Market News

Midday cash livestock markets

A light round of direct cash cattle trade is underway following the very light business that took place on Tuesday.  Live deals in Kansas are at $119, which is $1 lower than last week’s weighted averages.  The rest of cattle country has been quiet through midday.  Packer inquiry could pick up as the day progresses.  Asking prices are at $120 plus live in the South and $200 plus dressed in the North. Today’s Fed Cattle Exchange had an offering of 3,367 head, of which 487 actually sold at $119. 

Boxed beef was higher at midday on good demand for moderate offerings.  Choice is $1.07 higher at $265.95 and Select is $.99 higher at $249.57.  The Choice/Select spread is $16.38. 

At the Ozarks Regional Stockyards in Missouri, compared to last week feeder steers were $3 to $5 lower while feeder heifers were steady to $1 higher.  The USDA says demand was moderate to good on a moderate supply.  Feeder supply included 46% steers and 59% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 649 pounds brought $157 to $170 and feeder steers 650 to 696 pounds brought $154 to $169.  Medium and Large 1 feeder heifers 602 to 626 pounds brought $145 to $155.25 and feeder heifers 650 to 682 pounds brought $142.50 to $151. 

Cash hogs are lower at midday with solid negotiated purchases.  Processors continue to monitor the availability of market-ready barrows and gilts.  Strong demand for US pork on the global market and domestically has been largely supportive to prices, the industry doesn’t anticipate that changing anytime soon.  However, should a disruption occur, it would like cause prices to plummet.  Hog weights are at 278.2, which is down 0.1 of a pound from last week and down 4.2 pounds on the year.  Barrows and gilts at the National Daily Direct are $.71 lower with a base range of $104.50 to $110 and a weighted average of $$$$106.36.  Prices at the regional direct markets were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are steady at $75 and lower in Red Oak, Iowa at $72. At Illinois, slaughter sow prices were $2 to $3 higher with good demand for heavy offerings at $59 to $72.  Barrow and gilt prices were steady with moderate to good demand for heavy offerings at $71 to $76.  Boars ranged from $45 to $50 and $10 to $12. 

Pork values are sharply higher at midday – up $2.83 at $123.17.  Hams are sharply higher. Picnics are higher.  Bellies, ribs, loins, and butts were all lower. 

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