Market News

Midday cash livestock markets

Direct cash cattle trade is quiet.  Bids and asking prices have yet to surface.  It’s likely significant trade volume will be delayed until the last part of the week.  Showlists this week are a little larger for the most part following last week’s less than stellar cash trade. 

Boxed beef is higher at midday on good demand for moderate offerings.  Choice is $1.53 higher at $210.18 and Select is $2.84 higher at $195.46.  The Choice/Select spread is $14.72. 

At the Joplin Regional Stockyards in Missouri, compared to last week steer and heifer calves were $5 to $10 higher and yearlings were $4 to $8 higher.  The USDA says demand was good and supply was light.  There were several weaned and vaccinated calves in the offering.  Receipts were up on the week and down on the year.  Feeder supply included 52 percent steers and 54 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 506 to 548 pounds brought $142.50 to $153 and feeder steers 857 to 861 pounds brought $138.75.  Medium and Large 1 feeder heifers 508 to 548 pounds brought $131 to $139 and feeder heifers 610 to 641 pounds brought $129 to $134.50. 

Cash hogs were steady at midday with moderate negotiated numbers.  The industry continues to watch supply and demand.  The availability of market-ready hogs is more than ample and processors continue to push higher.  And while that keeps the supply chain moving, it also adds more pork to an already saturated market.  The market remains optimistic demand for US pork will continue to see strong support both domestically and globally.  Barrows and gilts at the National Daily Direct are $.10 higher with a base range of $56 to $60.01 for a weighted average of $59.86.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $40. At Illinois, slaughter sow prices were steady with good demand for heavy offerings at $26 to $40.  Barrow and gilt prices were $2 to $3 lower with good demand for moderate to heavy offerings at $39 to $40.  Boars ranged from $5 to $8. 

Pork values are sharply higher at midday – up $4.44 at $88.58.  Bellies jumped nearly $10.50 to start the day.  Loins, hams, and butts are higher to sharply higher.  Ribs are firm.  Picnics are weak.