Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet through midday.  Asking prices are around $140 live in the South, while the North has been quiet.  Bids are non-existent so far today.  Looking for more business to pick up as the day progresses.  There were just a handful of deals reported on Monday at $138 live, fully steady with last week’s business. 

Boxed beef is higher at midday on solid demand for moderate offerings.  Choice is up $.64 at $264.92 and Select is $1.91 higher at $246.14.  The Choice/Select spread is $18.78.

At the Joplin Regional Stockyards in Missouri, compared to last week steers were steady to $3 higher.  Feeder heifers under 700 pounds were steady to $4 higher with heavier weights trading steady.  The USDA says supply was moderate to heavy with good demand.  Receipts were up on the week and the year.  Feeder supply included 54% steers and 50% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 501 to 548 pounds brought $188 to $205 and feeder steers 813 to 846 pounds brought $148 to $154.50.  Medium and Large 1 feeder heifers 503 to 541 pounds brought $155 to $169 and feeder heifers 753 to 778 pounds brought $145 to $146.25. 

There were no comparisons available at midday for cash hogs prices and there were very few negotiated purchases.  Demand for US pork on the global market has overall been very strong, helping provide price support.  But there are long-term concerns that create uncertainty in the market.  The industry continues to monitor the availability of market-ready hogs.  And processors are moving their desired numbers without having to get too aggressive in their procurement efforts. 

Barrows and gilts at the National Daily Direct have no comparison but a base range of $100 to $113.50 and a weighted average of $111.39.  Both the Iowa/Minnesota and the Western Corn Belt had no comparison but weighted average of $111.40.  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 $1 lower with light demand for light offerings at $47 to $59.  Barrows and gilts were steady with light to moderate demand for light to moderate offerings at $65 to $74.  Boars range from $45 to $50 and $10 to $15. 

Pork values are higher at midday – up $.81 at $107.86.  Ribs and bellies are both sharply higher.  Hams and picnics are higher.  Butts and loins are lower.