Market News

Midday cash livestock markets

A light direct cash cattle trade is underway.  Deals in Nebraska are around $180 dressed about $2 lower than the bulk of last week’s business.  Live deals in Kansas are at $114 live, fully steady with last week’s weighted averages.  Bids in other parts of cattle country have surfaced around $114 live.  Asking prices in the South are $116 live in the South, while the North has been quiet. 

Boxed beef is mixed at midday on light to moderate demand for fairly light offerings.  Choice is $1.37 lower at $233.31 and Select is $.23 higher at $226.40.  The Choice/Select spread is $6.91. 

At the Ozarks Regional Stockyard in Missouri, compared to last week, steer calves were $3 to $6 higher while heifer calves were steady to $3 higher.  Yearling steers were $2 to $3 higher with yearling heifers not well tested.  The USDA says demand was good and improved throughout the day on the  heavy supply.  There were several buyers on hand and the market was active.  Receipts were up on the week and the year.  Feeder supply included 55 percent steers and 48 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 502 to 548 pounds brought $165 to $183 and feeder steers 700 to 747 pounds brought $132 to $144.  Medium and Large 1 feeder heifers 500 to 540 pounds brought $135 to $144 and feeder heifers 604 to 637 pounds brought $127 to $136. 

Cash hogs are higher at midday with moderate negotiated purchases.  Packers continue to bid up to move their desired numbers.  Demand strength has been largely supportive to prices and the industry is optimistic that will continue.  However, there are still lingering concerns about the heavy supplies.  The availability of market-ready barrows and gilts is more than ample and daily slaughter totals continue at high levels.  That adds more pork to an already saturated market.  Hogs weights rose slightly this week to 287.1 pounds, that’s up 0.3 pounds on the week and up 0.8 pounds on the year. Barrows and gilts at the National Daily Direct are $1 higher with a base range of $75 to $83 and a weighted average of $79.42.  No comparisons at the Iowa/Minnesota and the Western Corn Belt, but weighted averages of $81.93 and $82.25. 

Butcher hog prices at the Midwest cash markets are steady at $52 and $50 in Dorchester, Wisconsin and Garnavillo, Iowa and $5 higher in Red Oak, Iowa at $53.  At Illinois, slaughter sow prices were $2 higher with very good demand for heavy offerings at $62 to $74.  Barrow and gilt prices were $1 to $2 higher with good demand for moderate to heavy offerings at $53 to $58.  Boars ranged from $25 to $30 and $12 to $15. 

Pork values are lower at midday – down $.65 at $94.22.  Picnics, loins, and hams are lower to sharply lower.  Ribs are weak.  Butts are higher and bellies are sharply higher. 

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