Market News

Midday cash livestock markets

There are some scattered bids on the table as direct cash cattle trade activity takes a little breather following Thursday’s moderate to active trade in most areas.  Bids range anywhere from $104 to $106 live and $164 to $165 dressed.  Asking prices for cattle left on showlists are around $106 plus live in the South and $166 plus dressed in the North. Southern live deals were marked at mostly $105, $2 higher than the prior week’s weighted averages.  Northern dressed business was at mostly $165, roughly $2 higher than the prior week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $1.74 higher at $219.22 and Select is $.37 lower at $207.37.  The Choice/Select spread is $11.85. 

At the New Cambria Livestock Market in Missouri, compared to two weeks ago, steer calves under 600 pounds sold with a higher undertone on a light test and 650 to 750 pound steers sold steady to $3 higher with spots of $5 higher on 700 to 750-pound steers.  Feeder heifers 450 to 700 ponuds were steady on comparable weights.  There was a good offering of yearling steers weighing 650 to 850 pounds that sold on an active market.  Several small lots and packages of steer calves weighing 500 to 550 pounds were also met with good demand.  Feeder supply included 55 percent steers and 70 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 659 to 696 pounds brought $150.50 to $160.75 and feeder steers 751 pounds brought $154.  Medium and Large 1 feeder heifers 561 to 585 pounds brought $145.25 to $153 and feeder heifers 728 pounds brought $140. 

Cash hogs opened mixed with a solid negotiated run as packers are working to move their desired numbers.  Demand for US pork is expected to increase and that’s helping provide some price support.  However, heavy supplies make it very difficult for prices to find long-term price strength.  If any disruption to the demand picture occurred it could cause prices to tumble.  Barrows and gilts at the National Daily Direct are $.41 higher with a base range of $60 to $69 for a weighted average of $65.01; the Iowa/Minnesota is $1.70 higher with a weighted average of $65.35; the Western Corn Belt is $1.53 higher for a weighted average of $65.12; the Eastern Corn Belt is $.10 lower with a weighted average of $64.91. 

Butcher hog prices at the Midwest cash markets are higher at $38. Pork values are higher at midday – up $.91 at $92.94.  Butts and loins are sharply higher.  Ribs and bellies are higher.  Picnics are weak and hams are lower.