Market News

Midday cash livestock markets

Direct cash cattle trade is active at midday. Light trade has been reported in Kansas at $165, steady to a week and year ago. A few bids have been renewed in Nebraska following Thursday’s fully steady, light to moderate sales in most areas. Northern dressed deals were marked at mostly $265 with live deals at $165 in the South. Asking prices at midday were around $167-plus live in the South and $267-plus in the North.

Boxed beef was mixed at midday. Choice is $1.31 higher at $285.91 and Select is $3.58 lower at $272.47. The Choice/Select spread is $13.44.

At the Mitchell Livestock Auction in South Dakota, feeder steers 650 to 750 pounds sold $8 to $15 higher, 750 pounds and up were steady to $5 lower, with instances $10 lower on 850 to 900 pounds. USDA says heifers 600-750 pounds sold $2 to $9 higher, 750 to 900 pounds sold $1 to $6 lower, and 900 to 1000 pounds sold $3 to $4 higher. Demand was good for many large loads. Feeder supply included 50% steers and 93% of the offering was over 600 pounds.

Cash hogs are steady to lower with moderate opening negotiated numbers for the major direct markets. It looks like the week is ending with those steady to lower bids as buyers were able to move plenty of ready numbers earlier in the week. Even then, increases in spending have been limited with buyers continuing to hold a lot of leverage over the market. Wholesale demand remains fairly inconsistent and last week’s export sales were disappointing.

Barrows and gilts at the National Daily Direct were $.44 lower with a base range of $75 to $79 and weighted average of $77.83; the Iowa/Minnesota had no comparison but five-day rolling average of $78.09; the Western Corn Belt had no comparison but a five-day rolling average of $78.03; and the Eastern Corn Belt also had no comparison but a five-day rolling average of $78.60.

Butcher hogs at the Midwest cash markets are called steady at $58.

At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $51 to $63. Barrows and gilts were steady with moderate demand for moderate offerings at $51 to $61. Boars were $15 to $25 and $8 to $15.

Pork values were lower at midday – down $.50 at $87.89. Butts, picnics, and ribs were higher. Loins, hams, and bellies were lower.