Market News

Midday cash livestock markets

Direct cash cattle trade is quiet through midday.  Bids have been renewed in Nebraska at $166 dressed.  Asking prices are around $107 live in the South and $170 dressed in the North.  There was a very light trade that took place in Kansas and Texas on Thursday at mostly $104, fully steady with the bulk of the week’s trade and $4 higher than last week’s weighted averages.  Look for business in the North to develop as the day progresses. 

Boxed beef is higher at midday with good demand for light to moderate offerings.  Choice is $3.09 at $214.04 and Select is $1.83 higher at $199.24.  The Choice/Select spread is $14.80. 

At the Douglas County Livestock Auction in Missouri, compared to last week, steers were steady and heifers were steady to $3 higher.  The USDA says both demand and supply were moderate.  Receipts were down on the week and up on the year.  Feeder supply included 48 percent steers and 36 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 566 to 591 pounds brought $151 to $157.50 and feeder steers 719 to 730 pounds brought $141 to $148.  Medium and Large 1 feeder heifers 565 to 598 pounds brought $130 to $139.50 and feeder heifers 606 to 647 pounds brought $126 to $137.50. 

Cash hogs opened steady to weak with moderate negotiated numbers.  Demand uncertainty, both globally and domestically, is creating added pressure to prices.  Supplies of market-ready barrows and gilts are more than ample and daily slaughter totals are on the rise.  Until demand sees solid, consistent improvement, it will be very difficult for prices to push higher. Barrows and gilts at the National Daily Direct was $.05 lower with a base range of $35 to $38 for a weighted average of $37.46; the Iowa/Minnesota was $.35 lower for a weighted average of $37.50; the Western Corn Belt is $.40 lower for a weighted average of $37.45.  The Eastern Corn Belt was not reported due to confidentiality. 

The Midwest cash markets are closed today. At Illinois, slaughter sow prices were steady with moderate to good demand for moderate to 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 higher – up $1.85 at $75.61.  Picnics, ribs, butts, and loins are all sharply higher.  Hams are higher.  Bellies are lower.