Market News

Midday cash livestock markets

A slow morning for direct cash cattle trade activity following two days o flight to moderate business.  Southern live deals this week have had a full range of $108 to $111, mostly $110 to $111, which is $1 to $2 lower than last week’s weighted averages.  Northern dressed deals ranged from $171 to $173, mostly $172 to $173, steady to $1 lower than Tuesday’s decline and $4 lower than last week’s weighted averages.  Asking prices for cattle left on showlists are around $111 to $112 live in the South and $175 dressed in the North.  While additional deals may be reported over the balance of the week, it’s likely the bulk of the week’s trade is completed.

Boxed beef is sharply higher at midday on good demand for moderate offerings.  Choice is $2.49 higher at $213.49 and Select is $2.10 higher at $201.16.  The Choice/Select spread is $12.33. 

At the Huss Livestock Market in Nebraska, compared to last week steers were $3 to $6 lower and heifers sold $1 to $5 lower.  The USDA says demand was moderate to good from the buyers in the crowd.  Receipts were up on the week and the year.  Feeder supply included 57 percent steers and 85 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 750 to 793 pounds brought $134.50 to $143.25 and feeder steers 752 to 792 pounds brought $125 to $132.50.  Medium and Large 1 feeder heifers 650 to 671 pounds brought $129.50 to $135.50 and feeder heifers 700 to 743 pounds brought $124 to $130. 

Cash hogs were weak at midday with moderate negotiated numbers.  Prices have struggled to move out of their current price pattern as the industry monitors the supply and demand situation.  The availability of market-ready hogs is more than ample and daily slaughter runs continue to push higher.  While that’s keeping the supply chain moving, it’s also adding more pork to an already saturated market, at a time when global and domestic demand face uncertainty.  Barrows and gilts at the National Daily Direct are $.50 lower with a base range of $46 to $56 with a weighted average of $53.70.  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 steady 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 sharply higher at midday – up $5.54 at $83.67.  Bellies jumped $19 and hams were up nearly $14 at midday.  Loins and butts were sharply lower.  Picnics and ribs were lower.