Midday cash livestock markets
Direct cash cattle trade is off to a quiet start as buyers and sellers are busy taking inventory. Bid and asking prices have yet to be established and it is likely the bulk of the week’s business will be delayed until midweek or later. Deals last week were at mostly $218 dressed in the North, generally steady with the prior week’s business. Live deals were at mostly $137, $1 to $1.50 higher than the previous week’s trade.
Boxed beef was higher at midday on moderate demand for light offerings. Choice is $.35 higher at $292.76 and Select is $1.69 higher at $284.02. The Choice/Select spread is $8.74.
In Missouri last week, compared to the previous week feeders were unevenly steady from $2 lower to $2 higher. The USDA says the supply was moderate as winter weather kept many cattle home. Demand was moderate with the most demand for 500 to 600 pounds. Receipts were down from the prior week and the year. Feeder supply included 58% steers and 53% of the offering was over 600 pounds. Medium and Large 1 feeder steers 600 to 649 pounds brought $145 to $186 and feeder steers 650 to 698 pounds brought $148 to $178.50. Medium and Large 1 feeder heifers 550 to 598 pounds brought $135 to $173.50 and feeder heifers 600 to 649 pounds brought $134 to $164.50.
Cash hogs opened higher with a light negotiated run. Packers haven’t been as aggressive moving their numbers recently, and continue to monitor the availability of market-ready barrows and gilts. Demand for US pork on the global market and domestically has been strong, but there are some long-term demand concerns which have been adding some pressure to prices. Barrows and gilts at the National Daily Direct are $1.36 higher with a base range of $60 to $75 and a weighted average of $61.81. Prices at the regional direct markets were not reported due to confidentiality.
Butcher hog prices at the Midwest cash markets are steady at $47. At Illinois, slaughter sow prices were firm with moderate demand for light to moderate offerings at $29 to $42. Barrows and gilts were mostly $1 lower with moderate demand for moderate offerings at $38 to $46. Boars ranged from $15 to $20 and $10 to $15.
Pork values are sharply higher at midday – up $8.89 at $102.18. Bellies and hams were up $22 and $14 respectively. Picnics, butts, and ribs were all sharply higher. Loins were lower.