recent week’s it is very likely at least some deals will be struck today.   

Boxed beef was higher at midday on good demand for light to moderate offerings.  Choice is $1.15 higher at $208.35 and Select is $2.74 higher at $196.67.  The Choice/Select spread is $11.68. 

At the Oklahoma National Stockyards, compared to last week feeder steers were steady to $3 lower, steer calves steady to $3 higher.  Feeder heifers were mostly steady to $2 lower and heifer calves were unevenly steady.  The USDA says demand was moderate to good.  Quality had a full range of plain through attractive.  Receipts were up on the week and the year.  Feeder supply included 54 percent steers and 71 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 646 pounds brought $147.50 to $159.50 and feeder steers 803 to 846 pounds brought $135.50 to $138.75.  Medium and Large 1 feeder heifers 600 to 646 pounds brought $135 to $146 and feeder heifers 659 to 698 pounds brought $134 to $144.50. 

Cash hogs opened weak with moderate negotiated numbers.  Processors continue to move big numbers with ample supplies of market-ready hogs available.  Daily slaughter numbers continue to push higher adding more pork to the market.  As the economy remains slow to recover from COVID-19, demand uncertainty is adding more pressure to prices.  Global demand also faces uncertainties.  If prices are going to push higher, both aspects of demand will need strength behind them.  Barrows and gilts at the National Daily Direct are $.82 lower with a base range of $36 to $38.81 for a weighted average of $37.61.  Prices at the Regional Direct markets 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 demand for heavy offerings at $11 to $23.  Barrows and gilts were steady with moderate demand or moderate to heavy offerings at $19 to $24.  Boars ranged from $1 to $3. 

Pork values are sharply higher at midday – up $5.02 at $75.09.  All of the primals were higher to sharply higher.  Hams jumped more than $10 to start the day.