Market News

Midday cash livestock markets

Direct cash cattle trade activity is starting to pick up.  The are a few scattered bids that have surfaced at $138 live in the South.  Asking prices in the South are around $143 to $145 live, however, they haven’t been established in the North yet.  There could be some scattered trade develop yet today, but it’s likely the bulk of the week’s business will hold out until midweek or later. 

Boxed beef was lower at midday on light demand for moderate offerings.  Choice was $1.05 lower at $276.53 and Select was $.80 lower at $261.22.  The Choice/Select spread was $15.31. 

At the Joplin Regional Stockyards in Missouri, compared to last week feeder steers under 600 pounds were $3 to $8 higher, heavier weights were steady.  Feeder heifers were $3 to $9 higher, heifers under 500 pounds were in the highest demand.  The USDA says demand was good to very good for the heavy supply.  Receipts were down on the week and the year.  Feeder supply included 61% steers and 54% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 650 to 696 pounds brought $157 to $166 and feeder steers 753 to 797 pounds brought $156 to $167.50.  Medium and Large 1 feeder heifers 500 to 549 pounds brought $145 to $161 and feeder heifers 552 to 597 pounds brought $144 to $161. 

Cash hogs are higher at midday with moderate negotiated purchases.  Processors continue to monitor the availability of market-ready barrows and gilts.  Demand for US pork on the global market has been strong, which is expected to continue.  But there are long-term demand concerns and that is limiting price gains. Barrows and gilts at the National Daily Direct are $.32 higher with a base range of $55 to $58 and a weighted average of $55.42; both the Iowa/Minnesota and the Western Corn Belt had a weighted average of $55.98.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $3 higher at $62. At Illinois, slaughter sow prices were steady with moderate demand for heavy offerings at $62 to $72, barrows and gilts were steady with moderate demand for moderate offerings at $32 to $39, and boars ranged from $15 to $25 and $10 to $15. 

Pork values are higher at midday, up $1.82 at $89.53.  Butts and bellies are both sharply higher.  Hams, ribs, and loins are higher.  Picnics are lower. 

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