Market News

Midday cash livestock markets

Direct cash cattle trade activity is picking up.  Bids are on the table at $112 to $114 live and $180 to $181 dressed.  Asking prices for cattle left on showlists are around $116 live in the South and $185 plus in the North.  There was a light trade that took place on Thursday with Southern live deals marked at $114, that’s fully steady with the previous week’s business.  In the North, the majority of the business was done on a live basis at $113 to $114, that’s also about steady with the prior week.  There was some scattered dressed business that was marked at $180, fully steady with the previous week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday on moderate demand for light offerings.  Choice is $.36 higher at $239.21 and Select is $.02 lower at $227.45.  The Choice/Select spread is $11.75. 

At the Mitchell Livestock Auction in South Dakota, compared to last week feeder steers 600 to 700 pounds were steady to $4 higher, steers 750 to 900 pounds were $3 to $6 higher.  Feeder heifers 500 to 700 pounds were $2 to $6 higher and heifers 700 to 800 pounds were steady to $3 higher.  The USDA says demand was good.  Receipts were about steady on the week and down on the year.  Feeder supply included 71 percent steers and 85 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 703 to 747 pounds brought $142.50 to $151 and feeder steers 750 to 793 pounds brought $139 to $149.50.  Medium and Large 1 feeder heifers 600 to 648 pounds brought $136.50 to $146.50 and feeder heifers 650 to 699 pounds brought $135.50 to $151.50. 

Cash hog prices at midday were not reported due to confidentiality. There were moderate negotiated purchases.  The industry remains optimistic demand for US pork will continue its strength on the global market and domestically.  That’s been very supportive to prices recently.  But, there are also lingering concerns about the supply situation.  The availability of market-ready hogs has been more than ample and daily slaughter totals continue to push higher.  Both contribute to additional pork coming online.  Should a demand disruption occur, it would be detrimental to pork prices. 

Butcher hog prices at the Midwest cash markets are steady in Dorchester, Wisconsin at $60 to $66 and in Garnavillo, Iowa at $70. 

At Illinois, slaughter sow prices were $1 to $3 higher with very good demand for light to moderate offerings at $52 to $62.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $43 to $50.  Boars ranged from $20 to $25 and $10 to $13. 

Pork values are sharply higher at midday – up $2.95 at $93.76.  Hams and picnics are sharply higher.  Loins and bellies are weak.  Ribs and butts are sharply lower.