Market News

Midday cash livestock markets

A quiet start to the day for direct cash cattle trade activity.  There has been a light trade in the South so far this week with deals at mostly $138, about $2 lower than last week’s weighted averages.  There was some scattered business reported in Nebraska and Iowa at mostly $239, below last week’s weighted average basis in Nebraska.  Asking prices have been restated around $140 to $142 live in the South and $240-plus dressed in the North. 

Boxed beef is lower at midday on light demand for light offerings.  Choice is $1.79 lower at $264.78 and Select is $.96 lower at $245.03.  The Choice/Select spread is $19.75. 

At the Winter Livestock Auction in Kansas, compared to last week feeder steers 800 to 925 pounds were $3 to $5 lower on light receipts.  Feeder heifers 800 to 900 pounds were $1 to $3 higher on light receipts.  There were not enough calves offered for an accurate market test.  The USDA says demand was moderate.  Receipts were down on the week and the year.  Feeder supply included 49% steers and 95% of the offering was over 600 pounds.  Medium and large 1 feeder steers 887 to 896 pounds brought $154.10 to $154.60 and feeder steers 920 to 935 pounds brought $153 to $153.25.  Medium and Large 1 feeder heifers 788 pounds brought $151.35 and feeder heifers 819 to 829 pounds brought $145.50 to $151. 

Cash hogs are higher at midday with solid negotiated purchases. Processors bid up to start the day to move their desired numbers.  Demand for US pork has been relatively strong on the global market and domestically, helping provide some price support.  The industry continues to monitor the availability of market-ready hogs.  Barrows and gilts at the National Daily Direct are $1.28 higher with a base range of $114 to $125 and a weighted average of $118.61; the Iowa/Minnesota is $.90 higher with a weighted average of $123.83; the Western Corn Belt is $1.52 higher with a weighted average of $123.81.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets were steady at $76. At Illinois, slaughter sow prices were $1 lower with light demand for light offerings at $40 to $52.  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 firm at midday – up $.09 at $111.24.  Hams, loins, and picnics are all higher.  Bellies are sharply lower.  Ribs and butts are lower. 

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