Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. This week’s business has been light to moderate at mostly $138 on the live basis, down $2 from the previous week, with dressed sales mainly at $220, $4 lower. Widespread activity is likely wrapped up for the week, but scattered trade is still probable. Asking prices for what’s left on the show list are $140 live and $222 dressed. The USDA says last week’s beef export sales were a marketing year high at 27,500 tons. China was the leading buyer, with Japan taking second place.

Boxed beef at midday was solidly higher with moderate movement. Choice was up $1.32 at $254.02 and Select gained $2.42 to $247.21.

At the Hub City Livestock Auction feeder cattle sale in South Dakota, compared to the previous week, steers weighing 600 to 800 pounds were mostly steady and 800 to 850 pound and 900-to-950-pound steers were $2 to $4 higher, while 850-to-900-pound steers were $2 to $4 lower. Heifers weighing 600 to 850 pounds were $2 to $5 lower. The USDA says quality was average to attractive, with very good demand for grass type cattle and good to very good demand for feeding type cattle and replacement heifers. Medium and Large 1 feeder steers weighing 700 to 800 pounds ranged from $154 to $175 and 800 to 900-pound steers sold at $140 to $160.50. Medium and Large 1 feeder heifers weighing 700 to 800 pounds were reported at $135.25 to $158 and 800 to 900-pound heifers brought $132.50 to $146.

In the second event this week for the Fed Cattle Exchange, 1,830 head were offered, no sales were reported.

Cash hogs are mixed with a moderate opening negotiated run for the major direct markets. After yesterday’s national direct finish with lower prices and light negotiated sales, it looks like many buyers may have near-term needs covered. The USDA says pork exports of 25,400 tons were down 40% on the week. Mexico was the biggest buyer, followed by China.

National direct barrows and gilts opened $.42 lower with a base price range of $96 to $112 for a weighted average of $101.56, while Iowa/Southern Minnesota and the Western Corn Belt were both down $.81 at $109.93. Butcher hogs at the Midwest cash markets are steady at $70. Illinois direct sows are $2 higher at $69 to $80 with moderate demand for moderate offerings. Barrows and gilts are steady at $63 to $69 on moderate demand for light to moderate offerings. Boars range from $17 to $44.

Pork at midday was $.97 lower at $106.77. Loins, picnics, ribs, and hams were sharply lower, canceling out a modest gain in butts and a sharply higher move in bellies.