Market News

Midday cash livestock markets

A light to moderate direct cash cattle trade is underway.  Deals in Kansas are at $104 live with spots of $105 and in Texas live deals are at $104, that’s mostly $4 higher than last week’s weighted averages.  Asking prices are holding firm at $105 plus live in the South and $168 to $170 dressed in the North.  Today’s Fed Cattle Exchange had an offering of 890 head out of Kansas and Texas with 602 head sold.  348 head sold for a weighted average price of $104.50, those are marked for 1 to 9-day delivery.  254 head sold for a weighted average price of $104.27, those are marked for 1 to 17-day delivery. 

Boxed beef is firm to higher at midday with good demand for light to moderate offerings.  Choice is $.56 higher at $208.64 and Select is $1.62 higher at $196.64.  The Choice/Select spread is $12. 

At the McAlester Union Livestock Auction in Oklahoma, compared to last week steer calves under 450 pounds were $1 to $5 higher and steer calves over 450 pounds were $2 to $6 lower.  Heifer calves under 400 pounds were $7 to $8 higher and heifers over 400 pounds were $3 to $4 lower.  The USDA says demand was moderate to good and quality was mostly average.  Receipts were down slightly on the week and up on the year. Feeder supply included 48 percent heifers and 23 percent was over 600 pounds.  Medium and Large 1 feeder steers 500 to 549 pounds brought $145 to $159 and feeder steers 600 to 645 pounds brought $134 to $146.  Medium and Large 1 feeder heifers 450 to 498 pounds brought $131 to $143 and feeder heifers 500 to 548 pounds brought $128 to $142. 

Cash hogs were steady at midday with light to moderate negotiated numbers.  Supplies of market-ready hogs are ample and slaughter runs continue to push well above year-ago totals.  That’s adding more pork to the market.  Demand uncertainties, both globally and domestically, remain and if prices have any chance of moving higher both of those will need to find some strength. Barrows and gilts at the National Daily Direct are $.07 higher at midday with a base range of $34.50 to $38 for a weighted average of $37.50.  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 moderate offerings at $11 to $23.  Barrow and gilt prices were steady with moderate demand for moderate to heavy offerings at $19 to $24.  Boars ranged from $1 to $3. 

Pork values are firm at midday – up $.49 at $70.88.  Hams jumped $14 to start the day.  Ribs are also higher.  Picnics, bellies, loins, and butts are all sharply lower.