Market News

Midday cash livestock markets

Direct cash cattle trade remains at a standstill.  Bids are non-existent.  Asking prices in the South are at $109 to $110 live, with nothing surfacing out of the North just yet.  Today’s Fed Cattle Exchange could be what was needed to spark some activity.  Today’s Fed Cattle Exchange had an offering of 634 head with 296 head sold, all of which were marked for 1 to 17-day delivery with a weighted average price of $107. 

Boxed beef is higher at midday on good demand for moderate offerings.  Choice is $.83 higher at $210.27 and Select is $1.09 higher at $196.54.  The Choice/Select spread is $13.73. 

At the Philip Livestock Auction in South Dakota, compared to last week, feeder steers 400 to 550 pounds were $3 to $4 higher, 550 to 600 pounds were $5 to $6 higher, 600 to 650 pounds were $1 to $2 higher, and 650 to 700-pounds steers were $6 higher.  Feeder heifers 400 to 500 pounds were $5 to $7 higher, 500 to 550 pounds were $10 to $12 higher, 550 to 600 pounds were $6 to $8 higher, 600 to 650 pounds were $4 to $6 higher.  The USDA says demand was very good for many long-strings, load lots, and many packages of feeder steers, feeder heifers, and replacement heifers.  All of which sold on a very strong, active market.  Receipts were up on the week, but down on the year.  Feeder supply included 70 percent steers and 38 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 599 pounds brought $151 to $167.50 and feeder steers 603 to 644 pounds brought $145.50 to $159.  Medium and Large 1 feeder heifers 551 to 592 pounds brought $139.50 to $149.50 and feeder heifers 603 to 635 pounds brought $134.50 to $144. 

Cash hogs were weak at midday with moderate negotiated purchases.  Heavy supplies and demand uncertainty is making it very difficult for prices to push higher consistently.  The availability of market-ready barrows and gilts is more than ample and daily slaughter totals continue to push higher, adding more pork to an already saturated market.  Hog weights this week jumped to 287.3 pounds, that’s up 1.4 pounds on the week and up 0.6-pounds on the year.  Barrows and gilts at the National Daily Direct are $.28 lower with a base range of $36 to $60.01 and a weighted average of $59.51.  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 steady with good demand for moderate to heavy offerings at $37 to $42.  Boars ranged from $5 to $8.  Pork values are firm at midday – up $.75 at $83.74.  Hams were up $11.83.  Picnics were firm. Bellies, butts, and loins were all sharply lower.  Ribs were weak.