Market News

Midday cash livestock markets

Direct cash cattle trade is picking up.  There’s been light to moderate business that’s been reported across much of cattle country.  Dressed deals in the North are at $200, which is $4 higher than last week’s weighted averages.  Live deals are at $126.  Bids in other parts of cattle country are at $126 live in the South and $200 dressed in the North.  Asking prices are holding around $126 plus live in the South and $201 plus dressed in the North.  There was a light trade that took place in Texas at $124 to $125 live, which is steady to $1 higher than last weeks’ weighted averages.  There were also a few scattered deals reported in other cattle feeding areas.  The Fed Cattle Exchange had an offering of 2,692 head, of which 394 sold at $125.50 to $125.75. 

Boxed beef is lower at midday on light demand for solid offerings.  Choice is $1.41 lower at $283.35 and Select is $.44 lower at $262.10.  The Choice/Select spread is $21.25.   

At the Philip Livestock Auction in South Dakota, compared to last week feeder steers under 450 pounds were steady, steers 450 to 650 pounds were $2 to $4 higher, steers 650 to 700 pounds were steady.  Feeder heifers under 450 pounds were steady, heifers 450 to 600 pounds were $2 to $4 higher, heifers 600 to 650 pounds were $2 higher, and heifers 850 to 900 pounds were steady.  The USDA says demand was very good for several long strings and many load lots and packages of feeder steers and feeder heifers.  All of which sold on an active to very active market.  The entire offering was home raised, had spring and fall vaccinations, and carried light to moderate flesh.  Feeder supply included 65% steers and 19% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 553 to 599 pounds brought $170.50 to $184.50 and feeder steers 602 to 646 pounds brought $168 to $183.75.  Medium and Large 1 feeder heifers 500 to 549 pounds brought $154 to $175.50 and feeder heifers 601 to 635 pounds brought $152.50 to $157.50. 

Cash hogs are lower at midday with solid negotiated purchases.  Processors continue to move their desired numbers at lower prices and the industry is keeping an eye on the availability of market-ready barrows and gilts.  Demand for US pork on the global market and domestically has been strong, which is expected to continue.  But, some long-term demand concern is creeping in and prices have reflected that. Barrows and gilts at the National Daily Direct are $.49 lower with a base range of $62 to $65 and a weighted average of $62.76; the Iowa/Minnesota had a weighted average of $63.26; the Western Corn Belt had a weighted average of $63.24.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 higher at $62. At Illinois, slaughter sow prices are were steady with good demand for moderate to heavy offerings at $50 to $60.  Barrows and gilts were steady with moderate demand for moderate offerings at $39 to $46.  Boars ranged from $20 to $30 and $10 to $18. 

Pork values are sharply higher – up $3.36 at $97.68.  Hams jumped more than $20 to start the day.  Butts are higher.  Loins, ribs, and bellies are lower to sharply lower. 

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