Market News

Midday cash livestock markets

A light direct cash cattle trade is underway.  Live deals in the South are at $137, $1 lower than last week’s business in Texas and about steady in Kansas.  A few scattered bids in other areas are at $137.  Asking prices are at $138 to $140 live in the South and $222 plus in the North.  Look for more business to develop over the balance of the week. 

Boxed beef is higher at midday – on strong demand for solid offerings.  Choice is $1.76 and $277.80 and Select is $1.96 higher at $268.46.  The Choice/Select spread is $9.34. 

At the Callaway Livestock Center in Missouri, compared to last week steers 400 to 600 pounds were fully steady to firm with spots of $2 higher.  Steers 600 to 700 pounds were $2 to $5 higher with the most demand for steers 650 to 700 pounds.  Feeder heifers 400 to 700 pounds were firm with a higher undertone.  The USDA says demand was good on a heavy offering of feeders.  Quality was very good and calves sold on an active market.  Receipts were up on the year.  Feeder supply included 59% steers and 47% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 639 pounds brought $166 to $178.50 and feeder steers 705 to 793 pounds brought $145 to $149.  Medium and Large 1 feeder heifers 610 to 640 pounds brought $155 to $165 and feeder heifers 660 to 671 pounds brought $159.25 to $160.50. 

Cash hogs opened lower with moderate negotiated purchases.  The industry continues to monitor the availability of market-ready hogs.  Processors have been moving their desired numbers so far this week without having to bid up aggressively.  Demand for US pork on the global market has been strong, and that is expected to continue.  However, there are some long-term demand concerns which have been putting some pressure on prices. Barrows and gilts at the National Daily Direct are $1.58 lower with a base range of $62 to $70 and a weighted average of $64.27.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hogs at the Midwest cash markets are steady at $44. At Illinois, slaughter sow prices were mostly $2 to $4 lower with moderate demand for heavy offerings at $31 to $46.  Barrows and gilts were mixed with moderate demand for moderate offerings at $40 to $46.  Boars ranged from $15 to $22 and $10 to $15. 

Pork values are about steady at midday – up $.04 at $86.46.  Loins, ribs, and butts are higher to sharply higher.  Picnics, hams, and bellies are lower to sharply lower.