Market News

Midday cash livestock markets

Direct cash cattle trade is off to a typically quiet start to a Monday with bids and asking prices slow to surface.  Buyers and sellers are busy taking inventory.  It’s likely the bulk of the week’s business will take place Midweek or later.  Last week’s business had live trade at mostly $123 to $124, which is generally steady with the prior week’s weighted averages.  Dressed deals were mostly $196 to $198, $1 to $3 lower than the previous week’s weighted average basis in Nebraska. 

Boxed beef was mixed at midday on light to moderate demand for light offerings.  Choice is $.76 lower at $302.56 and Select was $.52 higher at $275.05.  The Choice/Select spread is $27.51. 

In Missouri last week, feeder steers and heifers were steady to $5 lower.  The biggest decline was on bawling, unweaned steer calves.  The supply of feeders was light to moderate with the majority of the offering under 600 pounds.  The weakest demand was on calves that were unweaned and not vaccinated as many producers aren’t willing to take on that kind of health risk.  Receipts were down on the week and the year.  Feeder supply included 50% steers and 53% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 648 pounds brought $135 to $175 and feeder steers 700 to 748 pounds brought $125 to $164.  Medium and Large 1 feeder heifers 550 to 599 pounds brought $130 to $159.75 and feeder heifers 600 to 648 pounds brought $127.50 to $163.50. 

Cash hogs are lower at midday with solid negotiated purchases.  Processors continue to move their desired numbers without having to bid up.  Demand for US pork continues to be strong on the global market and domestically, which has been supportive of prices recently.  But, there are long-term demand concerns and that creates additional volatility in the markets. Barrows and gilts at the National Daily Direct are $.80 lower with a base range of $72 to $81 and a weighted average of $76.13. Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois slaughter sow prices were steady with moderate demand for light to moderate offerings at $52 to $68.  Barrows and gilts were steady with moderate demand for moderate offerings at $45 to $55.  Boars ranged from $25 to $30 and $15 to $20. 

Pork values are sharply higher at midday – $5.59 at $116.36.  Hams, butts, bellies, picnics, and ribs were all higher to sharply higher.  Loins are sharply lower. 

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