Market News

Midday cash livestock markets

A quiet end to the week for direct cash cattle trade.  While a little cleanup business could trickle in this afternoon, it’s likely the bulk of the week’s business has wrapped up.  Southern live deals were marked at $118 to $120, generally steady with last week’s trade.  Northern dressed deals had a full range of $189 to $196, mostly $190 to $191, also generally steady with last week’s business. 

Boxed beef is lower to sharply lower at midday on light demand for very light offerings.  Choice is $.48 lower at $337.77 and Select is $4.89 lower at $305.51.  The Choice/Select spread is $32.26. 

At the Ogallala Livestock Auction in Nebraska there was a higher undertone noted on all sales.  Buyers were active from start to finish on weaned, bawling fall calves, and yearling feeder cattle.  There were a lot of yearlings coming in off rye and early summer grass pastures.  The offering was mostly medium fleshed with a few light fleshed cattle in the run.  Feeder supply included 54% steers and 68% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 651 to 696 pounds brought $156.50 to $166 and feeder steers 704 to 739 pounds brought $150.50 to $162. Medium and Large 1 feeder heifers 601 to 645 pounds brought $145 to $154.50 and feeder heifers 653 to 696 pounds brought $135 to $146.50. 

Cash hogs are sharply lower at midday on very light negotiated purchases.  Processors continue to monitor the availability of market-ready barrows and gilts.  Prices have been supported recently by the strong demand for US pork on the global market and domestically.  Overall, that’s expected to continue.  But should a disruption occur, it would likely send prices tumbling. Barrows and gilts at the National Daily Direct are $5.17 lower with a base range of $104.45 to $130 and a weighted average of $109.89.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash market are steady at $75. At Illinois, slaughter sow prices were steady with moderate demand for light offerings at $38 to $49.  Barrow and gilt prices were firm with moderate demand for light offerings at $75 to $80.  Boars ranged from $45 to $50 and $12 to $18. 

Pork values are sharply higher at midday – up $6.64 at $140.69.  Bellies jumped more than $24 to start the day.  Hams, ribs, butts, and loins are all higher to sharply higher. Picnics are lower.

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