Market News

Midday cash livestock markets

A light direct cash cattle trade has been reported in parts of the South.  Deals in Texas are at $104, fully steady with Wednesday’s business.  Asking prices are at $105 to $107 live in the South and $170 plus dressed in the North.  Bids are on the table at $165 dressed in Nebraska and $165 to $170 dressed in Iowa.  Business is expected to improve as the day progresses.  There was a light to moderate business that took place in the South on Wednesday with deals ranging from $103 to $105, mostly at $104, $4 higher than last week’s weighted averages.  Some scattered trade was reported in the North. 

Boxed beef is higher at midday on good demand for light to moderate offerings.  Choice is $1.83 higher at $210.92 and Select is $1.51 higher at $197.50.  The Choice/Select spread is $13.42. 

At the Hub City Livestock Auction in South Dakota, there is a limited comparison as weight classes of steers and heifers offered were different.  The best test was on heifers 850 to 900 pounds, those were mostly steady.  The USDA says demand was good to very good for the offering of strings, loads, and packages.  Like recent weeks, flesh condition varied from light to heavy as cattle have been coming off both grass and out of feed yards.  Quality was mostly average to attractive and the market was active.  Receipts were up on the week.  Feeder supply included 68 percent heifers and 91 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 710 to 749 pounds brought $151 to $159.50 and feeder steers 816 to 841 pounds brought $141 to $148.75.  Medium and Large 1 feeder heifers 758 to 796 pounds brought $132 to $144 and feeder heifers 903 to 939 pounds brought $120.25 to $129.25. 

Cash hog prices at the major Direct Markets were not reported at midday due to confidentiality and negotiated numbers are relatively light.  Supply and demand continue to be the story of this market.  Supplies of market-ready hogs are more than ample and daily slaughter totals have been pushing higher adding more pork into the market.  But demand is facing a lot of uncertainty and until that shores up, it will be very difficult for prices to turn higher.  This morning’s export sales report was less than stellar. 

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 heavy 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 sharply higher at midday – up $4.01 at $76.45.  Hams jumped nearly $10 to start the day.  Loins are sharply higher.  Butts and bellies are higher.  Picnics are steady.  Ribs are lower. 

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