Market News

Midday cash livestock markets

Direct cash cattle trade is relatively quiet following Wednesday’s trade.  Deals this week have been at mostly $107 live.  Bids have surfaced today at $107 live and $167 dressed with asking prices holding firm at $108 to $110 live in the South, and nothing yet out of the North.  Look for more business to develop as the day progresses. 

Boxed beef is higher to sharply higher at midday on good demand for moderate offerings.  Choice is $1.31 higher at $211.50 and Select is $3.34 higher at $200.39.  The Choice/Select spread is $11.11. 

At the Winter Livestock Auction in Kansas, compared to last week’s limited numbers, feeder steers 600 to 950 pounds were $5 to $11 higher.  Feeder steers and heifers 300 to 600 pounds were $12 to $15 higher.  Feeder heifers 600 pounds to 925 pounds were $6 to $12 higher.  The USDA says demand was good.  Receipts were down on the year.  Feeder supply included 49 percent steers and 68 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 566 to 599 pounds brought $140 to $151.50 and feeder steers 606 to 649 pounds brought $132.50 to $139.50.  Medium and Large 1 feeder heifers 700 to 748 pounds brought $128 to $132.35 and feeder heifers 752 to 796 pounds brought $125.50 to $131.85.  Cash hog prices at the Midwest cash markets were not reported at midday due to confidentiality.  The industry has kept a close eye on the supply and demand situation.  Demand for US pork is expected to remain strong both globally and domestically, and that’s supportive to prices. 

Cash hog prices at the Midwest cash markets were not reported at midday due to confidentiality.  The industry has kept a close eye on the supply and demand situation.  Demand for US pork is expected to remain strong both globally and domestically, and that’s supportive to prices.  However, the availability of market-ready hogs is more than ample and processors are continuing to push daily slaughter totals higher.  That’s adding more pork to an already saturated market.  One benefit of those higher slaughter runs, is it’s helping to keep the supply chain moving which should help to move through some of the backlog in the production system that still linger from the COVID-19-related slowdowns and shutdowns. 

Butcher hog prices at the Midwest cash markets are steady at $40. 

At Illinois, slaughter sow prices were firm with good demand for moderate 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 sharply higher at midday – up $8.59 at $91.  Bellies jumped $23 and Hams were up nearly $13 to start the day.  Loins, butts, and picnics were higher to sharply higher.  Ribs were sharply lower.