Market News

Midday cash livestock markets

There’s another round light direct cash cattle trade that is underway.  Deals are fully steady with Tuesday’s business.  Live deals in Kansas are at $122 and in Nebraska at $124 live and $195 dressed.  Asking prices for cattle on showlists are at $122 plus live in the South and $195 to $197 dressed in the North. Look for more business to develop over the day.  The Fed Cattle Exchange had an offering of 6,049 head with 889 head sold at $119.25 to $122.50.  On Tuesday, Northern dressed deals were at $193 to $195, $2 to $4 higher than last week’s weighted average basis in Nebraska.  Southern live trade was at $120 to $122, steady to $2 higher than last week’s weighted averages. 

Boxed beef is mixed at midday on light demand for moderate offerings.  Choice is $2.92 lower at $331.51 and Select is $6.56 lower at $291.72.  The Choice/Select spread is $39.79. 

At the Ozarks Regional Stockyards in Missouri, compared to last week steer calves were steady to $6 lower, while heifer calves were steady to $2 higher.  Yearling steers were $2 to $4 higher, while yearling heifers were not well tested.  The USDA says demand was good on a light supply of peewee calves, and a moderate supply of stocker and feeder calves.  Receipts were down on the week and the year.  Feeder supply included 52% steers and 52% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 701 to 746 pounds brought $135 to $147 and feeder steers 805 to 839 pounds brought $138 to $141.  Medium and Large 1 feeder heifers 500 to 535 pounds brought $134 to $145 and feeder heifers 557 to 598 pounds brought $132 to $146. 

Cash hogs are higher at midday with solid negotiated purchases to start the day.  Processors have been aggressive lately in their procurement efforts and prices have reflected that.  The strong demand for US pork on the global market and domestically have been largely supportive of prices.  The industry expects that to continue.  Hog weights this week dropped to 281.5 pounds, which’s a nearly 3-pound decline from last week and 5.1 pounds below year-ago levels.  Barrows and gilts at the National Daily Direct are $.76 higher with a base range of $113.09 to $136 and a weighted average of $122.14.  The Western Corn Belt has a weighted average of $131.05.  The Iowa/Minnesota and the Eastern Corn Belt 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 good demand for heavy offerings at $38 to $49.  Barrow and gilt prices were $2 to $3 higher with good demand for heavy offerings at $80 to $84.  Boars ranged from $45 to $50 and $12 to $18. 

Pork values are higher at midday – up $2.11 at $124.62.  Bellies jumped nearly $37 to start the day.  Loins, ribs, hams, picnics, and butts are lower to sharply lower. 

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