Market News

Midday cash livestock markets

There’s a light direct cash cattle trade that’s developed in parts of the South.  Deals in Texas are at $110 to $112 live, $1 lower to $1 higher than last week’s weighted averages.  Bids across the rest of cattle country are at $110 live and $172 to $174 dressed with asking prices at $112 to $113 live in the South and $175 dressed in the North.  Today’s Fed Cattle Exchange had an offering of 1,025 head with 488 sold.  There were 197 head that sold for a weighted average price of $110.75, those are marked for 1 to 9-day delivery and 291 head sold with a weighted average price of $110.50 and are marked for 1 to 17-day delivery. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $1.70 lower at $241.70 and Select is $1.13 higher at $224.41.  The Choice/Select spread is $17.49. 

At the Kingsville Livestock Auction in Missouri, compared to two weeks ago, steers and heifers were steady to $4 lower with the decline on calves.  The USDA says demand was mostly moderate, but good in pots, mainly for lighter fleshed yearlings.  Several loads of yearlings and many groups of calves were on offer.  Receipts were up on the year.  Feeder supply included 53 percent steers and 62 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 601 to 648 pounds brought $146 to $154.50 and feeder steers 716 to 745 pounds brought $139 to $149.75.  Medium and Large 1 feeder heifers 651 to 693 pounds brought $138 to $145.25 and feeder heifers 762 to 787 pounds brought $134 to $136. 

Cash hogs opened weak to lower with solid negotiated purchases to start the day.  Processors continue to push daily slaughter totals higher, which is helping to keep the supply chain moving and preventing a further backlog of hogs in the production system.  And it’s a necessity as the availability of market-ready hogs is more than ample.  But, it’s also adding more pork to an already saturated market.  Hog weights jumped to 290.7 pounds, that’s a 2-pound increase from last week and 3.7 pounds on the year. Barrows and gilts at the National Daily Direct are $.34 lower with a base range of $50 to $58.50 and a weighted average of $56.42; the Iowa/Minnesota is $1.01 lower with a weighted average of $55.95; the Western Corn Belt is $.46 lower with a weighted average of $56.39; the Eastern Corn Belt was not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 lower in Dorchester, Wisconsin, and Garnavillo, Iowa at $34.  Red Oak, Iowa is $5 lower at $37. At Illinois, slaughter sow prices were $1 lower with moderate demand for heavy offerings at $27 to $40.  Barrow and gilt prices were steady with moderate demand for moderate offerings at $35 to $41.  Boars ranged from $15 to $20 and $5 to $10. 

Pork values are sharply higher – up $4.08 at $81.16.  Hams and bellies were both sharply higher.  Picnics were sharply lower.  Ribs, loins, and butts were all lower.