Market News

Midday cash livestock markets

Direct cash cattle trade activity is picking up.  There are a few live deals that have been reported in parts of Nebraska at $114, about steady with last week’s weighted averages.  More bids are surfacing at $114 live and $179 to $181 dressed.  Asking prices are at $115 to $116 live in the South and $185 plus in the North.  There was a light, scattered round of business that took place on Wednesday with Southern live deals marked at $114, fully steady with last week’s weighted averages.  Northern dressed business was at mostly $181, roughly $.50 higher than the previous week’s weighted average basis in Nebraska.  Look for additional business to develop over the balance of the week. 

Boxed beef is about steady to lower at midday on light demand for very light offerings.  Choice is $.08 lower at $240.67 and Select is $.55 lower at $229.24.  The Choice/Select spread is $11.43. 

At the Huss Livestock Market in Nebraska, compared to last week’s light test steers under 650 pounds were $8 to $10 higher and over 650 pounds were steady to $5 higher.  Heifers were steady.  The USDA says demand was good for grass-type cattle and moderate to good for feeders.  There were heavier supplies of cattle this week as many were playing catchup following the bitterly cold temperatures that canceled many sales last week.  Feeder supply included 57 percent steers and 87 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 801 to 845 pounds brought $134.50 to $142.50 and feeder steers 854 to 890 pounds brought $132.75 to $138.50.  Medium and Large 1 feeder heifers 703 to 726 pounds brought $128.25 to $133.50 and feeder heifers 803 to 842 pounds brought $123.50 to $133.   

Cash hogs are higher again at midday with solid negotiated purchases.  Packers have been aggressive in the procurement efforts and remain optimistic demand strength for US pork both domestically and on the global market will continue.  But, supply concerns do linger as the availability of market-ready hogs is more than ample and daily slaughter totals continue at very high levels.  Barrows and gilts at the National Daily Direct are $1.07 higher with a base range of $70 to $78 for a weighted average of $75.03.  There was no comparison, but the Iowa/Minnesota had a weighted average of $75.03 and the weighted average for the Western Corn Belt is $75.39. 

Butcher hog prices at the Midwest cash markets are steady at $48.  At Illinois, slaughter sow prices were firm with very good demand for heavy offerings at $56 to $68.  Barrows and gilts were firm with good demand for moderate to heavy offerings at $50 to $54.  Boars ranged from $25 to $30 and $12 to $15. 

Pork values are sharply higher at midday – up $2.24 at $94.39.  Bellies, hams, and picnics are all sharply higher.  Butts are higher.  Ribs and loins are sharply lower.