Market News

Midday cash livestock markets

It’s a quiet Friday for direct cash cattle trade activity.  The bulk of the week’s business has likely wrapped up, but a little cleanup trade could trickle in before the end of the day.  Asking prices for what’s left on showlists are around $144 to $145 live in the South and $230-plus dressed in the North.  For the week, Northern dressed deals had a range of $225.60 to $230, mostly $228, $1 lower than the previous week’s weighted averages.  Southern live deals were at mostly $143, fully steady with the prior week’s weighted averages. 

Boxed beef is mixed at midday with light to moderate demand for light offerings.  Choice is $1.26 lower at $244.82 and Select is $.86 higher at $220.64.  The Choice/Select spread is $24.18. 

At the Valentine Livestock Auction in Nebraska, compared to last week, 750-pound yearlings steers were steady on the week.  The USDA says demand was very good with several buyers in-house and online.  Receipts were up on the week and down on the year.  Feeder supply included 54% steers and 51% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 457 to 493 pounds brought $234 to $242 and feeder steers 577 to 580 pounds brought $206 to $220.  Medium and Large 1 feeder heifers 770 to 793 pounds brought $180.25 to $185.50 and feeder heifers 815 to 835 pounds brought $175.75 to $181.25. 

Cash hogs were lower at midday with fairly light negotiated purchases.  Processors were aggressive earlier in the week and bid up to move their desired numbers.  Those procurement efforts have backed off in the latter half of the week.  Demand, overall, for US pork on the global market and domestically, has been strong, but there are long-term concerns as uncertainty remains about the global economy. Barrows and gilts at the National Daily Direct are $3.36 lower with a base range of $82 to $95.50 with a weighted average of $85.08.  Prices at the Regional Direct markets were not reported due to confidentiality. 

At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $58 to $70.  Barrows and gilts were steady with moderate demand for moderate offerings at $60 to $69.  Boars ranged from $39 to $41 and $9 to $19. 

Pork values are lower at midday – down $1.31 at $97.49.  Hams and bellies were lower.  Picnics, ribs, loins, and butts were all higher.