Market News

Midday cash livestock markets

There’s some light direct cash cattle business underway.  Deals are at $138 live in the South, that’s about steady with last week’s weighted averages in Texas and about $1 lower than in Kansas.  Some scattered live bids have surfaced in the North at $148.  Look for additional trade to take place over the balance of the week.  Today’s Fed Cattle Exchange had an offering of 1,628 head, just 265 head (all in one lot) sold at $138.   

Boxed beef is lower at midday on light demand for light offerings.  Choice is $1.59 lower at $265.55 and Select is $1.98 lower at $241.33.  The Choice/Select spread is $24.22. 

At the Interstate Regional Stockyards in Missouri, feeder steers under 600 pounds were nearly steady.  There was a large offering of steers over 625 pounds sold with a higher undertone with no recent comparable sales.  Feeder heifers under 600 pounds were steady to $5 higher with no comparisons over 600 pounds.  The USDA says demand was good on the heavy supply.  There were several consignments of backgrounded true yearling cattle.  Receipts were up on the week and the year.  Feeder supply included 61% steers and 45% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 573 to 590 pounds brought $188 to $189 and feeder steers 603 to 648 pounds brought $174 to $185.  Medium and Large 1 feeder heifers 454 to 491 pounds brought $168 to $177 and feeder heifers 558 to 561 pounds brought $169. 

Cash hogs are sharply higher at midday with big negotiated purchases.  Processors were very 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 support to prices.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $5.32 higher with a base range of $112.50 to $125 and a weighted average of $119.86; the Iowa/Minnesota is $4.43 higher with a weighted average of $123.69; the Western Corn Belt is $4.11 higher with a weighted average of $123.37.  Prices at the Eastern Corn Belt were not reported due to confidentiality.    

Butcher hog prices at the Midwest cash markets are steady at $77. At Illinois, slaughter sow prices were steady with good demand for heavy offerings at $40 to $52.  Barrows and gilts were steady with moderate demand for moderate offerings at $73 to $82.  Boars ranged from $45 to $50 and $10 to $15. 

Pork values are sharply higher at midday – up $4.91 at $110.38.  Bellies jumped nearly $34 to start the day.  Picnics and butts were higher to sharply higher.  Loins, hams, and ribs lower to sharply lower.