Market News

Midday cash livestock markets

Direct cash cattle trade is off to a slow start flowing the light to moderate trade that’s taken place this week.  Bids have surfaced in Nebraska at $119 live.  Asking prices are around $120 plus live in the South and $192 dressed in the North.  Deals this week have ranged from $119 to $120 live and mostly $191 dressed in the North.  Those are about steady to slightly higher than last week’s weighted averages.  Trade volumes so far this week are light in some areas, so additional business is expected to still develop.

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $2 higher at $317.08 and Select is $.71 lower at $296.45.  The Choice/Select spread is $20.63. 

At the Hub City Livestock Auction in South Dakota, compared to last week steers 650 to 1000 pounds were $1 to $5 higher, except 750 to 800 pounds were not well compared, with instances of up to $8 higher on 650 to 750 pounds.  There were more heifers this week with the best comparison on heifers 900 to 950 pounds were $2 higher.  The USDA says demand was good to very good for another large offering.  There were many packages, loads, and strings available, including quite a few light-fleshed cattle fitted for grass programs.  Those saw very good demand.  Quality was comparable to a week ago with many attractive on offer.  Flesh varied from light to heavy.  The market was active. Receipts were up on the week and the year.  Feeder supply included 54 percent steers and 46 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 857 to 896 pounds brought $129.50 to $130.50 and feeder steers 901 to 945 pounds brought $125.75 to $134.50.  Medium and Large 1 feeder heifers 813 to 833 pounds brought $123 to $126.20 and feeder heifers 855 to 894 pounds brought $119.35 to $125.35.   

Cash hogs are lower at midday with light negotiated purchases.  Packers continue to monitor the availability of market-ready barrows and gilts.  The strong demand for US pork on the global market and domestically has been very supportive to prices recently.  The industry expects that to continue.  Barrows and gilts at the National Daily Direct are $1.55 lower with a base range of $104.44 and $121 and weighted average of $110.06.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash market are $3 higher at $80. At Illinois, slaughter sow prices were steady to $2 lower with moderate demand for moderate to heavy offerings at $48 to $60.  Barrow and gilt prices were firm with good demand for heavy offerings at $76 to $80.  Boars ranged from $40 to $45 and $15 to $20. 

Pork values are sharply higher – up $6.34 at $120.45.  Bellies jumped more than $33.  Picnics and butts were also sharply higher.  Hams were firm.  Ribs and loins were lower.