Market News

Midday cash livestock markets

It’s a sluggish start to the day for direct cash cattle trade activity.  Bids have been slow to surface and a few asking prices have been noted in parts of the South at $111 to $112 live and the North remains quiet.  There were just a handful of deals reported on Monday in Texas and Iowa at $107 to $109 live, but that’s not near enough to establish a trend for the week.  Look for business to develop as the week progresses. 

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $.70 lower at $213.92 and Select is $1.09 higher at $201.43.  The Choice/Select spread is $12.49. 

At the Joplin Regional Stockyards in Missouri, compared to last week, steers under 700 pounds were $3 to $5 lower and over 700 pounds were steady to $3 lower.  Heifer calves are steady to $3 lower, yearling heifers were steady.  The USDA says demand and supply were moderate.  Feeder supply included 46 percent steers and 51 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 559 to 597 pounds brought $141 to $156 and feeder steers 753 to 791 pounds brought $134 to $144.  Medium and Large 1 feeder heifers 650 to 698 pounds brought $133 to $142.75 and feeder heifers 709 to 739 pounds brought $126 to $137.

Cash hogs opened lower with moderate negotiated purchases.  The heavy supply of market-ready barrows and gilts is putting pressure on the cash hog market.  Processors are pushing daily slaughter totals higher as they work through the backlog of hogs that remain in the production system from the COVID-related shutdowns and slowdown.  That’s keeping the supply chain moving, and also adding more pork to an already saturated market.  But the industry remains optimistic demand for US pork will continue to see a boost on the global market. Barrows and gilts at the National Daily Direct are $1.70 lower with a base range of $60 to $65 for a weighted average of $62.26.  Prices at the major regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $50.  At Illinois, slaughter sow prices were firm with good demand for moderate offerings at $16 to $30.  Barrow and gilt prices were $1 higher with good demand for moderate to heavy offerings at $41 to $45.  Boars ranged from $1 to $4. 

Pork values are sharply higher at midday – up $6.72 at $101.03.  Hams are up more than $15 and bellies are more than $13 higher at midday.  Picnics, loins, and butts are all higher.  Ribs are lower.