Market News

Midday cash livestock markets

Cash cattle trade continues to be quiet ahead of the extended weekend. The bulk of this week’s business is likely wrapped up. Asking prices for cattle left on showlists are around $138 in the South and $225 dressed in the North. Southern live deals have come in mostly $1 lower than last week’s weighted averages at $137 while Northern dressed trade has taken place mostly at $223, $3 lower than last week’s weighted average basis in Nebraska.

Boxed beef is higher at midday. Choice is $1.21 higher at $264.14 and Select is up $1.29 at $245.35. The Choice/Select spread is $18.79.

At the Lonestar Stockyards in Wildorado, Texas, compared to last week, feeder steers and heifers traded mostly steady. Steer and heifer calves were sharply higher with lighter weights but better quality. USDA says there was good demand and active trade with several load lots available noting plus quality. Feeder supply included 33 percent steers and 38 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers weighing 476 to 484 pounds brought $193 to $198 and feeder steers from 759 to 849 pounds brought $142.50 to $143. Medium and Large 1 feeder heifers weighing 450 to 460 pounds brought $161 to $171 and feeder heifers from 634 to 713 pounds brought $141 to $142.

Cash hogs are lower at midday. 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 are $.62 lower with a base range of $104 to $116.50 and a weighted average of $111.34. The Iowa/Minnesota has a weighted average of $113.10; the Western Cornbelt a weighted average of $114.46; the Easter Cornbelt was not reported due to confidentiality.

Pork values are higher at midday, up $1.82 at $108.89. Hams, ribs, picnics, butts, and loins are higher; bellies are softly lower.

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