Midday cash livestock markets
There’s a light direct cash cattle trade underway. Live deals in the South are at $138, about $2 lower than last week’s weighted average. Some other scattered bids have been reported at $138 live in the South and $230 to $237 dressed in the North. Asking prices are at $140 to $142 live in the South and $239 dressed in the North. More business is expected to develop before the end of the week. Today’s Fed Cattle Exchange was another non-starter. There were 1,195 head offered with no head sold.
Boxed beef is lower at midday on light demand for moderate offerings. Choice is $.97 lower at $266.59 and Select is $.01 lower at $246.69. The Choice/Select spread is $19.90.
At the Ozarks Regional Stockyard in Missouri, compared to last week steer and heifer calves were $3 to $7 higher while yearlings were $5 to $10 higher. The USDA says demand was very good on a light supply of calves and moderate supply of yearlings. There were several pot load drafts of yearlings included. Receipts were up on the week and down on the year. Feeder supply included 63% steers and 64% of the offering was over 600 pounds. Medium and Large 1 feeder steers 836 pounds brought $168.50 and feeder steers 854 pounds brought $166.10. Medium and Large 1 feeder heifers 501 to 544 pounds brought $156 to $166 and feeder heifers 757 to 794 pounds brought $147 to $148.50.
Cash hogs are higher at midday with solid negotiated purchases. Processors were more aggressive in their procurement efforts and bid up to move their desired numbers. Demand for US pork has been strong, helping provide price support. The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct is $2.52 higher with a base range of $112.50 to $124.50 and a weighted average of $117.33; the Iowa/Minnesota is $2.77 higher with a weighted average of $122.93; the Western Corn Belt is $2.13 higher with a weighted average of $122.29. The Eastern Corn Belt was not reported due to confidentiality.
Butcher hog prices at the Midwest cash markets are steady at $76. At Illinois, slaughter sow prices were $1 lower with light demand for light offerings at $41 to $53. Barrows and gilts were steady with light demand for light offerings at $71 to $80. Boars ranged from $45 to $50 and $10 to $15.
Pork values are higher at midday – up $2.08 at $112.94. Bellies are sharply higher. Ribs are also higher. Picnics and butts are higher. Hams and loins are lower.