Market News

Midday cash livestock markets

Direct cash cattle business is light at $142 on the live basis in the south, up $1 from last week’s weighted average, and at $226 dressed in the north, steady with both Wednesday and last week. Asking prices are $143 to $144 live and $230+ dressed, with bids at $142 and $143 live and $226 dressed. Beef export sales of 15,100 tons were up on the week, primarily to South Korea, Japan, and Mexico.

Boxed beef is mixed at midday with light to moderate movement. Choice is down $.64 at $252.83 and Select beef is up $.42 at $230.53.

At the Winter Livestock Auction feeder cattle sale in Kansas, compared to the previous test, 500-to-775-pound steers were steady to $4 lower and 775-to-975-pound steers were down $2 to $4, with 400-to-500-pound steer calves dropping $10 to $20. 550-to-925-pound heifers were mostly steady to $2 higher, with thin fleshed and fancy heifers up $8 to $10, but 400-to-550-pound heifer calves were down $7 to $9. The USDA says demand was moderate with receipts up on the week and the year. 89% of the supply were feeder cattle, with just over half of those steers, and 70% of the feeder run weighed more than 600 pounds. Medium and Large 1 feeder steers weighing 400 to 500 pounds brought $182 to $192 and 700-to-800-pound steers sold at $167.50 to $175, with thinly fleshed steers averaging 837 pounds at $176.60 to $181. Medium and Large 1 feeder heifers weighing 400 to 500 pounds ranged from $163 to $185 and 700 to 800-pound heifers were reported at $161 to $171.

Cash hogs are steady to lower with a moderate opening fun for the major direct markets. Buyers are pulling back bids after moving a lot of market ready numbers at mostly higher prices yesterday. Now that they have the needed near-term numbers in hand, it looks like the focus might be returning to profit margins. Pork export sales of 25,100 tons were down on the week, mainly to Mexico, China, and Japan.

National direct barrows and gilts opened $2.03 lower with a base price range of $86 to $102 for a weighted average of $94.99, with Iowa/Southern Minnesota down $1.13 and the Western Corn Belt $.75 lower, both averaging $99.79. The Eastern Corn Belt was not reported due to confidentiality.

Butcher hogs at the Midwest cash markets are steady at $70. Illinois direct slaughter sows are steady at $58 to $70 on light to moderate demand and offerings. Barrows and gilts are steady at $67 to $76 with moderate demand and offerings. Boars range from $9 to $41.

Pork at midday is down $.71 at $106.17. Bellies dropped $14.46, with loins down $1.37 and ribs $3.90 lower, while butt, picnics, and hams were firm to sharply higher.

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