Market News

Midday cash livestock markets

A quiet Friday for direct cash cattle trade activity.  It looks like the bulk of the week’s business has wrapped up.  Asking prices for cattle left on showlists are around $138 live in the South and $220 dressed in the North.  There could be a little cleanup trade trickle in this afternoon, but it isn’t likely. .  So far this week dressed deals in the North have been at mostly $218, fully steady with last week’s weighted averages.  Many of those are marked for delayed delivery.  Live deals in the South have been at mostly $137, $1 to $1.50 higher than last week’s weighted averages. 

Boxed beef is mixed at midday on moderate demand for light offerings.  Choice is $.26 lower at $292.72 and Select is $.49 higher at $282.67.  The Choice/Select spread is $10.05. 

At the Ogallala Livestock Auction in Nebraska, compared to last week, steers were steady to $7 higher.  Heifers under 600 pounds were steady to $9 lower and heifers over 600 pounds were $2 to $8 higher.  The USDA says demand was good on a nice offering.  Receipts were up on the week and the year.  Feeder supply included 57% steers and 54% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 651 to 694 pounds brought $169 to $179.50 and feeder steers 702 to 748 pounds brought $161.50 to $174.50.  Medium and Large 1 feeder heifers 553 to 598 pounds brought $161 to $179.50 and feeder heifers 650 to 699 pounds brought $150.50 to $161.75. 

Cash hogs are lower at midday with light negotiated purchases. Demand for US pork has been relatively strong on the global market and domestically, but there are some long-term concerns which have been adding pressure to prices.  The industry continues to monitor the availability of market-ready hogs and processors are moving their desired numbers without having to aggressively bid up. Barrows and gilts at the National Daily Direct are $.69 lower with a base range of $60 to $68.75 with a weighted average of $69.45 and the Western Corn Belt had a weighted average of $64.69.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady – to slightly higher at $45 to $47.  The Walker Sale Barn in Iowa is reporting prices at $49 to $67. At Illinois, slaughter sow prices were steady with moderate demand for light to moderate offerings at $28 to $40.  Barrows and gilts were steady with moderate demand for moderate offerings at $41 to $47.  Boars ranged from $15 to $20 and $10 to $15. 

Pork values are sharply higher – up $8.05 at $100.29.  Bellies, hams, and butts are all sharply higher.  Ribs and picnics are higher.  Loins are lower.