Market News

Midday cash livestock markets

Direct cash cattle trade activity is sluggish following two days of light to moderate trade.  Asking prices for cattle left on showlists are around $112 live in the South and $175 dressed in the North.  Trade this week has been at mostly $110 live in the South, which is steady to weak with the prior week’s weighted averages.  Northern dressed deals were at mostly $172 to $173, generally steady to $1 lower than the previous week’s weighted average basis in Nebraska. 

Boxed beef is higher to sharply higher at midday on good demand for moderate offerings.  Choice is $1.85 higher at $223.05 and Select is $3.24 higher at $213.52.  The Choice/Select spread is $9.53. 

At the Mitchell Livestock Auction in South Dakota, a higher undertone was noted on steers up to 550 pounds, steers 550 to 700 pounds were steady to $3 higher, steers 700 and up were $1 to $4 higher.  There was an unevenly steady undertone noted on heifers up to 550 pounds and heifers 550 to 900 pounds were steady to $2 higher, heifers 900 to 950 pounds were $6 higher.  The USDA says demand was good.  Receipts were down on the week and the year.  Feeder supply included 47 percent steers and 76 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 709 to 738 pounds brought $137.50 to $145.50 and feeder steers 756 to 799 pounds brought $130.50 to $136.75.  Medium and Large 1 feeder heifers 607 to 643 pounds brought $134.25 to $139 and feeder heifers 710 to 749 pounds brought $125.50 to $133.50. 

Cash hogs are higher at midday with moderate negotiated numbers.  Buyers and sellers continue to monitor the availability of market-ready hogs, which remains more than ample.  Processors are also pushing daily slaughter runs at or near-record levels. And while that’s keeping the supply chain moving, it also adds more pork to a heavily saturated market.  While there is some uncertainty surrounding demand, the industry remains optimistic strength will hold on both the global and domestic markets.  Barrows and gilts at the National Daily Direct are $.87 higher with a base range of $50.75 to $56 and a weighted average of $55.56.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $40.  At Illinois, slaughter sow prices were steady with good demand for light to moderate offerings at $32 to $44.  Barrow and gilt prices were firm with good demand for moderate to heavy offerings at $30 to $38.  Boars range from $15 to $20 and $5 to $10. 

Pork values are sharply higher at midday – up $3.64 at $83.90.  Bellies and picnics are sharply higher.  Loins, butts, and hams are higher.  Ribs are lower. 

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