Market News

Midday cash livestock markets

Direct cash cattle trade is quiet following the light to moderate trade that developed mid-week.  There could be some cleanup business today, but it’s likely the bulk of the week’s business has concluded.  Asking prices for cattle left on showlists are around $112 live in the South and $175 dressed in the North.  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, $4 lower than last week’s weighted averages. 

Boxed beef is firm to sharply higher at midday on good demand for moderate offerings.  Choice is $.25 higher at $213.62 and Select is $2.08 higher at $203.15.  The Choice/Select spread is $10.47. 

At the Mitchell Livestock Auction in South Dakota, compared to last week, feeder steers 500 to 800 pounds were steady to $5 lower, steers 800 pounds and up were $8 to $11 lower.  Heifers 600 to 900 pounds were $2 to $5 lower and heifers 900 to 950 pounds were $11 lower.  The USDA says heavy feeders are carrying extra flesh as a result of the relatively mild winter so far.  Demand was good.  Receipts were up on the week and the year.  Feeder supply included 57 percent steers and 81 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 660 to 695 pounds brought $137.25 to $148 and feeder steers 808 to 849 pounds brought $121.25 to $132.85.  Medium and Large 1 feeder heifers 603 to 647 pounds brought $130.50 to $138.25 and feeder heifers 704 to 748 pounds brought $123.50 to $132. 

Cash hogs are lower at midday with solid negotiated numbers.  The availability of market-ready hogs is more than ample and processors continue to push daily slaughter totals higher.  And while that’s keeping the supply chain moving and helping prevent more hogs from backing up in the production system, it’s also adding to the supply.  This comes at a time when demand, both globally and domestically, face uncertainty. Barrows and gilts at the National Daily Direct are $.95 lower with a base range of $46 to $55 with a weighted average of $52.75 and the Eastern Corn Belt had no comparison but a weighted average of $52.10.  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 steady with good demand for moderate offerings at $29 to $42.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $31 to $38.  Boars ranged from $15 to $20 and $4 to $10. 

Pork values are sharply higher at midday – up $2.24 at $82.79.  Hams, butts, and picnics are all sharply higher.  Loins are higher.  Ribs are steady and bellies are sharply lower. 

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