Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a slow start.  Bids are non-existent.  Asking prices have surfaced around $114 live in the South, while the North remains quiet.  It’s likely significant trade volume will be delayed until the last half of the week.   

Boxed beef is higher at midday on good demand for moderate offerings.  Choice is $1.56 higher at $209.25 and Select is $.84 higher at $196.58.  The Choice/Select spread is $12.67. 

At the Callaway Livestock Center in Missouri, compared to last week steer calves 400 to 550 pounds were steady to firm, 550 to 650 pounds were steady to $3 higher, 650 to 700 pounds were steady to $2 lower and 700 to 800 pounds were $4 to $6 lower.  Feeder heifers 400 to 550 pounds sold with a higher undertone, 550 to 600 pounds were mostly steady, and heifers over 600 pounds sold with a lower underdone on a light test.  The USDA says demand was good on a good quality offering of steer calves weighing 400 to 650 pounds with light demand for 700 to 800-pound steers.  Receipts were up on the week and the year.  Feeder supply included 64 percent steers and 53 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 603 to 649 pounds brought $142.50 to $152.25 and feeder steers 652 to 667 pounds brought $140.50 to $143.  Medium and Large 1 feeder heifers 550 to 595 pounds brought $131 to $140 and feeder heifers 750 pounds brought $124. 

Cash hogs are weak at midday with fairly light negotiated purchases.  Processors have been pushing daily slaughter totals at or near record totals every day, which is a necessity as supplies of market-ready barrows and gilts are heavy.  The big daily slaughter runs are also helping to keep supply chains moving.  While that’s preventing more hogs from backing up in the production system, it’s also adding more pork to the market.  But, demand, both globally and domestically, face uncertainty and that’s creating additional pressure on prices. Barrows and gilts at the National Daily Direct are $.38 lower with a base range of $44 to $56.07 with a weighted average of $55.69 and the Western Corn Belt had no comparison, but a weighted average of $54.26.  Prices at the Iowa/Minnesota and the Western Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $39. At Illinois, slaughter sow prices were $1 higher with good demand for heavy offerings at $27 to $41.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $31 to $39.  Boars ranged from $15 to $20. 

Pork values are higher at midday – up $1.58 at $84.96.  Bellies are up $10.56 at midday.  Ribs and loins are both sharply higher.  Picnics are higher.  Butts and hams are lower to sharply lower.