Market News

Midday cash livestock markets

Direct cash cattle trade is off to a quiet start for the week with buyers and sellers taking inventory.  Bids have yet to surface but that is expected to significantly pick up later this week. The bulk of last week’s trade took place on Tuesday and Wednesday with northern dressed business ranging from $225.50 to $233, mostly $228, $1 lower than last week’s weighted averages in Nebraska.  Southern live deals ranged from $141 to mostly $143, fully steady with previous week’s weighted averages.

Boxed beef is higher at midday with generally light to moderate movement. Choice is $1.38 higher at $245.13 and Select is up $1.70 at $221.83. The Choice/Select is $23.30.

In Missouri, last week, steers and heifers were mostly $5 to $10 lower and yearlings sold mostly steady, with some weaned calves bringing several dollars less and some bringing more. The USDA says demand was average. Receipts were up on the week and the year.  Feeder supply included 82% feeder cattle and 48% of the offering was over 600 pounds. Medium and Large 1 feeder steers 650 to 699 pounds brought $155 to $197.25 and feeder steers 702 to 749 pounds brought $144 to $192.50. Medium and Large 1 feeder heifers 600 to 649 pounds brought $135 to $187.50 and feeder heifers 700 to 749 pounds brought $130 to $177.25.

Cash hogs are lower at midday with moderate negotiated purchases. Processors didn’t have to work as hard in their procurement efforts. Last week’s Quarterly Hogs and Pigs report showed the U.S. herd isn’t contracting, but it’s also not growing at a significant rate.  There are concerns about a slowing global economy, but global demand for pork remains good.

Barrows and gilts at the National Daily Direct are $2.41 lower with a base range of $79 to $97.50 and weighted average $82.67. Prices at the regional markers were not reported due to confidentiality reasons.

Butcher hog prices at the Midwest cash markets are steady at $64

Pork values are higher at midday – up $5.39 at $102.98. Loins and ribs are down. Butts, picnics, and hams are higher. Bellies are $23.95 sharply higher.

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