Market News

Midday cash livestock markets

There is a very light direct cash cattle trade underway.  Deals in Kansas are at $111 live, in Texas at $110 live, and in Iowa at $110 live and $172 dressed.  Asking prices are holding at $112 plus live int eh South.  More interest is expected to develop as the day progresses. 

Boxed beef is firm to higher at midday on good demand for moderate offerings.  Choice is $.62 higher at $244.92 and Select is $1.40 higher at $221.11.  The Choice/Select spread is $23.81. 

At the Ozarks Regional Stockyards in Missouri, compared to last week, steer and heifer calves were mostly steady with some 7-weight steers trading $5 higher.  The USDA says demand was good on a light supply with most weights not well tested.  Receipts were down significantly this week due to the Thursday holiday.  Feeder supply included 58 percent steers and 46 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 558 to 598 pounds brought $146 to $164 and feeder steers 754 to 791 pounds brought $135.25 to $142.  Medium and Large 1 feeder heifers 456 to 497 pounds brought $130 to $141 and feeder heifers 556 to 597 pounds brought $127 to $134. 

Cash hogs were weak at midday with fairly light negotiated purchases.  The industry continues to watch the supply and demand situation.  Supplies of market-ready hogs are more than ample and processors continue to push daily slaughter totals higher.  That’s helping to reduce the backlog of hogs in the production system, and not add to it, but it’s also adding more pork to an already saturated market.  At the same time, there is a lot of uncertainty that surrounds the demand picture – both globally and domestically.  Hog weights this week dropped to 288.7 pounds, that’s a 0.4-pound decline from last week, but up 1.6 pounds on the year.  Barrows and gilts at the National Daily Direct are $.41 lower with a base range of $57 to $58.50 with a weighted average of $57.48.  Prices at the regional direct markets were not reported due to confidentiality.   

At Illinois, slaughter sow prices were firm with moderate demand for heavy offerings at $28 to $41.  Barrow and gilt prices were steady 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 $.56 at $78.14.  Hams are sharply higher, and loins are higher.  Picnics and butts are sharply lower.  Ribs and bellies are weak. 

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