Market News

Midday cash livestock markets

Direct cash cattle trade is quiet following light to moderate business that took place on Wednesday and Thursday.  There could be some cleanup trade take place yet today, but it’s likely the bulk of the week’s business has wrapped up.  For the week, Southern live deals were at mostly $138, steady to about $1 lower than the previous week’s weighted averages.  Northern dressed business was marked at mostly $234, not quite $1 lower than the prior week’s weighted average basis in Nebraska.  Colorado’s live sales were at $145, about steady with the week prior. 

Boxed beef was mixed at midday on light to moderate demand for light offerings.  Choice is $.47 lower at $263.53 and Select is $.03 higher at $240.60.  The Choice/Select spread is $22.93. 

At the Mitchell Livestock Auction in South Dakota, compared to last week there was a higher undertone on light steers.  Steers 1050 to 1099 pounds were $5 lower.  Heifers 800 to 850 pounds were $9 higher, and heifers 850 to 1000 pounds were $2 to $3 higher.  The USDA says demand was good and there were a few large load lots in the day’s offering.  Receipts were down on the week. Feeder supply included 35% steers and 92% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 750 to 795 pounds brought $175.25 to $185 and feeder steers 858 pounds brought $178.  Medium and Large 1 feeder heifers 810 to 820 pounds brought $161.50 to $172.50 and feeder heifers 958 to 983 pounds brought $145.75 to $152.25.

Cash hogs are lower at midday with fairly light negotiated purchases.  Processors were able to move their desired numbers without having to aggressively bid up.  Demand for US pork on the global market and domestically have been strong, but long-term concerns do put pressure on prices.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $2.86 lower with a base range of $110 to $123 with a weighted average of $113.25.  Prices at the regional direct markets were not reported at midday due to confidentiality. 

Butcher hog prices in Red Oak, Iowa this week are $4 to $5 higher at $78. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $40 to $52.  Barrows and gilts were steady with moderate demand for moderate offerings at $74 to $83.  Boars ranged from $45 to $50 and $10 to $15. 

Pork values are higher at midday – up $1.01 at $108.26.  Hams are sharply higher.  Ribs and picnics are higher.  Loins, bellies, and butts are lower to sharply lower.