Market News

Midday cash livestock markets

Direct cash cattle trade activity is off to a slow start following the light to moderate business that took place on Tuesday.  Asking prices are around $140 live in the South and $228 plus dressed in the North.  While the bulk of the week’s business has taken place, there could be some cleanup trade take place over the next couple of days.  So far this week, Southern live deals have been marked at $137 to mostly $138, about $2 lower than last week’s weighted averages.  Northern dressed business has been at mostly $226, $3 lower than last week’s weighted average basis in Nebraska.  Today’s Fed Cattle Exchange had an offering of 1,864 head, of which none sold as they did not meet the reserve prices ranging from $133 to $142. 

Boxed beef is mixed at midday on light to moderate demand for moderate offerings.  Choice is $.59 higher at $261.07 and Select is $2.19 lower at $246.  The Choice/Select spread is $15.07. 

At the Ozarks Regional Stockyards in Missouri, compared to last week steer calves were unevenly steady from $4 lower to $4 higher with spots of $8 higher on 550-to-650-pound steers.  Yearling steers were steady to firm.  Heifer calves were steady to $4 lower.  The USDA says demand was moderate on a moderate to heavy supply, which included several large drafts of calves and yearlings.  Receipts were up on the week and down slightly on the year.  Feeder supply included 48% steers and 38% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 505 to 546 pounds brought $190 to $206 and feeder steers 550 to 592 pounds brought $187 to $200.  Medium and Large 1 feeder heifers 611 to 637 pounds brought $150 to $152 and feeder heifers 775 pounds brought $143. 

Cash hogs were higher at midday with a big round of negotiated purchases to start the day.  Processors have been aggressive in their procurement efforts and have been bidding up to move their desired numbers.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork on the global market has been relatively strong, providing price support. Barrows and gilts at the National Daily Direct are $3.86 higher with a base range of $98 to $114 and a weighted average of $108.49.  There were no comparisons available at the Western Corn Belt and the Eastern Corn Belt, but weighted averages of $112.51 and $106.02.  Prices at the Iowa/Minnesota were not reported due to confidentiality. 

Butcher hogs at the Midwest cash markets are steady in Dorchester, WI and Garnavillo, Iowa at $68.  They’re higher at Red Oak, Iowa at $72. At Illinois, slaughter sow prices were $5 lower with moderate demand for moderate offerings at $58 to $70.  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 higher at midday – up $3.07 at $105.18.  Hams, butts, and picnics all sharply higher.  Loins are higher.  Ribs and bellies are lower.