Market News

Midday cash livestock markets

Another quiet start for direct cash cattle trade activity.  Bids and asking prices have yet to be established and it’s likely significant trade volume will hold out until at least midweek or later.  The fire at the JBS facility in Grand Island, Nebraska, which shut down the plant yesterday, did not impact the plant’s primary production facility and resumed operations today. 

Boxed beef was mixed at midday on light to moderate demand for moderate offerings.  Choice is $.74 lower at $325.19 and Select is $2.27 higher at $297.43.  The Choice/Select spread is $30.76.

At the Joplin Regional Stockyards in Missouri, compared to two weeks ago feeder steers under 750 pounds were $3 to $4 lower and weights over 750 pounds were steady.  Feeder heifers were steady.  The USDA says demand and supply were moderate.  Receipts were up from two weeks ago and about steady on the year.  Feeder supply included 45% steers and 52% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 558 to 576 pounds brought $171 to $175 and feeder steers 750 to 796 pounds brought $150 to $157.  Medium and Large 1 feeder heifers 600 to 648 pounds brought $151 to $157 and feeder heifers 751 to 780 pounds brought $140 to $147.50. 

Cash hogs are higher at midday with a solid negotiated run.  Packers were more aggressive in their procurement efforts and bid up to move larger numbers.  Demand has been strong for US pork on the global market and domestically, but there are concerns that could wane and prices have seen a lot of ups and downs recently. Barrows and gilts at the National Daily Direct are $.79 higher with a base range of $81.50 to $90.50 and weighted average of $84.11.  The Iowa/Minnesota had a weighted average of $84.80 and the Western Corn Belt had a weighted average of $84.82.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $72. At Illinois, slaughter sow prices were steady with moderate demand for moderate to heavy offerings at $63 to $79.  Barrows and gilts were weak with moderate demand for moderate offerings at $52 to $61.  Boars were $35 to $40 and $15 to $18. 

Pork values are sharply higher at midday – up $8.71 at $109.83.  Hams jumped nearly $26.  Loins, ribs, picnics, and bellies were all higher to sharply higher.  Butts were lower.