Market News

Midday cash livestock markets

Cash cattle trade is unsurprisingly quiet this morning with the week’s trade mostly wrapped up. Asking prices for cattle left on showlsits are around $138 live in the South and $225 dressed in the North. Southern deals this week 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 up $.96 at $264.93 and Select is $2.26 higher at $246.69. The Choice/Select spread is $18.24.

At the Winter Livestock Auction in Pratt, Kansas, compared to last week, feeder steers from 650 to 950 pounds sold $8 to $12 higher. Feeder heifers 750 to 950 pounds sold $2 to $4 higher, and heifers from 600 to 750 pounds sold $3 to $4 lower. USDA says demand was good on light supply. Receipts were down sharply on the week and year. Feeder supply included 67 percent steers and 96 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers weighing 818 to 825 pounds brought $154 to $160 and feeder steers from 905 to 947 pounds brought $146.10 to $152.50. Medium and Large 1 feeder heifers weighing 655 to 694 pounds brought $140 to $147.35 and feeder heifers from 755 to 790 pounds brought $138 to $144.85.

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 $2.80 lower with a base range of $107.50 to $116.50 and a weighted average of $108.54. The Iowa/Minnesota was not reported due to confidentiality; the Western Cornbelt has a weighted average of $114.95; the Easter Cornbelt was not reported due to confidentiality.

At Illinois, slaughter sow prices are $1 lower with light to moderate demand for light to moderate offerings ranging from $43 to $55. Barrow and gilt prices were steady at $65 to $74 with light to moderate demand for light to moderate offerings.

Pork values are higher at midday, up $.39 at $108.52. Hams and ribs are higher; bellies, loins, butts, and picnics are lower.