Market News

Midday cash livestock markets

Direct cash cattle trade activity is improving.  Bids have surfaced in Nebraska at $126 to $126.50 live.  Asking prices are around $124 plus live in the South, while not fully established in the North.  Showlists this week were higher across all major feeding areas.  Business is expected to start developing today or tomorrow. 

Boxed beef was mixed at midday on light to moderate demand for light offerings.  Choice is $3.84 lower at $317.36 and Select is $1.25 higher at $282.70.  The Choice/Select spread is $34.66. 

At the Callaway Livestock Center in Missouri, compared to last week, steer calves 400 to 500 pounds were steady to firm on a light test, with 500 to 550 pounds and 600 to 700 pounds steers were $3 to $4 higher, steers 550 to 600 pounds were $5 to $7 higher, and 4 pot-loads of big yearling steers 880 to 905 pounds were $4 to $8.  Feeder heifers 450 to 600 pounds were firm to $4 higher and 600-to-700-pound heifers were $2 to $5 higher.  The USDA says demand was good with supply moderate with the best demand on the good quality 5 weight steers and heavy-weight yearling steers over 800 pounds all of which sold on a very active market.  Receipts were up on the week and down on the year.  Feeder supply included 64% steers and 56% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 603 to 645 pounds brought $160 to $168.50 and feeder steers 901 to 905 pounds brought $140.50 to $142.75.  Medium and Large 1 feeder heifers 503 to 544 pounds brought $151.50 to $157 and feeder heifers 650 to 681 pounds brought $140 to $150. 

Cash hogs are higher at midday with moderate negotiated purchases.  Processors continue to monitor the availability of market-ready barrows and gilts.  The demand strength of US pork on the global market and domestically has been largely supportive to prices.  The industry expects that to continue.  However, should a disruption occur, or demand on the global market wanes, it could put pressure on prices. Barrows and gilts at the National Daily Direct are $.86 higher with a base range of $114 to $137.50 and a weighted average of $120.34.  The Iowa/Minnesota had a weighted average of $130.02 and the Western Corn Belt had a weighted average of $130.90.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash market are steady at $80. At Illinois, slaughter sow prices were steady with good demand for heavy offerings at $40 to $50.  Barrow and gilt prices were $1 lower with good demand for heavy offerings at $83 to $90.  Boars ranged from $45 to $50 and $12 to $18. 

Pork values are lower at midday – down $1.52 at $119.25.  Ribs dropped nearly $18 in the morning session.  Butts, loins, and hams were all lower to sharply lower.  Picnics were about steady.  Bellies were higher.