Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a quiet start again.  Bids and asking prices have yet to surface.  Showlists this week are higher to mostly higher across all feeding areas.  It’s likely the bulk of the week’s business will be delayed until midweek or later. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.63 higher at $267.66 and Select is $.68 higher at $259.58.  The Choice/Select spread is $8.08. 

At the Callaway Livestock Center in Missouri, compared to two weeks ago, steer calves weighing 450 to 600 pounds were mostly $5 to $7 higher, there was a light test of steers 600 to 700 pounds which sold $2 to $4 higher.  Steers over 700 pounds sold with a higher undertone (there was a limited offering two weeks ago).  Feeder heifers under 650 pounds were steady to firm on a light test and yearling heifers over 650 pounds sold with a higher undertone.  The USDA says demand was good for a moderate offering and trade was active for steer calves and yearlings.  Receipts were up from two weeks ago and down on the year.  Feeder supply included 55% steers and 65% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 755 to 769 pounds brought $160 to $166 and feeder steers 871 to 897 pounds brought $157 to $162.35.  Medium and Large 1 feeder heifers 665 to 695 pounds brought $156.50 to $159.75 and feeder heifers 738 pounds brought $156.25.     

Cash hogs are about steady at midday with a fairly light negotiated run. Processors started the week off moving larger numbers, without having to aggressively bid up.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork on the global market and domestically has been strong, which is expected to continue.  However, there are some long-term demand concerns which is putting pressure on the overall price picture.  Barrows and gilts at the National Daily Direct are $.02 lower with a base range of $61.50 to $65 and a weighted average of $61.76.  Prices at the regional direct markets were not reported at midday due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $48. 

Pork values are higher at midday – up $1.26 at $87.28.  Loins are sharply higher.  Bellies, hams, and picnics are all higher.  Ribs and butts are lower to sharply lower.