Market News

Midday cash livestock markets

Direct cash cattle trade is quiet at midday.  Bids and asking prices have yet to be established.  Showlists this week are about steady in Texas, higher in Kansas and in Nebraska/Colorado.  It’s likely significant trade volume will be delayed until Wednesday or later. 

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $.29 lower at $207.54 and Select is $.55 higher at $189.04.  The Choice/Select spread is $18.50. 

At the Joplin Regional Stockyards in Missouri, compared to last week steer and heifer calves were $2 to $5 lower, yearlings were steady to $5 lower.  The USDA says demand was moderate to light and supply was light.  Receipts were down on the week and the year.  Feeder supply included 57 percent steers and 47% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 802 to 822 pounds brought $129.50 to $132 and feeder steers 910 to 935 pounds brought $124.50 to $128.85.  Medium and Large 1 feeder heifers 604 to 646 pounds brought $11 to $124 and feeder heifers 659 to 698 pounds brought $116 to $123. 

Cash hogs are mixed at midday with moderate negotiated numbers.  The industry remains optimistic that demand strength will continue.  That’s helping to keep prices supported at a time when there are concerns about the more than ample supplies of market-ready hogs.  Processors continue to push daily slaughter totals higher, that’s helping to relieve some of the pressure on the supply chain that remains from those COVID-related slowdowns and shutdowns.  While it’s keeping product moving, it’s also adding more pork to the market. Barrows and gilts at the National Daily Direct are $.81 higher with a base range of $56 to $61.42 for a weighted average of $61.32 and the Western Corn Belt is $1.57 lower for a weighted average of $60.84.  Prices at the Iowa/Southern Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets area steady at $38. At Illinois, slaughter sow prices were $1 higher with good demand for moderate to heavy offerings at $24 to $38.  Barrow and gilt prices were firm with good demand for moderate to heavy offerings at $37 to $43.  Boars ranged from $5 to $7. 

Pork values are sharply higher at midday – up $3.03 at $94.89.  Hams and bellies are sharply higher.  Ribs, butts, and picnics are all higher.  Loins are steady.