Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet through midday and it’s likely the bulk of the week’s business has wrapped up.  But it is possible that a little cleanup trade may take place in some areas.  Asking prices for cattle left on showlists are around $120 plus live in the South and $198 plus in the North.  So far this week, Northern dressed business has had a wide range of $194 to $202, mostly $195, which is $3 lower than last week’s weighted average basis in Nebraska.  Southern live deals have been marked at $117 to $119, mostly $119, about $1 lower than last week’s business. 

Boxed beef was higher at midday on good demand for moderate offerings.  Choice is $.42 higher at $266.56 and Select is $1.24 higher at $251.01.  The Choice/Select spread is $1.24. 

At the Valentine Livestock Auction in South Dakota, compared to two weeks ago, feeder steers were unevenly steady and 650-to-700-pound heifers were $5 to $6 higher.  The USDA says demand was good with warmer weather in the area.  Receipts were down marginally on the year.  Feeder supply included 70% steers and 88% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 768 to 783 pounds brought $168.25 to $174.50 and feeder steers 852 to 899 pounds brought $151.50 to $164.25.  Medium and Large 1 feeder heifers 653 to 692 pounds brought $156.25 to $163.25 and feeder heifers 766 to 767 pounds brought $153.25 to $153.75. 

Cash hogs prices were not reported at midday due to confidentiality.   There were just moderate negotiated purchases reported.  Processors continue to monitor the availability of market-ready barrows and gilts.  Overall, the strong demand for US pork on the global market and domestically has been largely supportive to prices.  The industry does expect that to continue.  However, should a disruption occur, it would likely send prices tumbling. 

Butcher hog prices at the Midwest cash markets are steady at $75. 

Pork values are sharply higher at midday – up $4.72 at $127.03.  All of the primals are higher to sharply higher with hams up more than $11 and bellies up nearly $9. 

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!