Market News

Midday cash livestock markets

Direct cash cattle trade activity has been quiet through midday.  Bids remain elusive.  Asking prices have been noted around $105 to $107 live in the South, while those have yet to surface in the North.  Significant trade volume will likely be delayed until midweek or later. 

Boxed beef is mixed at midday on moderate demand for moderate offerings.  Choice is $.50 lower at $216.71 and Select is $.30 higher at $208.06.  The Choice/Select spread is $8.65. 

At the Joplin Regional Stockyards in Missouri, compared to two weeks ago, steers under 450 pounds were steady to $3 higher and 450 to 700 pounds were steady to $3 lower. Heifers under 700 pounds were steady to $5 lower and yearlings over 700 pounds were steady to $3 higher.  The USDA says demand was moderate to good and supply was moderate.  Receipts were up from the most recent sale and on the year.  Feeder supply included 50 percent steers and 48 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 651 to 691 pounds brought $144 to $154.50 and feeder steers 754 to 798 pounds brought $135 to $147.  Medium and Large 1 feeder heifers 562 to 592 pounds brought $135 to $146.50 and feeder heifers 700 to 745 pounds brought $132 to $136. 

Cash hogs opened steady to lower with moderate negotiated numbers following yesterday’s mostly sharply higher business.  Packers have been moving big numbers recently and today is no exception.  While there is optimism demand will continue to push higher, the heavy supply situation adds uncertainty to pries and makes it difficult for there to be significant moves higher for a long period of time.  Barrows and gilts at the National Daily Direct opened $.08 lower with a base range of $47 to $65 for a weighted average of $58.09; the Iowa/Minnesota is $2.99 lower for a weighted average of $58.51; the Western Corn Belt is $3.09 for a weighted average of $58.41.  The Eastern Corn Belt was not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 lower at $28.  At Illinois, slaughter sow prices were steady with good demand for moderate to heavy offerings at $11 to $23.  Barrow and gilt prices were $6 higher with good demand for moderate to heavy offerings at $35 to $41.  Boars ranged from $1 to $3. 

Pork values are sharply higher at midday – up $6.64 at $86.35.  Bellies jumped more than $15 to start the day.  Hams and loins are also sharply higher.  Ribs, butts, and picnics were also higher. 

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