Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet at the end of the week following the light trade on Thursday and the active trade on Wednesday.  Bids have surfaced at $196 dressed.  Asking prices for cattle left on showlists are around $125 live in the South and $198 dressed in the North.  There may be a little cleanup business this afternoon, but it’s likely the bulk of the week’s business has wrapped up for the week. 

Boxed beef is higher at midday on good demand for light offerings.  Choice is $1.33 higher at $271.83 and Select is $.72 higher at $264.55.  The Choice/Select spread is $7.28. 

At the Mitchell Livestock Auction in South Dakota, compared to last week a higher undertone was noted on steers up to 700 pounds.  Steers 700 to 1100 pounds were $1 to $5 higher with instances of up to $8 to $9 higher on steers 750 to 800 pounds and 850 to 900 pounds.  There was a lower undertone noted on heifers up to 650 pounds.  Heifers 650 to 950 pounds were $2 to $6 higher.  There were many load lots in the day’s offering and demand was good.  Receipts were down on the week and up on the year.  Feeder supply included 67 percent steers and 95 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 801 to 845 pounds brought $137.25 to $148.50 and feeder steers 856 to 894 pounds brought $134.50 to $142.60.  Medium and Large 1 feeder heifers 812 to 833 pounds brought $124 to $134 and feeder heifers 851 to 898 pounds brought $126 to $128.85. 

Cash hogs are weak at midday with moderate negotiated numbers.  All eyes remain on the availability of market-ready barrows and gilts.  Prices have been supported recently by the strong demand for US pork on the global market and domestically.  That’s expected to continue.  Daily slaughter runs have been running relatively high. Barrows and gilts at the National Daily Direct are $.17 lower with a base range of $94 to $103 and a weighted average of $98.64.  Prices at the regional direct markets were not reported due to confidentiality. 

The Midwest cash markets are closed today.  At Illinois, slaughter sow prices were weak with moderate demand for light to moderate offerings at $68 to $80.  Barrow and gilt prices were steady with good demand for moderate to heavy offerings at $65 to $70.  Boars ranged from $30 to $40 and $12 to $20. 

Pork values are sharply higher at midday – up $4.74 at $115.74.  Bellies, loins, butts, and picnics were all sharply higher.  Ribs and hams were sharply lower.