Midday cash livestock markets
Direct cash cattle trade is off to another slow start today across cattle country. So far, a token bid has been hard to find. Asking prices are around $145 in the South, but still not established in the North. Packer inquiry should pick up later today and throughout the balance of the week. Today’s Fed Cattle Exchange had an offering of 1,507, none of which sold. Bids did not meet the reserve prices of $142 to $143
Boxed beef cutouts are lower with light movement. Choice is $.54 lower at $247.50 and Select is $1.84 lower at $220.07. The Choice/Select spread is $27.43.
At the Ozarks Regional Stockyards in Missouri, compared to last week, steer and heifer calves traded steady to $4 lower. Yearling steers traded $5 lower. The USDA says demand was good, especially on long-time weaned and vaccinated calves. The supply was moderate and included 230 head of 918 pound steers, which brought $5.50 less than a draft in the previous week. There was an above average number of bawling and bull calves in the offering. Receipts were up on the week and year. Feeder supply included 49 percent steers and 48 percent of the offering was over 600 pounds. Medium and Large 1 Feeder steers 506 to 526 pounds brought $199 to $215. Feeder steers 601 to 619 pounds brought $185 to $190. Medium and Large 1 feeder heifers 503 to 548 pounds brought $152 to $161 and feeder heifers 600 to 625 pounds brought $157.50 to $166.
Cash hogs are sharply higher at midday. Processors had a huge day on Tuesday and are still looking to move numbers today to meet their procurement efforts. They are likely in need of more supplies before finishing out the week before the holiday on Monday. The industry continues to monitor the availability of market-ready hogs. Barrows and gilts at the National Daily Direct are $4.11 higher with a base range $83 to $98 with a weighted average of $89.92; the Iowa/Southern Minnesota is $.81 higher with a weighted average of $92.25; the Western Corn Belt is $1.18 higher with a weighted average of $95.25; the Eastern Corn Belt did not report due to confidentiality reasons. Weekly estimated average weight of Barrows and Gilts for Iowa/Southern Minnesota was down on the year at 281 pounds.
Butcher hog prices are steady at $62. Pork values are higher at midday, up $2.45 at $100.74. Loins are down with Butts, picnics, ribs, hams and bellies are higher.