Market News

Midday cash livestock markets

It’s a typical Monday for direct cash cattle trade activity with both buyers and sellers taking inventory.  Bids and asking prices have yet to be established.  Last week there was a light to moderate trade that took place every day.  Southern live deals had a full rang of $103 to $106.50, mostly at $106, which was $2 lower than the prior week’s weighted averages.  Northern dressed business ranged from $162 to $166, which was roughly $2.50 to $6.50 lower than the previous week’s weighted average basis in Nebraska.   

Boxed beef is lower at midday on light demand for light offerings.  Choice is $.95 lower at $206.54 and Select is $2.59 lower at $188.81.  The Choice/Select spread is $17.73. 

In South Dakota last week, compared to the previous week steer calves were $5 to $10 lower, heifer calves were $4 to $7 lower with instances of $10 lower.  Yearling feeder steers were $2 to $3 lower with a few instances of steady, yearling feeder heifers $4 to $7 lower.  The USDA says demand was moderate for spring-born calves.  Yearling steers and heifers sold with a stronger demand as the supply is much more limited.  Receipts were up on the week and nearly steady on the year.  Feeder supply included 63 percent steers and 48 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 500 to 548 pounds brought $134.75 to $172 and feeder steers 550 to 598 pounds brought $140 to $162.50.  Medium and Large 1 feeder heifers 450 to 499 pounds brought $135.50 to $158.50 and feeder heifers 500 to 549 pounds brought $130.50 to $158. 

Cash hog prices at the major direct markets were not reported at midday due to packer submission problems.  There are several issues that cash hog market continues to watch.  The domestic supply and demand situation, the global pork market, and the ongoing battle with African swine fever.  The availability of market-ready hogs is more than ample and processors continue to push daily slaughter totals higher adding more pork to the market.  Globally, there is still optimism as countries continue to battle ASF, that the US will see a boost to demand.  Which, could ultimately provide some price support. 

Butcher hog prices at the Midwest cash markets are steady with last week at $38. 

At Illinois, slaughter sow prices were $1 higher with good demand for moderate to heavy offerings at $23 to $37.  Barrow and gilt prices were weak with moderate to good demand for moderate to heavy offerings at $37 to $43.  Boras ranged from $5 to $7. 

Pork values are sharply higher at midday – up $2.99 at $96.24.  Hams were sharply higher.  Picnics and ribs were also higher.  Butts were steady.  Bellies and loins were lower. 

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