Market News

Midday cash livestock markets

Direct cash cattle trade activity is improving.  Bids have finally surfaced in parts of the North at $153 live and $245 to $246 dressed.  Asking prices are around $157 plus live and $250 plus dressed.  If the trend of recent weeks continues, significant trade volume will likely hold out until late in the day today and Friday.  There were a handful of deals reported on Wednesday at $152 to $153, but not near enough to establish a trend.

Boxed beef is mixed at midday on light to moderate demand for light offerings.  Choice is $.23 higher at $268.51 and Select is $.15 lower at $251.65.  The Choice/Select spread is $16.86. 

At the Huss Livestock Market in Nebraska, compared to last week steers and heifers less than 800 pounds were $3 to $7 higher, and steers over 800 pounds were steady to $2 higher.  The USDA says demand was good from a large crowd of buyers and there was a special segment of the sale comprised of red angus influenced cattle, which were also met with strong demand.  Most of the offering was long-weaned and fully vaccinated.  Receipts were up on the week and down slightly on the year.  Feeder supply included 60% steers and 83% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 606 to 643 pounds brought $197.25 to $208.75 and feeder steers 753 to 798 pounds brought $175.50 to $186.  Medium and Large 1 feeder heifers 652 to 682 pounds brought $170 to $186 and feeder heifers 701 to 745 pounds brought $164.50 to $176.25. 

Cash hogs are steady to lower at midday with moderate negotiated purchases.  Processors are starting off almost lackluster in their procurement efforts following a couple of days of larger movement at higher prices.  This week’s Export Sales report showed demand for US pork has been strong on the global market, which does help provide price support. Barrows and gilts at the National Daily Direct are $1.94 lower with a base range of $67 to $72.50 and a weighted average of $70.33.  Prices at the regional direct markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $62. At Illinois, slaughter sow prices were steady with moderate demand for light to moderate offerings at $30 to $42.  Barrows and gilts were steady with moderate demand for moderate offerings at $54 to $64.  Boars ranged from $15 to $20 and $10 to $13. 

Pork values are higher at midday – up $2.74 at $81.85.  Hams and loins are sharply higher.  Bellies and picnics are higher.  Ribs and butts are lower.