Market News

Midday cash livestock markets

A quiet start to Friday for direct cash cattle trade following the light to moderate business that’s taken place this week.  Asking prices for cattle left on showlists are around $124 plus live in the South and $200 plus dressed in the North.  The bulk of the week’s business has wrapped up, but there could be some cleanup trade trickle in sometime Friday. Live deals this week have been at mostly $123 to $124, steady with last week’s weighted averages, while dressed deals in the North were mostly $200, down $1 from the weighted average basis for Nebraska.

Boxed beef was mixed at midday on light to moderate demand for moderate offerings.  Choice is $1.92 lower at $316.08 and Select is $2.27 higher at $282.54.  The Choice/Select spread is $33.54. 

At the Valentine Livestock Auction in Nebraska, compared to two weeks ago steers were steady to $3 lower.  Lightweight yearling heifers were steady and heifers over 750 pounds were $3 to $7 lower.  The USDA says bidding was active, despite the lower market.  Most of the offering was coming off summer grass.  Receipts were up from two weeks ago and down slightly on the year.  Feeder supply included 64% steers and 98% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 856 to 896 pounds brought $155 to $162.25 and feeder steers 904 to 926 pounds sold for $155.5- to $161.  Medium and Large 1 feeder heifers 857 to 897 pounds brought $138.75 to $145.50 and feeder heifers 872 to 880 pounds brought $142.75 to $147.50. 

Cash hogs are about steady at midday with fairly light negotiated purchases.  Processors continue to monitor the availability of market-ready barrows and gilts and have been able to move their desired numbers at lower bids recently.  Demand for US pork on the global market and domestically has been strong, which the industry does expect to continue.  Barrows and gilts at the National Daily Direct are $.04 lower with a base range of $79 to $89.25 and a weighted average of $81.57.  Prices at the regional direct markets were not reported at midday due to confidentiality. 

At Illinois, slaughter sow prices were mostly $1 lower with good demand for light to moderate offerings at $59 to $75.  Barrows and gilts were $1 to $2 lower with good demand for moderate offerings at $49 to $59.  Boars ranged from $30 to $40 and $12 to $18. 

Pork values are sharply higher at midday – up $6.13 at $112.10.  Hams were up nearly $21 at midday and bellies up almost $16.  Butts and ribs were also higher.  Picnics and loins were sharply lower.