Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet.  Bids have been renewed in Texas at $141 to $142 live.  Asking prices for what’s left on showlists area round $144 plus live in the South and $236 plus dressed in the North.  While the bulk of the week’s business is complete, a little clean-up trade could take place before the end of the day.  On Thursday there was a light to moderate trade took place in most of cattle country with live deals marked at $142, $2 higher than last week’s weighted averages.  Northern dressed business was at $234, $4 higher than last week’s weighted average basis in Nebraska. 

Boxed beef is higher at midday on light to moderate demand for light offerings.  Choice is $.12 higher at $264.51 and Select is $.72 higher at $238.19.  The Choice/Select spread is $26.32. 

At the Winter Livestock Auction in Kansas, compared to last week steers 700 to 975 pounds were $4 to $5 higher.  Steer calves 400 to 700 pounds were $10 to $15 higher.  Feeder heifers 600 to 900 pounds were $4 to $5 higher.  Heifer calves 400 to 600 pounds were $7 to $15 higher.  The USDA says demand was good.  Receipts were down slightly on the week and up on the year.  Feeder supply included 61% steers and 76% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 555 to 566 pounds brought $204 to $209 and feeder steers 608 to 641 pounds brought $191 to $197.  Medium and Large 1 feeder fancy heifers 656 to 679 pounds brought $176 to $184 and feeder fancy heifers 759 to 799 pounds brought $170 to $174.50. 

Cash hogs are lower at midday with fairly light negotiated purchases.  Processors aren’t finding the need to bid up to move bigger numbers and prices have reflected that.  There continues to be long-term demand concerns for US pork on the global market and domestically which has put pressure on prices.  All eyes are monitoring the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $2.77 lower with a base range of $113.50 to $129 and a weighted average of $116.34 and the Western Corn Belt is $3.10 lower with a weighted average of $125.17.  Prices at the Iowa/Minnesota and the Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are steady at $72. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $69 to $81.  Barrows and gilts were steady with moderate demand for moderate offerings at $77 to $86. Boars ranged from $55 to $58 and $10 to $20. 

Pork values are lower at midday – down $2.75 at $117.16.  Bellies dropped more than $23.  Hams, picnics, loins, ribs, and butts were about steady to sharply higher.