Market News

Midday cash livestock markets

A little cleanup direct cash cattle trade is being reported at midday.  Deals in parts of Texas are at $110 live.  That’s fully steady with the week’s previous business.  There could be a little more trade develop as the day progresses, but it’s likely the bulk of the week’s business has wrapped.  Asking prices for cattle left on showlists are around $112 plus in the South and $175 plus dressed in the North. 

Boxed beef is mixed at midday with light offerings.  Choice is $1.71 lower at $237.48 and Select is $.81 higher at $220.74.  The Choice/Select spread is $16.74. 

At the Ogallala Livestock Auction in Nebraska, compared to two weeks ago, the bulk of steer and heifer calves sold $8 to $10 higher with yearling type feeders trading steady to $3 higher.  The USDA says demand was good with several buyers in the crowd with an active online participation noted.  Several of the calves on offer were long-time weaned.  Receipts were up on the week and the year.  Feeder supply included 70 percent steers and 24 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 368 to 391 pounds brought $209 to $229.50 and feeder steers 605 to 649 pounds brought $146 to $166.  Medium and Large 1 feeder heifers 504 to 549 pounds brought $149.50 to $160 and feeder heifers 600 to 641 pounds brought $134 to $147.75. 

Cash hogs are mostly steady at midday with solid negotiated numbers.  The availability of market-ready hogs is more than ample.  Processors continue to push daily slaughter totals higher. While that’s keeping supply chains moving and helping to prevent any further backlog of hogs in the production system, it’s also adding more pork to a heavily saturated market.  The market continues to watch supply and demand, especially as demand for US pork on the global market faces some uncertainty. Barrows and gilts at the National Daily Direct is $.11 lower with a base range of $52 to $58.50 with a weighted average of $56.16; the Iowa/Minnesota is $.07 higher with a weighted average of $56.83; the Western Corn Belt is $.17 lower with a weighted average of $56.52; the Eastern Corn Belt was not reported due to confidentiality. 

At Illinois, slaughter sow prices were $1 lower with moderate demand for moderate offerings at $26 to $39.  Barrow and gilt prices were weak 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 at midday – up $3.49 at $79.94.  Hams are sharply higher.  Butts, picnics, and bellies are higher.  Loins and ribs are weak.