Market News

Midday cash livestock markets

Direct cash cattle trade activity is picking up.  Bids have surfaced at $138 to $140 live in the South and $222 dressed.  Asking prices are at $142 live in the South and $224 dressed in the North.  Packer inquiry is expected to improve as the day progresses.  Today’s Fed Cattle Exchange had an offering of 1,352 head and none sold as they did not meet the reserve prices of $140 to $142. 

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.60 higher at $258.50 and Select is $.68 lower at $248.16.  The Choice/Select spread is $10.34. 

At the Ozarks Regional Stockyards in Missouri, compared to last week steer calves under 650 pounds were steady to $3 higher and heavier weight steers were $3 to $6 higher.  Heifer calves were steady to $5 higher.  The USDA says demand was good on a moderate supply.  Receipts were down on the week and the year.  Feeder supply included 49% steers and 36% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 553 to 590 pounds brought $184 to $199 and feeder steers 602 to 649 pounds brought $176 to $189.  Medium and Large 1 feeder heifers 508 to 545 pounds brought $155 to $168 and feeder heifers 550 to 596 pounds brought $149 to $158. 

While no comparison is available, cash hog markets opened the day with solid negotiated purchases.  Demand for US pork on the global market has been strong.  That is expected to continue in the near-term, but long-term demand concerns do add some pressure to prices.  The industry continues to monitor the availability of market-ready hogs.  And processors have been more aggressive in their procurement efforts recently and have been working hard to move their desired numbers.  Hogs weights at the Iowa/Minnesota are at 288.1 pounds, down 0.6 pounds on the week and up 1.3 pounds on the year. Barrows and gilts at the National Daily Direct have no comparison but a base range of $98 to $112 and a weighted average of $102.27.  The Iowa/Minnesota has no comparison but a weighted average of $110.16 and the Western Corn Belt has a weighted average of $110.40.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $70. 

At Illinois, slaughter sow prices were $2 higher with moderate demand for moderate to heavy offerings at $74 to $84.  Barrows and gilts were $3 higher with moderate demand for moderate offerings at $66 to $73.  Boars ranged from $40 to $45 and $20 to $25. 

Pork values are sharply higher at midday – up $4.05 at $108.53.  Hams are sharply higher.  Bellies and loins are higher.  Ribs, butts, and picnics are lower.