Market News

Midday cash livestock markets

Direct cash cattle markets are quiet. Some cleanup is still possible, but it looks like widespread business has wrapped up for the week. Asking prices for what’s left on the show list are $140 live and $222 dressed. This week’s business has been light to moderate, mainly at $138 on the live basis, down $2 from the previous week, and $220 dressed, $4 lower.

Boxed beef at midday was higher with light to moderate movement. Choice is up $1.14 at $255.08 and Select is $2.85 higher at $250.22.

At the Winter Livestock Auction feeder cattle sale in Kansas, compared to the previous week, steers weighing 600 to 700 pounds were steady and 700 to 975-pound steers were steady to $3 lower, while steer calves weighing 400 to 600 pounds were $7 to $10 lower. Feeder heifers weighing 700 to 975 pounds were $4 to $5 lower, with 400-to-700-pound heifer calves $10 to $12 lower. Fancy cattle had a premium to $8 to $10. The USDA says demand was moderate with receipts down on the week and the year. Medium and Large 1 feeder steers weighing 700 to 800 pounds sold at $149 to $165 and 800-to-900-pound steers ranged from $138 to $151. Medium and Large 1 feeder heifers weighing 700 to 800 pounds brought $131.50 to $138.25 and heifers weighing 800 to 900 pounds were reported at $125 to $135.25.

Cash hogs are steady to lower with light to moderate opening negotiated numbers at the major direct markets. It looks like many buyers have the needed near-term numbers in hand after yesterday’s big spike at the major direct markets, but that could change at the close. Another round of late winter weather has caused some movement issues in parts of the region.

National direct barrows and gilts are $2.63 lower with a base price range of $95 to $112 and a weighted average of $98.93. The major regional direct markets were not reported due to confidentiality. Iowa/Southern Minnesota and the Western Corn Belt both have five-day rolling averages of $109.37. The butcher hog markets in Dorchester, Wisconsin and Garnavillo, Iowa were closed. Illinois direct sows are steady at $69 to $80 on moderate demand for light to moderate offerings. Barrows and gilts are steady at $63 to $69, also with moderate demand for light to moderate offerings. Boars range from $17 to $44.

Pork at midday is $5.32 higher at $109.52. Hams jumped $21.68, with butts, picnics, ribs, and bellies also gaining ground. Loins were down $4.37.