Market News

Midday cash livestock markets

Another quiet day for direct cash cattle trade.  It looks like the bulk of the week’s business is essentially wrapped up for the week.  Asking prices for cattle left on showlists are around $137 to $138 live in the South and $220 dressed in the North.  Deals this week have been at $134 to $137, mostly $136 to $137 live, which is generally $2 lower than last week’s weighted averages.  Dressed deals in the North have been at mostly $218, $2 lower than last week’s weighted average basis in Nebraska. 

Boxed beef was higher to sharply higher at midday on solid demand for light offerings.  Choice is $1.92 higher at $284.78 and Select is $.48 higher at $273.24.  The Choice/Select spread is $11.54.

At the Mobridge Livestock Exchange in South Dakota, higher undertones were noted on both steers and heifers.  The USDA says demand was very good for grass-type cattle, especially for load lots.  There was moderate to good demand for packages and loads of feeding-type cattle.  There were many attractive quality calves on offer.  Flesh varied from light to moderate plus and the market was moderate to active.  Receipts were up on the week and on the year.  Feeder supply included 70% steers and 63% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 645 pounds brought $171 to $187 and feeder steers 650 to 690 pounds brought $167.50 to $184.50.  Medium and Large 1 feeder heifers 500 to 535 pounds brought $174 to $182.50 and feeder heifers 665 to 685 pounds brought $152 to $165. 

Cash hogs opened sharply lower with fairly light negotiated purchases.  The industry continues to monitor the availability of market-ready barrows and gilts.  Demand for US pork on the global market has been strong, at least for now.  However, there are long-term demand concerns, which has been putting pressure on prices.

Barrows and gilts at the National Daily Direct are $3.21 lower with a base range of $62 to $65.75 and a weighted average of $62.07.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $44. At Illinois, slaughter sow prices were steady with moderate demand for light to moderate offerings at $31 to $54.  Barrows and gilts were steady with moderate demand for moderate offerings at $40 to $46.  Boars were $20 to $25 and $10 to $15.

Pork values are sharply lower – down $4.13 at $91.15.  Bellies, hams, and picnics were all sharply lower.  Loins were lower.  Butts and picnics are sharply higher. 

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