Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet at midday, typical for a Monday.  Bids and asking prices have yet to surface.  It’s likely the bulk of the week’s trade will be delayed until midweek or later.  It was a moderate to active week for business last week. Live deals in the South were at $138 to mostly $140, $3.50 to $4.50 higher than the prior week’s weighted averages.  Northern dressed business was about $2 to $3 higher than the previous week, with most deals marked at $229 to $230. 

Boxed beef is higher at midday on moderate demand for light offerings.  Choice is $.14 higher at $263.51 and Select is $.22 higher at $239.81.  The Choice/Select spread is $23.70. 

In Missouri last week, feeder steers were steady to $5 higher than the previous week.  The supply of feeders was relatively light.   Most offerings were comprised of a few loads of yearlings, but mostly calves.  The USDA says demand was moderate to good.  Drought conditions have improved in some areas with recent rains, but some areas are showing abnormally dry conditions in the Northwest part of the state.  Receipts were down on the week, but up on the year.  Feeder supply included 48% steers and 45% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 600 to 649 pounds brought $174 to $213 and feeder steers 650 to 693 pounds brought $162 to $199.  Medium and Large 1 feeder heifers 500 to 548 pounds brought $159 to $195 and feeder heifers 600 to 649 pounds brought $150 to $185.75. 

Cash hogs were lower at midday with light negotiated purchases.  Processors are not starting the week aggressive in their procurement efforts and prices reflect that.  Demand for US pork has been strong both globally and domestically, helping provide price support.  However, some uncertainty surrounding demand has put pressure on the market.  The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $3.32 lower with a base range of $114.50 to $126 with a weighted average of $114.82.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $75. 

Pork values are sharply higher at midday – up $7.74 at $129.57.  Bellies are up more than $29.  Picnics, hams, and ribs were sharply higher.  Loins were weak.