Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet to start the week.  Bids and asking prices have yet to be established.  Significant trade volumes will likely be delayed until midweek or later.  The bulk last week’s trade took place at midweek with some cleanup business on Thursday and Friday.  Southern live trade had a full range of $118 to $122, mostly $121, $4 higher than last week’s weighted averages.  Northern dressed deals had a full range of $192 to $196, mostly $195 to $196, about $5 to $6 higher than the bulk of the prior week’s trade. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $1.34 lower at $270.83 and Select is $1.20 higher at $265.27.  The Choice/Select spread is $5.56. 

In South Dakota last week, compared to the previous week feeder steers were $2 to $6 higher, except 650 to 750 pounds were steady.  Feeder heifers under 600 pounds were $4 to $6 higher, over 600 pounds were $2 to $3 higher.  The USDA says demand was very good for feeder cattle.  There were large receipts as producers were holding on to cattle just a little longer.  There are also more replacement-type heifers headed to sale barns, coming from the worst of the drought areas in the state.  Receipts were up on the week and the year.  Feeder supply included 63 percent steers and 85 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 801 to 849 pounds brought $135.50 to $149 and feeder steers 901 to 949 pounds brought $128.75 to $142.70.  Medium and Large 1 feeder heifers 653 to 699 pounds brought $134 to $150.25 and feeder heifers 753 to 799 pounds brought $127.50 to $142.50. 

Cash hogs are higher at midday with fairly light negotiated purchases.  Processors remain aggressive in their procurement efforts and all eyes are on the availability of market-ready barrows and gilts.  Strong demand on both the global market and domestically has been very supportive to prices and that is expected to continue, especially as African swine fever continues to create supply problems in some parts of the world. Barrows and gilts at the National Daily Direct are $.92 higher with a base range of $98.62 to $102.50 and a weighted average of $99.57; the Iowa/Minnesota and the Western Corn Belt had no comparison but a weighted average of $101.77.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

The Midwest cash markets had no comparison but were at $66, which is well above last week’s prices.  At Illinois, slaughter sow prices were steady to $2 lower with moderate demand for heavy offerings at $68 to $78.  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 lower at midday – down $3.83 at $109.34.  Bellies and butts were both sharply lower.  Loins were lower.  Picnics, hams, and ribs were firm to higher. 

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