Market News

Midday cash livestock markets

Direct cash cattle trade is very quiet following the light to moderate business on Wednesday.  Asking prices are at $140 live in the South and $236 plus dressed in the North.  Look for some additional trade to develop over the balance of the week.  So far this week, Southern live deals have been at mostly $138, about steady to $1 lower than last week’s weighted averages.  Deals in the North have been at mostly $234, not quite $1 lower than last week’s weighted average basis in Nebraska.  Colorado had some live sales around $145, about steady with last week’s business. 

Boxed beef is lower at midday on light demand for light offerings.  Choice is $1 lower at $263.99 and Select is $.41 lower at $240.40.  The Choice/Select spread is $23.48.

At the Huss Livestock Market in Nebraska, compared to two weeks ago steers and heifers were $3 to $6 higher.  The USDA says demand was good from the buyers in the crowd.  Receipts were up from the most recent sale and on the year.  Feeder supply included 66% steers and 89% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 765 to 785 pounds brought $176 to $178 and feeder steers 871 to 890 pounds brought $166.75 to $177.  Medium and Large 1 feeder heifers 787 pounds brought $167.25 and feeder heifers 811 to 821 pounds brought $158.75 to $159.25. 

Cash hogs are sharply lower at midday with moderate negotiated purchases.  The industry continues to monitor the availability of market-ready hogs.  Processors were able to move their desired numbers to start the day without having to be aggressive in their procurement efforts.  While demand has been strong for US pork on the global market, there are long-term concerns and that is putting pressure on prices. Barrows and gilts at the National Daily Direct are $3.75 lower with a base range of $112 to $123 with a weighted average of $116.11; the Iowa/Minnesota is $2.11 lower with a weighted average of $121.57; the Western Corn Belt is $2.16 lower with a weighted average of $121.21.  Prices at the Eastern Corn Belt were not reported at midday due to confidently. 

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

Pork values are lower at midday – down $1.47 at $107.09.  Bellies and picnics are sharply lower.  Butts and hams were lower.  Loins and ribs were higher.