Market News

Midday cash livestock markets

Another quiet start for direct cash cattle trade activity.  Asking prices have been stated at $156 to $157 live in the South, while the North has been slow to share.  Bids haven’t surfaced.  It’s likely significant trade volume will be delayed until midweek or later. 

Boxed beef was lower at midday on light demand for moderate offerings.  Choice is $1.18 lower at $253.35 and Select was $1.99 lower at $226.54.  The Choice/Select spread was $26.81. 

At the Callaway Livestock Center in Missouri, compared to last week 400-to-450-pound steer calves sold with a higher undertone on few comparisons, 450 to 500-pound steer calves sold mostly $5 to $8 lower compared to the previous week’s active market, steers 500 to 600 pounds were steady to firm and steers over 600 pounds were firm to higher.  Feeder heifers 400 to 500 pounds were $5 to $8 higher with several packages and groups of fancy black 4-weight heifers with good condition.  Heifers 500 to 600 pounds were steady to firm.  The USDA says there were several pot loads and part loads of 800-to-930-pound steers in the offering, all selling with good demand.  Quality overall was very good on calves and yearlings.  Demand was good with a moderate to heavy supply.  Receipts were up on the week and the year.  Feeder supply included 65% steers and 46% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 503 to 545 pounds brought $196 to $205.50 and feeder steers 874 to 880 pounds brought $175.25 to $183.35.  Medium and Large 1 feeder heifers 511 to 546 pounds brought $173 to $182 and feeder heifers 569 to 571 pounds brought $183 to $183.40. 

Cash hogs are mixed at midday with solid negotiated purchases.  Processors in some instances are working a little harder to move their desired numbers.  Demand for US pork has been strong on the global market and domestically, but there are concerns a slowing global economy could impact that and ultimately lower prices. Barrows and gilts at the National Daily Direct are $.31 higher with a base range of $76.50 to $87.50 with a weighted average of $82.04; the Iowa/Minnesota is $1.24 lower at $84.28; the Western Corn Belt is $1.24 lower with a weighted average of $84.28.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $60. At Illinois, slaughter sow prices were $2 lower with light demand for light offerings at $47 to $59.  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 $.75 at $88.77.  Picnics, bellies, and loins were all lower to sharply lower.  Butts, ribs, and hams were higher to sharply higher.