Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet on this Friday. A little cleanup trade could take place before the end of the day, but the bulk of the week’s business has wrapped up.  For the week, Southern live deals ranged from $136 to $138, mostly $138, $2 lower than the previous week’s weighted averages.  Northern dressed deals ranged from $223 to $228, mostly $226, $3 lower than the prior week’s weighted average basis in Nebraska.

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $1.08 higher at $262.78 and Select is $1.03 lower at $245.03.  The Choice/Select spread is $17.75. 

At the Mitchell Livestock Auction in South Dakota, compared to last week there was a lower undertone noted on steers up to 900 pounds.  Steers 900 to 1050 pounds were $3 to $5 lower.  Heifers 800 to 1000 pounds were steady to $4 lower.  The USDA says demand was good with many large load lots in the heavier cattle in the day’s offering.  Receipts were down on the week and the year.  Feeder supply included 34% steers and 93% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 827 to 848 pounds brought $149.50 to $154.10 and feeder steers 916 to 933 pounds brought $143.50 to $144. Medium and Large 1 feeder heifers 857 to 892 pounds brought $130.50 to $136.60 and feeder heifers 907 to 934 pounds brought $130.25 to $132.75. 

Cash hogs are higher at midday with solid negotiated purchases.  Demand for US pork on the global market and domestically has been strong. That’s helping to provide price support. The industry continues to monitor the availability of market-ready hogs. Processors were a little more aggressive in their efforts to start the day to move their desired numbers. Barrows and gilts at the National Daily Direct are $2.02 higher with a base range of $104 to $118 and a weighted average of $112.25; the Iowa/Minnesota is $.98 higher with a weighted average of $114.59; the Western Corn Belt is $1.37 higher with a weighted average of $115.11.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $2 higher at $70. At Illinois, slaughter sow prices were $5 lower with light demand for light offerings at $50 to $62.  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 sharply higher – up $5.18 at $108.64.  Hams are sharply higher.  Bellies, picnics, ribs, and butts are higher to sharply higher.  Loins are lower.