Market News

Midday cash livestock markets

It’s a quiet Friday for direct cash cattle trade activity following multiple days light to moderate business.  For the week, Southern live deals have been marked at mostly $138, generally steady (in Texas) to $2 lower (in Kansas) than last week’s weighted averages.  Another week of wide ranges for business in the North with deals anywhere from $230 to $240 dressed, mostly $234 which is about $4 higher than last week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $.45 higher at $265.11 and Select is $.19 higher at $245.13.  The Choice/Select spread is $19.98. 

At Winter Livestock in Kansas, compared to last week feeder steers 700 to 975 pounds were $3 to $7 lower.  Feeder heifers 700 to 950 pounds were $6 to $10 higher on a very light test.  Steer and heifer calves were not well tested.  The USDA says demand was good.  Receipts were down on the week and up on the year.  Feeder supply included 78% steers and 97% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 885 to 891 pounds brought $170.75 to $171.50 and feeder steers 976 to 993 pounds brought $164.50 to $166.  Medium and Large 1 feeder heifers 852 to 863 pounds brought $146 to $150 and feeder heifers 913 to 943 pounds brought $143 to $144.50. 

Cash hogs are higher at midday with solid negotiated purchases.  Processors started the day a little more aggressive in their procurement efforts and bid up to move their desired numbers.  Demand for US pork on the global market and domestically has been strong, helping provide prices support.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $1.32 higher with a base range of $112 to $125.50 and a weighted average of $119.93; the Iowa/Minnesota is $.77 higher with a weighted average of $124.60; the Western Corn Belt is $.79 higher with a weighted average of $124.60.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are $1 higher at $77. At Illinois, slaughter sow prices were $1 lower with light demand for light offerings at $39 to $51.  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 sharply higher at midday – up $3.21 at $112.98.  All of the primals were higher to sharply higher.