Market News

Midday cash livestock markets

Another round of light trade is underway following Tuesday’s light business.  Deals in Kansas and Texas are at $110 to $111 live.  Asking prices are around $113 to $114 live in the South and $176 plus, dressed in the North.  Deals on Tuesday were mostly in Eastern Nebraska with dressed business at $173 to $174, that’s $2 to $3 lower than the prior week’s weighted averages. Today’s Fed Cattle Exchange had an offering of 1,532 head with 580 head sold with a price range of $109 to $111.

Boxed beef is higher at midday on good demand for moderate offerings.  Choice is $.94 higher at $210.08 and Select is $1.16 higher at $199.25.  The Choice/Select spread is $10.83. 

At the Philip Livestock Auction in South Dakota, no comparisons were available for this week’s active market.  The USDA says demand was very good for several long strings, load lots, and many packages of feeder steers and feeder heifers which sold on a very strong, active market.  The supply was a mix of weaned calves out to he feed lot carrying light to moderate flesh as well as calves off the cow in light flesh.  Receipts were up on the year.  Feeder supply included 62 percent steers and 43 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 551 to 598 pounds brought $158.50 to $173 and feeder steers 652 to 695 pounds brought $142.50 to $153.  Medium and Large 1 feeder heifers 557 to 598 pounds brought $144.50 to $156.75 and feeder heifers 603 to 645 pounds brought $137.25 to $150. 

Cash hogs are lower at midday with moderate negotiated numbers. More than ample supplies of market-ready hogs are just one of the factors that are pressuring prices.  Processors are also pushing daily slaughter totals higher.  While that’s preventing more hogs from backing up in the production system, it’s also adding more pork to an already saturated market.  The industry continues to watch demand – both global and domestic.  There has been some uncertainty and that is also limiting the ability of prices to move higher.  Barrows and gilts at the National Daily Direct are $1.29 lower with a base range of $44 to $57 with a weighted average of $54.20.  Prices at the regional direct markets 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 to $2 higher with good demand for heavy offerings at $29 to $42.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $31 to $39.  Boars ranged from $15 to $20 and $4 to $10. 

Pork values are firm at midday – up $.37 at $79.56.  Picnics and hams were sharply higher.  Butts were firm.  Bellies were sharply lower.  Ribs and loins were also lower.