Market News

Midday cash livestock markets

There’s another round of light, scattered direct cash cattle trade underway.  Live deals in the South and in Eastern Nebraska are at $120, fully steady with the rest of the week’s business.  It’s likely the bulk of the week’s trade has wrapped up, but there could be a little cleanup business trickle in this afternoon.  Asking prices for cattle left on showlists are around $120 plus live in the South and $191 plus dressed in the North. 

Boxed beef is lower at midday on light demand for light offerings.  Choice is $1.05 lower at $339.50 and Select is $.16 lower at $313.  The Choice/Select spread is $26.50. 

At the Mitchell Livestock Auction in South Dakota, compared to last week feeder steers 850 to 1100 pounds were steady to $1 higher.  Feeder heifers 800 to 950 pounds were steady to $2 higher.  There was an unevenly steady undertone noted on heifers over 950 pounds.  The USDA says 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 45 percent steers and 95 percent of the offering was over 600 pounds.  Medium and Large 1 feeder steers 857 to 897 pounds brought $133.50 to $137.75 and feeder steers 906 to 909 pounds brought $135.25 to $136.75.  Medium and Large 1 feeder heifers 850 to 898 pounds brought $118.25 to $127.25 and feeder heifers 923 to 937 pounds brought $120.75 to $122.85. 

Cash hogs are sharply higher at midday with moderate negotiated purchases.  Processors are aggressive in their procurement efforts and are bidding up to get their desired numbers.  Strong demand on the global market and domestically for US pork has provided a lot of price support as of late and the industry expects that to continue.  Barrows and gilts at the National Daily Direct are $3.33 higher with a base range of $99.84 to $113 and a weighted average of $105.81, the Eastern Corn Belt had no comparison but a weighted average of $103.21.  Prices at the Iowa/Minnesota and the Western Corn Belt were not reported due to confidentiality. 

At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $38 to $50.  Barrow and gilt prices were steady with moderate to good demand for moderate to heavy offerings at $71 to $76.  Boars ranged from $45 to $50 and $12 to $18. 

Pork values are sharply higher at midday – up $6.07 at $137.59.  Ribs and bellies are both sharply higher.  Hams, loins, and butts were all higher.  Picnics were sharply lower. 

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