Market News

Midday cash livestock markets

Direct cash cattle trade activity has been quiet.  Bids have yet to surface and some early asking prices have been floated around $116 live in the South, while the North remains quiet.  Showlists this week appear to be slightly higher in Texas, and lower in Kansas and Nebraska/Colorado.  It’s likely significant trade volume will be delayed until the latter half of the week. 

Boxed beef is higher at midday on good demand for moderate offerings.  Choice is $.65 higher at $240.63 and Select is $1.10 higher at $231.08.  The Choice/Select spread is $9.55. 

At the Callaway Livestock Center in Missouri, compared to two weeks ago, the best test was on steers 550 to 600 pounds and they were $3 to $7 higher.  Steers 700 to 800 pounds were $7 to $10 higher with spots of $12 higher.  Steers over 800 pounds sold with a higher undertone.  Feeder heifers had few good comparisons but sold with a firm to higher undertone.  The USDA says demand was good on a moderate offering. The best demand was on a good quality offering of steers weighing 600 to 900 pounds with several pot loads and part loads on offer.  Receipts were up from two weeks ago and down on the year.  Feeder supply included 72 percent steers and 66 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 711 to 731 pounds brought $150.50 to $151 and feeder steers 863 to 886 pounds brought $134 to $136.25.  Medium and Large 1 feeder heifers 550 to 596 pounds brought $138 to $145 and feeder heifers 765 pounds brought $125.75. 

Midday cash hog prices from the major direct markets have been delayed due to packer submission problems.  The market has been optimistic about the demand strength for US pork from the global market and domestically and that’s been supportive to prices.  However, the concern about heavy supplies remains at the forefront of the industry’s minds.  The availability of market-ready barrows and gilts is more than ample and daily slaughter totals continue at high levels.  The combination adds more pork to the market. 

Butcher hog prices at the Midwest cash markets are $2 lower at $48. At Illinois, slaughter sow prices were firm with very good demand for heavy offerings at $53 to $66.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $45 to $54.  Boars ranged from $25 to $30. 

Pork values are higher at midday – up $1.97 at $94.08.  Hams are sharply higher.  Ribs and butts are higher.  Loins are firm.  Bellies are about steady and picnics are sharply lower.