Midday cash livestock markets
Direct cash cattle trade is quiet across cattle country with the bulk of the business mostly done. Asking prices for cattle left on showlists are around $145 to $146 in the South and $232-plus in the North. There could be some business that trickles in today.
Boxed beef cut outs are higher with light to moderate box movement. Choice is $.19 higher at $247.55 and Select is $1.67 higher at $218.66. The Choice/Select spread is $28.89.
At the Valentine Livestock Auction in Nebraska, compared to last week, 450-to-650-pound steers traded unevenly steady with no comparable offering on heifers. The USDA says demand was good for weaned and non-weaned offerings. Drought continues to plague the region. Receipts were down on the week and year. Feeder supply was 82 percent steers and 30 percent of the offering was over 600 pounds. Medium and Large 1 feeder steers 520 to 547 pounds brought $215.50 to $231 and steers 600 to 646 pounds, unweaned, brought $199.50 to $212. Medium and Large 1 Feeder heifers 501 to 539 pounds brought $190.50 to $201 and heifers 604 to 618 pounds, unweaned, brought $ $182 to $188.
Cash hogs are sharply lower. Processors didn’t have to work aggressively to meet their procurement efforts after a big haul during the midweek ahead of Monday’s holiday. Global demand for pork is good despite concerns of slowing, global economy. Barrows and gilts at the National Daily Direct are $1.68 lower with a base range of $83 to $95 with a weighted average of $87.64; the Iowa/Minnesota is $1.37 lower with a weighted average of $91.81; the Western Corn Belt is $1.80 lower with a weighted average of $ $91.81. The Eastern Corn Belt did not report due to confidentiality reasons.
Midwest butcher hog markets were not reported. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings from $58 to $70. Barrows and gilts prices were steady, with moderate demand for moderate offerings from $58 to $68. Boars were $39 to $41 and $9 to $19.
Pork values are $1.76 higher at $103.17. Loins and picnics are higher with bellies up $9.80. Butts and hams are lower with ribs down $8.15.