Market News

Midday cash livestock markets

Direct cash cattle trade activity is quiet with bids few and far between.  Asking prices are around $161 to $162 live in the South, while not established in the North.  If business follows the trend of recent weeks, the bulk of the week’s business will hold out until sometime Thursday or Friday. 

Boxed beef is higher at midday on solid demand for light offerings.  Choice is $1.11 higher at $267.68 and Select is $3.50 higher at $257.22.  The Choice/Select spread is $10.46. 

At the Callaway Livestock Center in Missouri, steer calves were $5 to $15 higher with spots of $20 higher, steers 550 to 600 pounds were $5 to $8 higher, steers 600 to 650 pounds were firm to $5 higher, and steers 650 to 750 pounds were fully steady to firm.  Feeder heifers 400 to 550 pounds were $5 to $10 higher with spots of $12 higher, heifers 550 to 600 pounds were firm to $3 higher and heifers 650 to 750 pounds were $5 to $7 higher.  The USDA says demand was good to very good for feeders.  The offering was very attractive and all sold on a very active market.  Most calves were long-time weaned and were sold in large groups and drafts.  Receipts were up on the week and the year.  Feeder supply included 48% steers and 47% of the offering was over 600 pounds.  Medium and Large 1 feeder steers 550 to 596 pounds brought $205 to $225 and feeder steers 600 to 647 pounds brought $198 to $210.  Medium and Large 1 feeder heifers 502 to 547 pounds brought $188 to $203 and feeder heifers 651 to 698 pounds brought $180 to $183.35. 

Cash hogs are mixed at midday with fairly light negotiated purchases.  The cash hog market continues its struggle to find long-term market support.  Packer margins have dropped, and processors aren’t consistently bidding up to move their desired numbers.  Demand has been relatively strong on the global market and while that is expected to continue, there are concerns any hiccups in the global economy could ultimately put pressure on prices. Barrows and gilts at the National Daily Direct are $.41 higher with a base range of $65 to $76 and a weighted average of $72.22; the Iowa/Minnesota is $.61 lower with a weighted average of $73.85; the Western Corn Belt is $.85 lower with a weighted average of $73.61.  Prices at the Eastern Corn Belt were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $66. At Illinois, slaughter sow prices were steady with moderate demand for 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 weak at midday – down $.15 at $91.47.  Sharp gains in the bellies were more than canceled out by drops in the rest of the primals.