Market News

Midday cash livestock markets

A quiet start to direct cash cattle trade activity following the active day on Wednesday.  Bids are scarce. Asking prices are firm at $123 live in the South and $200 dressed in the North.  Look for more business to develop over the balance of the week.  Northern dressed deals this week have had a range of $195 to $198, mostly $197 to $198, steady to $1 higher than last week’s weighted average basis in Nebraska.  Southern live business has had a full range of $117 to $122, mostly $121 to $122, generally $1 to $2 higher than last week’s weighted averages. 

Boxed beef was sharply higher at midday on good demand for light offerings.  Choice is $2.68 higher at $292.02 and Select is $1.73 higher at $272.88.  The Choice/Select spread is $19.14. 

At the Springfield Livestock Auction in Missouri, compared to last week feeder steers were $5 to $10 higher and feeder heifers were $3 to $7 higher.  The USDA says demand was good on a good supply.  Receipts were up on the week and down on the year.  Feeder supply included 52% steers and 53% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 660 to 683 pounds brought $159 to $170.50 and feeder steers 721 to 749 pounds brought $159.50 to $164.50.  Medium and Large 1 feeder heifers 500 to 539 pounds brought $146 to $161.50. 

Cash hog prices at the regional direct markets were not reported at midday due to confidentiality.  The five-day rolling average at the National Daily Direct is $100.78.  The industry continues to monitor a couple of things – the availability of market-ready barrows and gilts and the demand strength on the global market and domestically.  The strong demand has helped provide price support and that is expected to continue.  However, if a disruption to demand would occur, it would likely negatively impact prices. 

Butcher hog prices at the Midwest cash markets are $3 higher at $73. 

Pork values are higher at midday – up $.42 at $123.41.  Butts and ribs were sharply higher.  Picnics, loins, and bellies were all higher.  Hams were sharply lower.