Market News

Midday cash livestock markets

Direct cash cattle trade activity has been quiet.  It looks like the bulk of the week’s business has wrapped up, however, some cleanup trade could take place before the end of the day Friday.  Asking prices for cattle left on showlists are around $138 to $140 live in the South and $227 plus dressed in the North.  For the week, Southern live deals have had a range of $136 to $138, mostly $138, $2 lower than last week’s weighted averages.  Northern dressed deals have had a range of $223 to $228, mostly $226, about $3 lower than last week’s weighted average basis in Nebraska. 

Boxed beef is mixed at midday with light to moderate demand for light offerings.  Choice is $1 higher at $261.47 and Select is $.05 lower at $245.97.  The Choice/Select spread is $15.50. 

At the Hub City Livestock Auction in South Dakota, compared to the best test on steers 850 to 900 pounds were mostly steady and steers 901 to 1000 pounds were $3 to $5 lower.  Feeder heifers 800 to 850 pounds and 900 to 950 pounds were mostly steady.  The USDA says there was another large offering of strings, loads, and packages of home-raised and backgrounded cattle.  Demand was moderate to good for feeding-type cattle, with very good demand for grass-type.  Quality was mostly average to attractive.  Receipts were up on the week and down on the year.  Feeder supply included 66% steers and 93% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 858 to 893 pounds brought $142 to $158.50 and feeder steers 952 to 987 pounds brought $140 to $146.40.  Medium and Large 1 feeder heifers 801 to 831 pounds brought $139.50 to $145.50 and feeder heifers 911 to 936 pounds brought $131 to $135.50. 

Cash hogs are higher at midday with strong morning purchases.  Processors were more aggressive in their procurement efforts and bid 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 strong, helping provide price support. Barrows and gilts at the National Daily Direct are $1.74 higher at $102 to $116 and a weighted average of $110.23; there was no comparison but a weighted average of $113.61; the Western Corn Belt is $1.23 higher with a weighted average of $113.74.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $68.   At Illinois, slaughter sow prices were $3 lower with light to moderate demand for light to moderate offerings at $55 to $67.  Barrows and gilts were steady with light to moderate demand for light to moderate offerings at $65.

Pork values were not released at midday due to packer submission problems. 

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