Market News

Midday cash livestock markets

It’s a quiet Friday for direct cash cattle trade and it looks like the bulk of the week’s business has wrapped up.  Southern live deals had a full range of $117.50 to $119 and Northern dressed deals ranged from $187 to $192.  Asking prices for cattle left on showlists are around $119 plus live in the South and $191 plus dressed in the North. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.41 lower at $305.96 and Select is $3.04 higher at $292.40.  The Choice/Select spread is $13.56. 

At the Apache Livestock Auction in Oklahoma, compared to last week feeder steers were steady and feeder heifers were $1 to $2 lower.  Steer and heifer calves were not enough comparable cattle for market test.  The USDA says quality was good to attractive with moderate demand.  Receipts were up on the week and the year.  Feeder supply included 46 percent steers and 74 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 800 to 842 pounds brought $124.75 to $128.75 and feeder steers 850 to 872 pounds brought $120 to $124.75.  Medium and Large 1 feeder heifers 718 to 745 pounds brought $118 to $123 and feeder heifers 869 to 893 pounds brought $112.50 to $116. 

Cash hogs are lower at midday with fairly light negotiated purchases.  Processors have been aggressive in their procurement efforts, but took a little bit of a breather to start the day on Friday.  Overall, the strong demand for US pork on the global market and domestically has been very supportive to prices.  That’s expected to continue.  Packers continue to monitor the availability of market-ready barrows and gilts. Barrows and gilts at the National Daily Direct are $1.47 lower with a base range of $108 to $123 and a weighted average of $109.81; the Iowa/Minnesota and the Western Corn Belt had no comparison but weighted averages of $120.77. The Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash market were steady at $70. At Illinois, slaughter sow prices were weak with moderate demand for light offerings at $52 to $62.  Barrow and gilt prices were firm with good demand for heavy offerings at $75 to $79.  Boars ranged from $40 to $45 and $15 to $20. 

Pork values are sharply higher at midday – up $3.36 at $117.22.  Bellies jumped more than $22 to start the day.  Loins, ribs, picnics, and butts were all higher to sharply higher.  Hams were lower. 

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