Market News

Midday cash livestock markets

Direct cash cattle trade is expected to develop early because of the shortened Thanksgiving holiday week.  Bids in the South have been floated already at $110 live.  Live business in the South last week had a full range of $108 to $111, mostly at $110, which was about steady with the prior week’s weighted averages.  Northern dressed business ranged from $166 to $172, mostly at $172, which was generally steady with the previous week’s weighted averages basis in Nebraska. 

Boxed beef is mixed at midday on good demand for light offerings.  Choice is $4.09 higher at $242.44 and Select is $.45 lower at $214.53.  The Choice/Select spread is $27.91. 

In South Dakota last week, steers calves under 550 pounds were $2 to $3 higher with instances of up to $7 higher.  Steers over 550 pounds were steady to $3 lower.  Heifer calves were steady to $1 higher.  Yearling feeder steers were steady to $2 lower and heifers were steady to $5 lower.  The USDA says demand was moderate to good for calves and good demand remains on yearlings.  Calves out of the west were light in flesh and sold in large strings.  Receipts were down on the week, but up on the year.  Feeder supply included 59 percent steers and 43 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 504 to 549 pounds brought $148 to $182 and feeder steers 550 to 599 pounds brought $141 to $169.  Medium and Large 1 feeder heifers 450 to 499 pounds brought $137 to $164 and feeder heifers 500 to 549 pounds brought $135.50 to $160. 

Cash hogs are lower at midday with moderate negotiated numbers.  Look for big runs early this week ahead of the Thursday holiday.  Supplies of market-ready barrows and gilts are more than ample and slaughter runs continue to push higher.  That helps keep the supply chains moving and prevents more hogs from being backed up in the production system, but it also adds more pork to an already saturated market.  The industry remains optimistic demand for US pork will continue to hold in both the global and domestic markets. Barrows and gilts at the National Daily Direct are $1.02 lower with a base range of $50 to $59 for a weighted average of $57.81.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $42. At Illinois, slaughter sow prices were $2 to $4 lower with moderate to good demand for moderate to heavy offerings at $28 to $41.  Barrow and gilt prices were weak with moderate demand for moderate offerings at $36 to $42.  Boars ranged from $15 to $19 and $5 to $8. 

Pork values are firm at midday – up $.78 at $78.95.  Butts and bellies are sharply higher.  Loins, picnics, and ribs are firm.  Hams are sharply lower.