Market News

Midday cash livestock markets

Another round of scattered, light direct cash cattle trade activity is underway.  Live deals are being reported in Kansas at $120, fully steady with the week’s previous business.  Bids have surfaced in the North at $191 dressed and $120 live.  Asking prices for cattle left on showlists are around $120 plus live in the South and $192 plus dressed in the North.  Southern live deals this week have been at mostly $120 and Northern dressed trade has been at mostly $191.   

Boxed beef is higher at midday on good demand for light offerings.  Choice is $1.36 higher at $341.52 and Select is $1.63 higher at $313.51.  The Choice/Select spread is $28.01. 

At the Hub City Livestock Auction in South Dakota, compared to last week, the best test was on steers 900 to 1000 pounds and they were $2 to $3 lower.  The best test was on heifers 800 to 850 pounds and they were steady to $2 lower.  The USDA says demand was moderate to good for the day’s offering of many packages and loads and a couple of strings.  Flesh varied, from light to some heavy.  Quality also varied, from plain to attractive.  The market was moderate to active.  Receipts were down on the week and the year.  Feeder supply included 52 percent steers and 90 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 858 to 891 pounds brought $130.50 to $139 and feeder steers 911 to 927 pounds brought $129 to $132.  Medium and Large 1 feeder heifers 653 to 698 pounds brought $130 to 4137.50 and feeder heifers 878 to 890 pounds brought $122.70 to $124. 

Cash hogs are sharply lower at midday with moderate negotiated purchases.  Processors pulled back a little after several days of moving big numbers.  Prices have seen a lot of support recently because of strong demand for US pork on the global market and domestically.  The industry does expect that to continue, however, should a disruption occur, it would likely send prices tumbling. Barrows and gilts at the National Daily Direct are $3.08 lower with a base range of $99.83 to $112 and a weighted average of $102.48.  Prices at the regional direct markets are not reported due to confidentiality. 

Butcher hog prices at the Midwest cash market are steady at $75. At Illinois, slaughter sow prices were $1 to $2 lower with moderate demand for heavy offerings at $38 to $50.  Barrow and gilt prices were $1 higher with moderate to good demand for moderate to heavy offerings at $71 to $76.  Boars ranged from $4 to $50 and $12 to $18. 

Pork values are higher at midday – up $2.24 at $131.83.  Loins and hams are sharply higher.  Butts and bellies are also higher.  Ribs are sharply lower, and picnics are lower. 

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