Midday cash livestock markets
October 16, 2020 By Meghan Grebner Filed Under: Livestock, Livestock Markets, Livestock Markets, Market News, Market News
Direct cash cattle trade activity remains very quiet following another round of light to moderate business that took place in the North on Thursday. Cattle trade this week has been at mostly $108 in Kansas and Texas and $167 to mostly $169 in Nebraska and Iowa. It’s likely the bulk of the week’s business is wrapped up for the week, although some cleanup trade is possible. Asking prices for cattle left on showlists are $170 plus dressed in the North and $110 plus live in the South.
Boxed beef is steady to lower at midday on light demand for light offerings. Choice is $.18 higher at $210.66 and Select is $1.90 lower at $194.60. The Choice/Select spread is $16.06.
At the Ogallala Livestock Auction in Nebraska, compared to last week steers were $3 to $6 higher and heifers were steady to $7 higher. The USDA says demand was good on the good offering. Receipts were up on the week and the year. Feeder supply included 39 percent steers and 45 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 450 to 499 pounds brought $166.50 to $186 and feeder steers 556 to 589 pounds brought $158 to $163. Medium and Large 1 feeder heifers 654 to 685 pounds brought $156 to $158.50 and feeder heifers 713 to 716 pounds brought $156.25 to $158.25.
Cash hogs opened weak to lower with moderate negotiated purchases. This morning’s Export Sales report showed a significant decline in sales from last week and the prior 4-week average. Supplies of market-ready hogs are more than ample and daily slaughter totals continue to push higher. While that helps to alleviate some of the pressure in the supply chain that still lingers from the COVID-related shutdowns and slowdowns, it does add more pork to an already saturated market. Barrows and gilts at the National Daily Direct are $1.04 lower with a base range of $58 to $66 for a weighted average of $62.42; the Iowa/Minnesota is $.47 lower for a weighted average of $64.22; the Western Corn Belt is $.31 lower for a weighted average of $64.13. The Eastern Corn Belt was not reported due to confidentiality.
Butcher hog prices at the Midwest cash markets are steady at $50. At Illinois, slaughter sow prices were steady with good demand for moderate offerings at $20 to $34. Barrow and gilt prices were weak with good demand for moderate offerings at $41 to $45. Boars ranged from $1 to $5.
Pork values are lower – down $2.94 at $98.48. Hams dropped $15.17. The rest of the primals were steady to sharply higher.
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