Market News

Midday cash livestock markets

It’s a quiet Friday for direct cash cattle business following the active day on Thursday.  For the week, Northern dressed deals have been marked at mostly $228, $1 higher than last week’s weighted average basis in Nebraska.  Southern live deals were at mostly $143, $1 higher than the prior week’s weighted averages.  Asking prices for what’s left on showlists are around $145 live in the South and $230 dressed in the North.  There could be some scattered clean up trade take place today, but it’s likely the bulk of the week’s business has wrapped up. 

Boxed beef is mixed at midday with light demand for light offerings.  Choice is $.11 lower at $248.29 and Select is $1.52 lower at $220.59.  The Choice/Select spread is $27.70. 

At the Mitchell Livestock Market in South Dakota, compared to last week, there was a higher undertone noted on steers and heifers.  Heifers 900 to 950 pounds were $2 higher.  The USDA says demand was good.  Receipts were up on the week and down on the year.  Feeder supply included 29% steers and 82% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 509 to 538 pounds brought $205.50 to $223 and feeder steers 937 pounds brought $174.50.  Medium and Large 1 feeder heifers 653 to 698 pounds brought $176 to $184 and feeder heifers 900 to 932 pounds brought $162.60 to $172. 

Cash hogs are sharply lower at midday with fairly light negotiated purchases. Processors just aren’t interested in moving big numbers right now.  There are likely a couple of factors.  One of those is long-term demand concerns. While demand has been holding strong, there are worries it could trail off, especially as concerns are rising about slowing global economies.  The industry is looking forward to next week’s Quarterly Hogs and Pigs report from the USDA for a better indication of the supply situation in the hog sector. Barrows and gilts at the National Daily Direct are $7.71 lower with a base range of $84 to $105 and a weighted average of $86.21; the Iowa/Minnesota and the Western Corn Belt is $4.67 lower with a weighted average of $96.67.  Prices at the Eastern Corn Belt were not reported due to confidentiality.

Butcher hog prices at the Midwest cash markets are steady at $66. At Illinois, slaughter sow prices were steady with light to moderate demand for light to moderate offerings at $58 to $70.  Barrows and gilts were $1 lower with moderate demand for moderate offerings at $60 ot $69.  Boars ranged from $39 to $41 and $9 to $19. 

Pork values are sharply lower, down $2.30 at $101.58.  Bellies dropped nearly $16 to star the day.  Loins, picnics, and ribs are also lower.  Butts and hams are higher. 

Add Comment

Your email address will not be published.


Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!