Midday cash livestock markets
Direct cash cattle trade activity started the day slow, but packer inquiry is expected to pick up as the day progresses. A few bids have surfaced out of the North at $150 live and $237 to $238 dressed. Asking prices are around $143 to $146 live in the South and $240-plus dressed in the North. Look for significant trade volume to develop over the balance of the week.
Boxed beef is about steady to lower at midday with light to moderate demand for moderate offerings. Choice is $.06 higher at $265.50 and Select is $.56 lower at $238.56. The Choice/Select spread is $26.94.
At the Ozarks Regional Stockyards in Missouri, compared to last week, steer and heifer calves were $4 to $8 higher with some lighter calves up to $12 higher. Feeder steers and heifers were not well tested, but undertones were firm. The USDA says demand was good on a light supply of mostly calves. Receipts were up on the week, but down on the year. Feeder supply included 44% steers and 39% of the offering was over 600 pounds. Medium and Large 1 feeder steers 509 to 545 pounds brought $206 to $216 and feeder steers 656 to 688 pounds brought $181 to $195. Medium and Large 1 feeder heifers 509 to 545 pounds brought $170 to $183, feeder heifers 560 to 594 pounds brought $170 to $177, and feeder heifers 601 to 632 pounds brought $164 to $175.
Cash hogs opened sharply higher with big negotiated purchases as packers increased their efforts to meet their desired numbers. Demand for US pork on the global market has been strong, helping provide relatively strong price support. The industry continues to monitor the availability of market-ready hogs, which has declined in some areas. Hog weights are up slightly this week to 275.7 pounds and down 1.9 pounds on the year. Barrows and gilts at the National Daily Direct are $8.32 higher with a base range of $114 to $136 with a weighted average of $128.87; no comparison at the Iowa/Minnesota, the Western Corn Belt, or the Eastern Corn Belt with weighted averages of $132.98, $132.87, and $123.73.
Butcher hog prices at the Midwest cash markets were steady in Dorchester, Wisconsin at $75 and $3 higher in Red Oak, Iowa at $77.
Pork values are higher at midday – up $2.38 at $123.53. Bellies jumped nearly $19 at midday. Loins and picnics were about steady to higher. Butts, hams, and ribs were lower to sharply lower.