Midday cash livestock markets
Direct cash cattle trade is underway across all feeding areas. The bulk of the week’s business will likely take place today with the Thursday holiday. Live deals in the South are at $154 to $155, about $4 higher than last week’s business. In the North, live deals are at $157, and dressed business at $245, about $3 above last week’s weighted average basis in Nebraska. Look for more trade to take place this afternoon.
Boxed beef is mixed at midday on light to moderate demand for light offerings. Choice is $3.22 lower at $253.41 and Select is $.33 higher at $234.51. The Choice/Select spread is $18.90
At the Kingsville Livestock Auction in Missouri, compared to last week, steers and heifers were steady. The USDA says demand was good for a moderate supply of mostly calves of good quality. Receipts were down on the week and up on the year. Feeder supply included 40% steers and 31% of the offering was over 600 pounds. Medium and Large 1 feeder steers 614 to 628 pounds brought $188.25 to $199.50. Medium and Large 1 feeder heifers 502 to 539 pounds brought $151.50 to $167.50.
Cash hogs are weak at midday with light negotiated purchases. Processors haven’t been too aggressive in their procurement efforts in this holiday-shortened week. That doesn’t come as much of a surprise. The industry continues to monitor the availability of market-ready hogs and the overall demand situation. There are concerns a slowing global economy could weaken demand and put additional pressure on prices. Barrows and gilts at the National Daily Direct are $.11 lower with a base range of $81 to $87.50 with a weighted average of $81.95. Prices at the Regional Direct Markets were not reported due to confidentiality.
At Illinois, slaughter sow prices were $2 lower with light demand for light offerings at $49 to $61. Barrows and gilts were steady with moderate demand for moderate offerings at $58 to $68. Boars ranged from $30 to $35 and $9 to $19.
Pork values are lower at midday – down $1.55 at $89.75. Bellies and ribs are sharply lower. Butts and hams are lower. Loins and picnics are higher and sharply higher.