Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet at midday as bids and asking prices have yet to be established.  Showlists this week are somewhat larger in Kansas and larger in Texas, Nebraska/Colorado.  Look for significant trade volume to be delayed until at least midweek or later.  Last week’s deals ranged from $112 to $114 live and $178 to $182 dressed. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.20 lower at $231.13 and Select is $2.48 higher at $223.33.  The Choice/Select spread is $7.80.

In South Dakota last week, compared to last week feeder steers under 750 pounds were steady to $2 lower, except 450 to 500 and 550 to 600 pounds were $1 to $2 higher, steers over 750 pounds were $2 to $5 lower, except 900 to 1000 pounds steers, which were steady.  Feeder heifers were $2 to $4 lower.  The USDA says demand was very good for light fleshed cattle for backgrounding, moderate demand for cattle bound for finishing yards.  Feeder supply included 57 percent steers and 82 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 700 to 749 pounds brought $129 to $154.50 and feeder steers 800 to 847 pounds brought $126 to $142.  Medium and Large 1 feeder heifers 600 to 649 pounds brought $132.50 to $150 and feeder heifers 701 to 747 pounds brought $123.75 to $139.50.

Cash hogs are lower at midday with lighter negotiated purchases.  The market looks to be taking a breather after several days pushing higher.  The industry, overall, is optimistic about demand for US pork on both the global market and here domestically.  But, heavy supplies are concerning.  The availability of market-ready barrows and gilts are more than ample and daily slaughter totals continue at very high levels, both are adding more pork to the market.  Barrows and gilts at the National Daily Direct are $2.38 lower with a weighted average of $80 to $85.50 with a weighted average of $81.20.  Prices at regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $50 and $52.  At Illinois, slaughter sow prices are $1 to $2 higher with very good demand for moderate to heavy offerings at $64 to $78.  Barrows and gilts were weak with good demand for moderate to heavy offerings at $52 to $59.  Boars ranged $25 to $30 and $12 to $15. 

Pork values are sharply higher – up $7.98 at $103.12.  Hams, bellies, and picnics are all sharply higher.  Ribs an butts are higher.  Loins are lower.