Market News

Midday cash livestock markets

Direct cash cattle trade activity is still quiet.  Bids have been slow to surface.  Asking prices are at $140 live in the South, while the North has been quiet.  Some business could develop yet today – but it is more than likely significant trade volume will be delayed until midweek or later. 

Boxed beef is mixed at midday on light demand for moderate offerings.  Choice is $1.75 lower at $266.94 and Select is $.04 higher at $245.28.  The Choice/Select spread is $21.65. 

At the Joplin Regional Stockyards in Missouri, compared to last week steers are $5 to $8 higher and feeder heifers are steady to $4 higher.  The USDA says supply was heavy with very good demand.  Receipts were up on the week and the year.  Feeder supply included 61% steers and 76% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 647 pounds brought $180 to $197 and feeder steers 850 to 897 pounds brought $162.85 to $176.50.  Medium and Large 1 feeder heifers 650 to 696 pounds brought $156 to $165 and feeder heifers 700 to 739 pounds brought $152 to $160.75. 

Cash hogs are higher at midday with fairly light negotiated purchases.  The industry continues to monitor the availability of market-ready hogs.  Demand for US pork on the global market and domestically has been strong, helping provide support to prices.  Processors started their day a little more aggressive in their procurement efforts and bid up to move their desired numbers. Barrows and gilts at the National Daily Direct are $.31 higher with a base range of $111.50 to $123.75 and a weighted average of $114.54; both the Iowa/Minnesota and the Western Corn Belt are $.57 higher with a weighted average of $119.26.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $77. 

Pork values are sharply higher at midday – up $3.30 at $112.33.  Bellies are up more than $13.  Ribs and hams are both sharply higher.  Picnics, loins, and butts are lower to sharply lower.