Market News

Midday cash livestock markets

It’s a quiet Friday for direct cash cattle trade activity.  There could be a handful of cleanup deals reported, but it’s more than likely the bulk of the week’s business has wrapped up.  Live deals in the South had a range of $137 to mostly $140, steady with the previous week’s business.  Dressed deals ranged from $225 to mostly $230, below the prior week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday on fairly light demand for light offerings.  Choice is $1.23 higher at $258.43 and Select is $.52 lower at $243.82.  The Choice/Select spread is $14.59. 

At the MO-Kan Livestock Market in Missouri, compared to last week feeder steers were uneven, with the majority of steers steady to $5 lower.  Heifers were steady to $3 higher.  There was an exception, a large consignment of all-black high-quality calves that weighed 550 pounds, all were met with a higher undertone.  The USDA says demand was moderate to very good for the moderate supply.  Receipts were up on the week and the year.  Feeder supply included 89% steers and 14% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 450 to 497 pounds brought $191 to $205.50 and feeder steers 555 pounds brought $199.25.  Medium and Large 1 feeder heifers 459 to 495 pounds brought $160 to $169 and feeder heifers 537 pounds brought $182. 

Cash hogs were lower at midday with fairly light negotiated purchases.  Demand for US pork on the global market is facing some uncertainty and that’s adding pressure to prices.  Processors are moving their desired numbers and much lower prices.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $3.68 lower with a base range of $98 to $107.75 and a weighted average of $101.28 and the Western Corn Belt had a weighted average of $102.61.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $70. At Illinois, slaughter sow prices were steady with light demand for moderate offerings at $69 to $80.  Barrows and gilts were steady with light to moderate demand for light to moderate offerings at $65 to $74.  Boars ranged from $40 to $50 and $5 to $15. 

Pork values are lower at midday – down $.39 at $98.21.  Hams and loins are both lower.  Picnics, ribs, bellies, and butts were higher to sharply higher.